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Working on my husband's credit repair. He has Business intermingled with Personal. Unsure how to actually deal with that kind of negative info.
My husband has a Cap 1 credit card (personal) CHARGE-OFF for $282. I'm not even going to try to go to them for help. Can someone just tell me if I can make payment arrangements to pay it off and how that works please?
There's a Verizon bill (business) filed March 2012 for $58 showing as a Charge-Off on Transunion, a Collection on Equifax and I do not know about Experian yet. What should I do, just ask for a PFD or pay it?
A Finance Company loan (business) showing as Charged-Off and as a Judgment. $4,934. I don't know if I should offer a 25% settlement and ask for a PFD or what?
There are a three other small collections that are business and personal and I guess I should PFD those??
Here's the KICKER!
1 Individual (business) Federal Tax Lien $23,677 (showing on TU)
1 Individual (business) State Tax Lien $11,740 (showing on TU)
1 Joint (both of us even though I was a stay-at-home mom) Federal Tax Lien $1,645 (showing on EQ and TU, Don't know about EX yet)
Mind you, there could be more taxes unpaid just not showing as liens yet. I just don't know and that's a very dangerous situation. Don't know how to approach that yet.
Thank you all more than you'll ever know!
Any recommendations?
@LShawn08 wrote:
I say offer what you can at its minimum and see what they say and just offer PFD's all around, see who bites. I know tons of people have issues with Cap One but don't count yourself as one without trying first, you could be lucky. Just do it.
Agreed. I personally went to the CEO of Cap 1 for a dispute remark they had on my credit reports when I never initiated a dispute.
@Anonymous wrote:Working on my husband's credit repair. He has Business intermingled with Personal. Unsure how to actually deal with that kind of negative info.
My husband has a Cap 1 credit card (personal) CHARGE-OFF for $282. I'm not even going to try to go to them for help. Can someone just tell me if I can make payment arrangements to pay it off and how that works please?
There's a Verizon bill (business) filed March 2012 for $58 showing as a Charge-Off on Transunion, a Collection on Equifax and I do not know about Experian yet. What should I do, just ask for a PFD or pay it?
A Finance Company loan (business) showing as Charged-Off and as a Judgment. $4,934. I don't know if I should offer a 25% settlement and ask for a PFD or what?
There are a three other small collections that are business and personal and I guess I should PFD those??
Here's the KICKER!
1 Individual (business) Federal Tax Lien $23,677 (showing on TU)
1 Individual (business) State Tax Lien $11,740 (showing on TU)
1 Joint (both of us even though I was a stay-at-home mom) Federal Tax Lien $1,645 (showing on EQ and TU, Don't know about EX yet)
Mind you, there could be more taxes unpaid just not showing as liens yet. I just don't know and that's a very dangerous situation. Don't know how to approach that yet.
Thank you all more than you'll ever know!
Something similar to that happened to my friend's father's husband...
This is a perfect example of why you should never operate a business as 'sole proprietership' unless its operating debt free (which is rare). Once a business has to take on debt it should be converted to a Close Corporation or LLC, in order to keep business debt separate from personal debt.
@Anonymous wrote:This is a perfect example of why you should never operate a business as 'sole proprietership' unless its operating debt free (which is rare). Once a business has to take on debt it should be converted to a Close Corporation or LLC, in order to keep business debt separate from personal debt.
@Anonymous wrote:This is a perfect example of why you should never operate a business as 'sole proprietership' unless its operating debt free (which is rare). Once a business has to take on debt it should be converted to a Close Corporation or LLC, in order to keep business debt separate from personal debt.
It is an "incorportated" business. 17 years old at that.
@Anonymous wrote:
@Anonymous wrote:Working on my husband's credit repair. He has Business intermingled with Personal. Unsure how to actually deal with that kind of negative info.
My husband has a Cap 1 credit card (personal) CHARGE-OFF for $282. I'm not even going to try to go to them for help. Can someone just tell me if I can make payment arrangements to pay it off and how that works please?
There's a Verizon bill (business) filed March 2012 for $58 showing as a Charge-Off on Transunion, a Collection on Equifax and I do not know about Experian yet. What should I do, just ask for a PFD or pay it?
A Finance Company loan (business) showing as Charged-Off and as a Judgment. $4,934. I don't know if I should offer a 25% settlement and ask for a PFD or what?
There are a three other small collections that are business and personal and I guess I should PFD those??
Here's the KICKER!
1 Individual (business) Federal Tax Lien $23,677 (showing on TU)
1 Individual (business) State Tax Lien $11,740 (showing on TU)
1 Joint (both of us even though I was a stay-at-home mom) Federal Tax Lien $1,645 (showing on EQ and TU, Don't know about EX yet)
Mind you, there could be more taxes unpaid just not showing as liens yet. I just don't know and that's a very dangerous situation. Don't know how to approach that yet.
Thank you all more than you'll ever know!
Something similar to that happened to my friend's father's husband...
What exactly? Tax issue?