I'm approaching six months past-due on virtually all of my unsecured debts. Many have referred me to contract collectors but the account is still with the original lender in every case because that's where they want me to make payments to.
I got a letter today from one of the credit cards saying that the account is due to be written off per federal regulations. It went on to say that I could avoid the charge-off by sending a $130 payment.
My situation won't allow me to file until the end of January or maybe even later. By then nearly all of my accounts will be past the 180 day mark.
I know a charge-off won't be erased by filing bankruptcy and that's unfortunate. I'll end up with the charge-off AND Bankruptcy on my record for a long time.
Is it worth making minimal payments to postpone a charge-off until after I file?
I really don't have too much money to be throwing at this problem but $130 seems like I might be able to absorb it for a couple of months.
What do you think?
Another interesting factoid is that I added up all of the interest and fees I've been charged by everyone over the last six months and it's more than $16,000. I'm going to be solidly in the territory where the US Trustee takes a look because the total is getting huge.
I got a letter today from one of the credit cards saying that the account is due to be written off per federal regulations. It went on to say that I could avoid the charge-off by sending a $130 payment.
My situation won't allow me to file until the end of January or maybe even later. By then nearly all of my accounts will be past the 180 day mark.
I know a charge-off won't be erased by filing bankruptcy and that's unfortunate. I'll end up with the charge-off AND Bankruptcy on my record for a long time.
Is it worth making minimal payments to postpone a charge-off until after I file?
I really don't have too much money to be throwing at this problem but $130 seems like I might be able to absorb it for a couple of months.
What do you think?
Another interesting factoid is that I added up all of the interest and fees I've been charged by everyone over the last six months and it's more than $16,000. I'm going to be solidly in the territory where the US Trustee takes a look because the total is getting huge.
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