I previously posted about a debt I owed for attending a school for a semester.... Case was taken to court and a judgement was entered on my CR! Total amount of debt with interests and attorney fees is close to $19,000!!!!
I recently got in touch with the school to try and settle and was told I had to get in touch with the collection company which is a law firm. I got in touch with them to try and negotiate and they called me back to say the original debtor is willing to accept $6,500 and remove the judgement from my CR. I tried to negotiate lower but the law firm says this is the minimum original creditor will accept. They want me to pay 271 monthly for 24 months. This sounds like a good deal but I can't afford that amount right now!! I tried to get a loan from credit union to offset this debt and pay union overtime but credit union only approved me for $2k because of my income!!
Now my questions, Can I call the original debtor and try to negotiate lower? If they accept to lower to 4k can I pay them off with a credit card?? This way I only have credit card debt to worry about. Any advice as to what to do in this situation?
I really want to take care of this judgement as it is the only single thing holding back my scores. My Transunion is 700 at the moment(aDiscover Fico) Another reason why i want this judgement gone is because there is a plan to get a house within the next two years... I also want it gone so the creditor does not come for my car later.
Discover IT $25,500 Chase Freedom $14,500 CapOne QuickSilver $10,000 Walmart Mastercard $10,000 PayPal Xtras Mastercard $10,000 JCP $7,500 BOA Cash Rewards $6,900 OldNavy Visa $5,000 BarclayCard $3,700 Macys $3,500 HH Gregg $3,500 BestBuy $2,000 Last APP June/2016(useless rental apartment)Inquiries: Trans/7 Exp/16 Eqi/27
(1 Car Loan @2.74%)
