Ok first I have two major debts on my credit. Neither are coming after me but I can not do anything due to my score being so low and worry they will be calling one day. Both are showing charged off on the credit reporting sites.
One is 18,999 and it is from card services which is a company I used to charge sales so I could take credit card when I had a business which is also a judgment. The other a loan at a bank which is 4800.
A friend who has alot of business experience told me not to file and to offer each of my major creditors 10% to settle the debt. My worry was if I make the offer and they refuse they may fell there is some reason I am making the offer and start asking questions.
my thought is when I plan to file chapter 7(end of sept) call them make the offer and tell them if they do not take it I will walk down to my lawyer and file for chapter 7. Figure there is a small chance they would take it knowing they would get nothing.
What do you think the chance is they will take the offer or say no and come after me before I get the bk filed?
Would you try this when you had the money in your pocket to file?
One is 18,999 and it is from card services which is a company I used to charge sales so I could take credit card when I had a business which is also a judgment. The other a loan at a bank which is 4800.
A friend who has alot of business experience told me not to file and to offer each of my major creditors 10% to settle the debt. My worry was if I make the offer and they refuse they may fell there is some reason I am making the offer and start asking questions.
my thought is when I plan to file chapter 7(end of sept) call them make the offer and tell them if they do not take it I will walk down to my lawyer and file for chapter 7. Figure there is a small chance they would take it knowing they would get nothing.
What do you think the chance is they will take the offer or say no and come after me before I get the bk filed?
Would you try this when you had the money in your pocket to file?
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