OT - what will help my credit more?

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So for those that remember my thread from a few months ago, I have about 4K swirling around in CC debt. My tax refund should be coming in next week and it will be 1700.

My CC debt is like this:

2200 Capital One
1200 Sears
750 Best Buy

Best buy is on a somewhat normal payment schedule while the other 2 are over 3 months past due and to creditors.

What will help my credit score more? (it's shy of 600)

Calling Capital One creditor and trying to settle for 1500-1700 and get it off the books?

Pay off Best Buy in full & then see if Sears will settle for 800? Thus, taking 2 off the books?

I just don't know what will help more, getting rid of the biggie or attempting to get rid of 2? Will Capital One possibly even settle for less if I'm just like, "look. I'm a full student, I only work about 20 hrs a week, $1200 is all I got and all I can give," and then try the rest to bring Sears down a few hundred.

Any real help and advice is greatly appreciated. Thanks:toast:
 

Home of the Cincinnati Criminals.
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Get them caught up and continue to make on time payments.

why not knock offthe sears and catch the Cap one up?
 

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If that is all the debt you have, I do't know what you are sweating. Work a little and get it paid off, show them you can charge and pay it off every month and your credit score will rise with time
 

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Get another low interest card and pay off everything and have 1 payment lol ..
 

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so two are in collection? I'd knock those off first. Try to settle with both of them if possible (you *might* be able to get them to settle for 50cents on the dollar).
 

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Get another low interest card and pay off everything and have 1 payment lol ..

Not sure how that would work. Like I said, my credit is between 550-575 and I'm only able to work about 25 hours a week due to my college work load. Come May, I'll be working two jobs.

The whole 1700 is going to CC's so I'm just wondering which is the better route to go. Obviously nothing will jump it immediately as Sears and Best Buy have moved on to collection agencies.

I'm just looking for a little breathing room and I'm definitely sweating it because I'm making enough to cover my rent/utilities/phone/gas and then about $100 a month for CC's. To get either of the 2 bigger ones back to monthly payments, it's like a $250 minimum because of how long it's been since I sent them anything.
 

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so two are in collection? I'd knock those off first. Try to settle with both of them if possible (you *might* be able to get them to settle for 50cents on the dollar).

If I'm just honest with them about the situation, should that make them more willing? Also, how do I go about getting it to be settled for less? Do I ask? Or do I just tell them, "look, this is all I have and all I can pay."
 

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If I'm just honest with them about the situation, should that make them more willing? Also, how do I go about getting it to be settled for less? Do I ask? Or do I just tell them, "look, this is all I have and all I can pay."


to be honest with you, my experience has been when they've offered me the settlements... But I've definitely received offers of one-time payments of 50% of the debt to settle it.

I would think calling up and being honest about it would be the way to go. Tell them you'd like to settle up but that you can't pay the full amount and see where the conversation goes. Remember that you can always decline any offer, hang up and try again in a week.
 

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If I'm just honest with them about the situation, should that make them more willing? Also, how do I go about getting it to be settled for less? Do I ask? Or do I just tell them, "look, this is all I have and all I can pay."

It would make them more willing, yes. They may waive all the fees, not the balance you charged though. As long as they know money is coming in, you will be fine. Sending the bills to collections costs them also.
 

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It would make them more willing, yes. They may waive all the fees, not the balance you charged though. As long as they know money is coming in, you will be fine. Sending the bills to collections costs them also.

The balance charged is about 1500...there's about 700 in fees:ohno:
 

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tell'em to F themselves on the $700 fee's. This is what pisses me off about credit card companies. I'd tell them to drop the fee's and they will get the money in full, if not, eat it
 

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you really want your score to go up fast, pay for delete.

offer a settlement and require them to delete the tradeline, thats if you have negative history on it, which i assume with a score like that
 

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Why do you need a settlement? Why not pay off the Sears card and then pay off $500 of the Cap One card. Then you should have two manageable monthly payments for BB and Cap One that should amount to less than $100 a month, unless you have like 35% interest rates.

The settlements will negatively impact your credit score. Don't let anyone tell you different.

What is your interest rate on each card? Paying $100 per month on $2450 in debt at about a 20% interest rate would pay your debt off in about 2 1/2 years. Paying $150 a month would cut a year off of that.
 

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Why do you need a settlement? Why not pay off the Sears card and then pay off $500 of the Cap One card. Then you should have two manageable monthly payments for BB and Cap One that should amount to less than $100 a month, unless you have like 35% interest rates.

The settlements will negatively impact your credit score. Don't let anyone tell you different.

What is your interest rate on each card? Paying $100 per month on $2450 in debt at about a 20% interest rate would pay your debt off in about 2 1/2 years. Paying $150 a month would cut a year off of that.

Not sure how much more negative I can go, lol. I'd almost just rather have it be gone than worry about it.
 

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they all got their Gov't bailouts so let them put ur tax money towards ur debt. theyre a bunch of greedy crooks.
 
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with all due respect, if that is all the debt you have, what the hell are you worried about. it's almost laughable.
 

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