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Is it worth it to pay the full amount a creditor is seeking to maintain a higher FICO score or should you arrange for a reduced payment?
Wiki User
∙ 16y ago
This question needs further review. If you are referring to paying a collection account, you must negotiate a with the creditor to receive a deletion letter prior to paying the account in full. Also you may be better off waiting than making the payment now. It also depends on if you are trying to make a large purchase e.g. a home in how you handle this matter. Since I don't have an idea what type of account you are referring to, it is best you seek more knowledge prior to paying. Making a payment without the proper knowledge could really hurt your credit. Look up the Book The Credit Bible by Phil Turner and it will assist you in this matter.
Wiki User
∙ 16y ago
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What exactly is a debt settlement?
Debt settlement, also know as debt arbitraton or debt negotiation, is an approach to debt reduction in which the debtor and creditor agree on a reduced balance that will be regarded as payment in full.
What services do Christian debt consolidation company offer?
Christian debt consolidation companies offer the following services: reduced interest rates by negotiation, affordable payment plans, bills are reduced to a monthly payment plan, a well planned budget to keep you on track.
What is the best way for one to reduce mortgage payments?
The best way to have a mortgage payment reduced is to make sure you pay your mortgage payment on time every month or earlier if you can. You can also double up on payments and then contact lenders about a lower payment loan.
What is debt consolidation?
Debt consolidation - is reaching an agreement with each creditor to accept a lower regular payment, usually at a much reduced rate of interest. It takes longer to pay off the debt, but you pay less interest than you would at their normal rate. Companies would much rather come to a satisfactory agreement - than have to drag someone through the courts (which costs them money.
What does credit card negotiation mean?
Credit card negotiation is when you contact the bank and negotiate your credit card debt. This can mean negotiating a payment plan or just trying to get the overall debt reduced.
How can one have debt settlement in America?
Debt settlement is an approach to debt reduction in which the debtor and creditor agree on a reduced balance that will be regarded as payment in full. In America consumers can arrange their own settlements by using advice found on web sites, hire a lawyer to act for them, or use debt settlement companies.
What exactly is a debt settlement?
Debt settlement, also know as debt arbitraton or debt negotiation, is an approach to debt reduction in which the debtor and creditor agree on a reduced balance that will be regarded as payment in full.
How can you satisfy a credit card judgment?
Your options are somewhat limited. The judgment is a legal determination that you owe the money. You can (1) simply contact the judgment creditor and/or their attorney and tender payment of the judgment; (2) negotiate a payment plan or reduced settlement; or (3) file for bankruptcy.
What is micro-form?
This is an arrange of images reduced in size, as on microfilm or microfiche.
Will the monthly rate drop if a principle payment is made?
Yes it will or the number of payments will get reduced. Its always a good idea to pay of the principal payment as quickly as you can
Identify the travel card policy that will enable him to make monthly payments?
Reduced payment plan
What services do Christian debt consolidation company offer?
Christian debt consolidation companies offer the following services: reduced interest rates by negotiation, affordable payment plans, bills are reduced to a monthly payment plan, a well planned budget to keep you on track.
Can a creditor apply bankruptcy for a 7500 amount?
Creditor don't apply for bankruptcy...debtors do. Bankruptcy is not for any particular item...it must be for everything you owe and everything you owe. All of the last is used to pay all of the first, and then any excess MAY be reduced or dissmissed.
Why do principle and interest varies over time?
The answer is called amortization. In a typical loan payment, interest is calculated based on the outstanding principle balance. When the periodic payment remains constant the amount of that payment allocated to interest declines as the principle balance is reduced.
Are child support arrears reduced while in Colorado jail?
No. Only payment or a judicial reduction will reduce the amount you owe.
Is workers comp settlement taxable income in the state of California?
Workers comp payments (whether a settlement or not) are generally not taxable. However, if the payment causes your Social Security benefits to be reduced, the part of the benefit that reduces your SS payment will be treated as if it were an SS payment.
What is the best way for one to reduce mortgage payments?
The best way to have a mortgage payment reduced is to make sure you pay your mortgage payment on time every month or earlier if you can. You can also double up on payments and then contact lenders about a lower payment loan.
