I've had a few negotiations with creditors and a local CA.
BOA is a five-year payoff plan (1.7% - 1.8%), but they are offering 20% of a total of approximately $8K if paid in six months. I have been in the other payoff plan with them for a year. I doubt I can swing the six months payoff of 20%. It appears I meet the "insolvency" definition of the IRS, but I might have to hold out for 2 - 3 more months and see what happens.
Citi offered 0% for a year and cut the monthly payments by less than 1/2. After a year, who knows?
A local CA took me to court and we worked out a payment plan over 5 months.
CapOne is hard to work with. (Beat head on the floor.)
Credit unions are tough, but they might give you a workout arangement.
I'm not judgment proof, but I have no assets that are outside of exemptions. I have nothing one can get a lien on. I'm even upside down on two vehicles, so no equity there. I do have wages, and if I need to I'll live with garnishment and try to keep paying those who give me the best deals, or those who drag me into small claims.
The calls keep coming, but I don't get that many in a single day.
Those creditors/CA's I sent C&D letters don't call.
I do answer the phone on occasion and see if anyone has a great deal or a better deal than the last one. I don't discuss my financial issues with anyone over the phone. If they want to do a soft pull on my credit reports, my financial situation is CLEAR.
BOA is a five-year payoff plan (1.7% - 1.8%), but they are offering 20% of a total of approximately $8K if paid in six months. I have been in the other payoff plan with them for a year. I doubt I can swing the six months payoff of 20%. It appears I meet the "insolvency" definition of the IRS, but I might have to hold out for 2 - 3 more months and see what happens.
Citi offered 0% for a year and cut the monthly payments by less than 1/2. After a year, who knows?
A local CA took me to court and we worked out a payment plan over 5 months.
CapOne is hard to work with. (Beat head on the floor.)
Credit unions are tough, but they might give you a workout arangement.
I'm not judgment proof, but I have no assets that are outside of exemptions. I have nothing one can get a lien on. I'm even upside down on two vehicles, so no equity there. I do have wages, and if I need to I'll live with garnishment and try to keep paying those who give me the best deals, or those who drag me into small claims.
The calls keep coming, but I don't get that many in a single day.
Those creditors/CA's I sent C&D letters don't call.
I do answer the phone on occasion and see if anyone has a great deal or a better deal than the last one. I don't discuss my financial issues with anyone over the phone. If they want to do a soft pull on my credit reports, my financial situation is CLEAR.
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