Annual credit report Meridian

Of course there are negatives to settlingthe hit to the credit score, right?but I have a friend who annual credit report Meridian recently settled her 25k+ cc debt for 25% of its original amount and their score is still good (around 650). Although she could have kept up her monthly minimum payments (even though they took up annual credit report Meridian 50% of her take-home pay and she would have been stuck in her hand to mouth existence), she purposely defaulted in order to settle. It seems almost logical to meshe stopped paying her monthly minimum payments, defaulted, spent a few months getting badgered by collectors while she stockpiled the money that would annual credit report Meridian have gone straight out the window to make the tiniest of dents in annual credit report Meridian the debt, and then she annual credit report Meridian settled and paid off those amounts in full with cash. once a year free credit report Altogether, it was an 8 month process as opposed to a several years long torturous journey. Is it an ethical issue? Is that why settling seems to be considered a last ditch effort (as in, only an option if youve already defaulted and have no other choices)? Or are there other negatives Im not seeing? - annual credit report Meridian Jeff For one, annual credit report Meridian it is an ethical issue. online credit check free Planning ahead to take someone elses money then defaulting on that debt is just simply dishonest. Another factor is that it does drop a bomb on your credit report, even if you negotiate it away. It has a pretty big negative impact, one that doesnt just affect the debts you annual credit report Meridian might take on, but also affects job applications and insurance rates.

annual free credit report government

Of course there are negatives to settlingthe hit to the credit score, right?but I have a friend who annual credit report Meridian recently settled her 25k+ cc debt for 25% of its original amount and their score is still good (around 650). Although she could have kept up her monthly minimum payments (even though they took up annual credit report Meridian 50% of her take-home pay and she would have been stuck in her hand to mouth existence), she purposely defaulted in order to settle. It seems almost logical to meshe stopped paying her monthly minimum payments, defaulted, spent a few months getting badgered by collectors while she stockpiled the money that would annual credit report Meridian have gone straight out the window to make the tiniest of dents in annual credit report Meridian the debt, and then she annual credit report Meridian settled and paid off those amounts in full with cash. Altogether, it was an 8 month process as opposed to a several years long torturous journey. Is it an ethical issue? Is that why settling seems to be considered a last ditch effort (as in, only an option if youve already defaulted and have no other choices)? Or are there other negatives Im not seeing? - annual credit report Meridian Jeff For one, annual credit report Meridian it is an ethical issue. Planning ahead to take someone elses money then defaulting on that debt is just simply dishonest. Another factor is that it does drop a bomb on your credit report, even if you negotiate it away. It has a pretty big negative impact, one that doesnt just affect the debts you annual credit report Meridian might take on, but also affects job applications and insurance rates.