Creditor question

[HONEST2APOINT]

If I decide to pay all of my creditors except ONE, what might happen? I know no one has a crystal ball but I am curious.

I am hoping that in a few months time, they will offer a settlement. I can then agree upon payment at my terms i.e. No derogatory info on the bureau.
Can anyone lend any insight? Please.

[lrprn]

Welcome, H2P. One thing to keep in mind that in the credit world today, if you are late on one payment to one creditor, the others often have a small print paragraph in the contract giving them the right to increase your APR even if you have never been late paying any other creditor. This plan of yours could backfire on you big time if your paid creditors start jacking up your APRs to make more money off you - that's their job. Is it worth the risk?

[HONEST2APOINT]

.

Yes, it is worth it. I have managed to pay off 7 of my 18 cards. I figure, by the time the creditors catch on, I will have paid off 15 of them leaving 2 smaller ones to contend with.

Otherwise, I will certainly have to file BK. I live in Canada now and no chance of returning to the US but dont want to burn bridges. I might just have some time to work with this one.