View Full Version : When Paying Bills Can Hurt Your Credit

02-23-2005, 01:57 PM
Hi All!
I thought these were interesting articles and thought I'd share.

When Paying Bills Can Hurt Your Credit (http://moneycentral.msn.com/content/SavingandDebt/P59862.asp)

12 Tips For Negotiating With Debt Collectors (http://moneycentral.msn.com/content/Savinganddebt/Managedebt/P65141.asp)

Statutes of Limitations for Delinquent Debts (http://www.bankrate.com/brm/news/cc/20040116b1.asp?print=on)

Fair Debt Collections Practices Act (http://www.bankrate.com/brm/news/cc/20030519b1.asp)

02-25-2005, 01:24 PM

So, what do you think? I have about $7000.00 of unpaid bills that I am currently paying off. Do you think that I should continue to pay them off one by one as I'm doing? I have come a long way. I used to have about $20,000 in debt.


02-25-2005, 01:59 PM
I'd definitely pay them off!!! That article was mostly referring to folks who have items in collections and/or chargeoffs...some of the pitfalls that happen when your debt get to that point.

I've gone from about $12k in credit card bills down to about $3500. I plan to be c.c debt free by Sept! :D

02-25-2005, 02:18 PM
Thanks for posting Tdhayes! :)

02-25-2005, 02:56 PM
Thanks alot tdhayes! I feel much better now.


02-25-2005, 03:01 PM
Wait tdhayes!

They were referring to me! Most of those bills are bad debts.
I'm just going to continue to pay them off! I think I'll feel better.


02-25-2005, 05:48 PM
Go for it. Personally, I think that you have a little more control when you pay them off as opposed to them going to collections...at least if you have more than one.

I forgot to tell you earlier, CONGRATS on what you've accomplished so far! That's great! You're reminding me of my aunt. She once had about 52 credit cards and ALL of them had something on them. Needless to say, she had about $30k in credit card debt. It took 7 seven years and working two jobs but she paid off all of them! You go girl!

02-26-2005, 12:12 PM
They say never say never!

Let me tell you! When I get my behind out of this, you better believe I will NEVER, NEVER, get myself in this situation again. I have learned from my mistakes. Every lesson should be a lesson learned.


Thanks tdhayes :P