Due to recent unemployment, I quit paying my credit card bills for a few months. I ignored all of their attempts at contact, as well. Definitely not the smartest move in retrospect, I was just freaked out and stressed. My situation has improved and I want to start building my my credit back up. I spoke to Citi and they offered me a settlement, where they would pay half of my full balance. I would be allowed to pay off the rest in a payment plan. This would definitely make getting out of debt a lot easier but there must of course be disadvantages to such a plan. I’m wondering if any of you could fill me in on how it would affect my credit history/report? Is it like bankruptcy, where it shows for 7 years? It it a red flag for anyone looking into my history in the future? I’m sure delinquency of payments for months with no contact will already reflect look bad, but will this look worse? Is not worth it? Should I, instead, discuss a payment plan with them and pay the full balance over time?
Submitted February 05, 2019 at 07:25PM by Butler-of-Penises http://bit.ly/2MVpooU
