Rebuilding Your Credit

[llecs]

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mnl22 wrote:

Well, since this post I have organized my debts, and have been just waiting for my job to start( I am a college student) , today I received a letter stating I have a court date in two months , and Chase is seeking a judgement against me for 1000.00 dollars, any suggestions on what I should do ? Thank you.

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First and foremost, answer the court summons, even if you can't pay it. Your next step should be to prevent a judgment. Since you have some time, then do everything in your power by cutting expenses, readjusting paychecks, selling assets, and increasing income. $1000 is certainly do-able. I remember getting really creative in college. Once you have $1000 saved or close to it if you don't have it before then, then call the attorney up and negotiate a settlement. Mail a letter too. Get everything in writing.

In the meanwhile, do your homework. Make sure that attorney is licensed within your state. Make sure you were served appropriately. DV any collecting CA. And contact Chase and ask to negotiate a repayment plan. Even $50/mo would buy quite a bit of time.

[mnl22]

Is it possible if I call Chase before the court summons, that I can make a payment plan?The attorney on the clerk paperwork, should I negotiate with them at all or goto chase?

[llecs]

Call both, IMO. I bet Chase would defer back to the attorney. Get everything in writing.

[mnl22]

I was thinking about sending both a Certified letter? How is that?

[mnl22]

Here is the Update on what I owe:

Chase-500.00 was my credit limit, but due to interest they want 1081.00

Capital One-500.00 was my credit limit, but due to interest they want 896.00

Discover-Past due is 454.00 but due to interest they want 1088.00

Is there any possible way to negotiate to get some of the interest off the amount?

[mnl22]

I sent a E-mail to Discover's CEO, and got a Call just now, Discover is going to basically cut all the interest out of what I owe... Just waiting for it in writing... What else should I ask them to do? Mark it as PIF after then??