New to the board and have questions...
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| Mon, 01-31-2005 - 4:02pm |
Hello~I'm new to the board and have a couple of questions....My hus and I had always had good credit until and quit my job to stay home with my new baby a few years ago. So now I am back to work for a little over a year now. While off, I had a very hard time keeping up on the bills and around Christmas a few years ago thought, "I want the family to have a nice Christmas so I'll put these all of till next month and get caught up." (never do that btw)So I was never able to get caught up and let it get out of control. So to make a long story short....I settled with my three cc's. For example the third and final that I am working on right now was a 3600.00 bal and we settled for 2k. I make two large payments a month and it will be paid off in April. My question is this....
I pulled my credit report last month and the other two that we had settled with still show small balances. One cc for example had a bal was $3,637. They agreed to take 3k. My credit report reads "Now paying/was a charge off" and shows the bal being 637. My husband says that I should not have to pay the 637 bc we agreed to 3K. But it still shows a bal. So I started making payments to this. Once the 637 is paid down will it still show a charge off? Will paying the 637 and the 347 on the other help repair my credit?? I am trying hard now that I am working to repair this but am unsure if it will take the Charge offs or Settlement notations out of my credit report. Mind you once the 3rd bill is paid, I will have 1,600 to pay on it. Any ideas on how this works would be appreciated. I am ask because I'm wondering if paying the balances left from the settlements is worth it or if I should be taking that money and putting it towards my student loan that I need to catch myself up on also.
Thank you to all that reply in adavance!!
lee
| Mon, 01-31-2005 - 10:27pm |

