debts
Bankruptcy or choosing to default on credit card debt. What are the ramifications of each?
I have A LOT of credit card debt from opening a business and having to sell it in one year because of family responsibilities. Saw a bankruptcy attorney, but the options don’t seem to work for me as there’s no way I could ever pay off these debts.
I know it’s very immoral, but what will actually happen if I just stop paying on them? I know I’ll be inendated with phone calls and lose my good credit standing, but can they attach my bank account or any other asset?
Is there a difference between the credit report a creditor sees and your full report on file with the 3 CRAs?
Correct me if I’m wrong but when you "pay for deletion" you are paying for any record of the debt to be 100% removed from the report that a potential creditor would see (like when you buy a car or credit card) .
–BUT the debt is never actually deleted from the credit report that you and the CRA have access to.
So, there are actually 2 forms of credit report: one that potential creditors see, and one which only you and the CRA see.
Is this correct??
I am asking because in previous answers to my "pay for deletion" questions, alot of people are saying that debts are never 100% deleted from credit reports.
So that makes me wonder what the phrase "pay for deletion" means exactly?
Thanks!
How do I remedy a Credit Report debt supposed to have been assigned to my X Husband?
My X-Husband and I got a divorce, with it papers that stated as a contract that he would be taking two debts he incurred while we were married but these debts still show up on my credit report. Is there any way to stop these debts from being reflected on my credit as it was agreed via the divorce they were his responcibility?
Any help at all is appreciated.
Need bad bedt loan for debt consolidation – any advice?
I need to find out where I can a debt consolidation loan, even though I have bad credit due to some unforseen circumstances in life. Has anyone gone through this and who do you recommend? What about filing for bankruptcy – how long does that take before the debts are discharged?
Will applying for (and receiving) a debt-consolidation loan damage my credit?
I have numerous debts (car payments, student loans, a few credit cards, and a signifcant personal debt owed to a friend) that I'd like to roll into one monthly payment (which would hopefully be smaller than the amount I currently pay for each one as a separate monthly bill).
Some people have advised me to apply for a debt-consolidation loan. My question is, will doing so affect my credit negatively? Do they even include student loans in debt-consolidation?
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