But it really *is* bad debt

Bad debt

Think about it as if it were a relative of yours. You loan this relative $500, they don’t pay for a year and then they offer to pay you $250 to “call it even”. You haven’t seen any money for a year so you figure that you might as well take what you can get from this “deadbeat”.

Then Uncle Charlie calls you asking what you think about him loaning this same “partial deadbeat” relative some money.

What are you going to tell him?

If you are sending them payments every two weeks you don’t need to call them. However, be aware that they will certainly call you. They will tell you that they can’t accept these small payments (lies) that you NEED to make the minimum payments (lies) and that they are going to call your mommy and tell her you’ve been a bad girl (probably also a lie).

Just keep sending the payments and only talk to them about the account once every two weeks. Even if they call every day simply remind them that you are only going to talk to them once every two weeks and hang up.

It *is* a tough road and hopefully we’ll all be a bit smarter for the trip 😉

Years ago I had a friend

Creditors

Years ago I had a friend who settled with his creditors and he told me there is a code they can use on credit reports to reflect neither positive or negative credit rating. Its one of those conversations you think you would remember, but I forgot what the code was and I haven’t seen this friend for years.

But, I would think if you mentioned that to them. I mean ask if they are willing to put something on your credit report that doesn’t state negative or positive, just neutral. But, he said get it in writing before you pay the settlement.