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Posted by: Sharron on 2010-07-25, 20:38:17
This is a very complex issue, and I'm so sorry to hear about your financial situation. Before filing bankruptcy (which will not repair your credit... and will end up on your credit report), you should look into negotiating debt settlements on the credit card debt. You contact the debtor listed on your credit report. Look into requesting a "Pay For Delete " where you'll settle for a percentage, or pay the whole debt and they'll remove the listing from your credit report. "Pay For Delete " is very important, because if you just pay the debt the creditor can continue to list it as a delinquent account, which will keep hurting your score. And remember, everything a credit repair agency or lawyer can do to repair your credit, you can do yourself. Find a good credit repair guide, and get to work! I used the one at howtofixyourcreditscore.info and it really worked for me. It came with sample letters I could use to make arrangements and file disputes. In general, it's a good idea to try and keep the car payments current, but you can also walk away from the lease and still have that good payment history... as long as you properly end the lease. If you're able to repair your credit, your score will go back up too and then you can both have better credit, without the burden of all that debt from the dual car leases. Good luck, I hope this works out for you! |
