I decided to get a credit card with Household Bank. Well, I ended up being late 80 days and now they have offered me a final reduction of 30% the total owed. They said it would be reported to my credit report as "paid balance, not in full" if I take them up on their offer. My question is, since I am currently in Ch13, my credit is already bad. How much worse can it be with this remark? Or should I try to make a deal to pay the entire bal off in installments.
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No offense, I think your forum name should be changed from nonsense, ot NOSENSE. If your already in a chpater 13, what are you doing getting a credit card and using it to the point that you cannot make the payments.
Since you didn't explain how you got in these circumstances, I will give you the benefit of the doubt and assume it was some kind of emergency. There are a couple ways to handle this, (1) you could amend your chapter 13 to include this card, and the debt becomes a post-petition priroity claim, meaning they get paid after secured creditors but before unsecured. (2), settle along the lines they have suggested. (3), just blow them off.
The problem is, as for rebuilding your credit, by letting this card go in default, you have shot yourself in the foot. Your best bet is probably to just settle with them.
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