sould I settle?

[Anonymous]

Hi. I have 2 cards and an unsecured personal loan I am paying via CCCS. Two are at $3k each, one is at $1k. One card has a couple 30-day late, the others are clean. Is there any chance these companies will settle for less? I guess my only chance would be to threaten bankruptcy. Things are very tight for me right now but I can come up with about $2k to settle all my debts if they will go for it.

Thanks

[admin]

They will probably settle for cash, but your credit rating will get worse. The fact that you are already in CCCS should work in your favor.

[Anonymous]

If I negotiate my credit to be listed 'PAYS AS AGREED' as I saw on this site, how would that make my credit worse?

Thanks.

[admin]

If you can get them to do that, that would be great. However, the less you have to pay them in cash, the tougher it will be to get "PAID AS AGREED" as your rating. Not that you shouldn't try (and even be hard-nosed about it).