วันพฤหัสบดีที่ 16 กรกฎาคม พ.ศ. 2552

How will getting a lawyer to help work with collection agency affect my credit?

In June, I got involved with a debt settlement company that has caused me nothing but trouble. I got my money back from them, but my two bank of america accounts were sent to arbitration. I am having trouble getting a loan to pay off the accounts because of the 30 days past due notice on my credit report for those accounts. Even with a co-signer with perfect credit, we have ran into various problems, such as living in different cities. My parents said to contact a lawyer and they would be able to set up payments for me, but I am wondering what that will do to my credit.

Thanks!


If you used a debt settlement company then you can bet your credit is trash. How long has it been since your creditors have gotten a payment?

What these companies do is not pay your creditors for months and then try and get them to settle for less. if thats the route that you have to take. You can do it yourself. Save the money you pay them to put on the debt.

Getting a lawyer won't hurt your credit. The debt settlement company already screwed up your credit. But I don't know what the attorney will be able to do for you that you can't do for yourself.

Have you tried to reach some kind of settlement or payment plan? You owe the money.

Sound like your credit is already screwed.

If the creditors will not except terms, file bankruptcy.

Bank of America is a predatory lender and they thrive a victimization and abuse. File Bankruptcy and never do business with them again.

Bank of America is being charged with unfair credit practices. Felony loan shark laws and illegal fees charged

Bank of America is being sued by five former and current employees who claim the firm discriminated against African-Americans when it came to promoting and paying brokers and bankers.

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Put simply, you are not dealing with a bank, you are dealing with a predator. Congress is preparing to eliminate this type of bank but the Republicans have that blocked for the time being.

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Sorry to hear things did not go well for you.....I had many issues with a debt settlement place too. I am all for credit counseling and bankruptcy if all else fails now. Debt settlement places are a rip off and take advantage of people in bad shape.

I would say your credit is already as bad as it can be. I think you are doing the right thing by going and seeing the lawyer. THey will know how to do everything legally so that nothing comes of this later on down the road. Plus, the lawyers fees will be nothing to what those debt settlement places try to squeeze out of you.

I think the lawyer is a good bet and in time your credit will start to improve.

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