Is this a good idea? I can't pay them outright, but I have 3 COs that I would like to get figured out - 2 are killing my Utilization. They are past SOL, so do you think if I try to get them to settle with payments with them marking as PIF once I pay the final payment, would that be smart? Or should I just keep tucking money away every week and saving up to offer a lump sum settlement for a PIF mark on my CRs?
Ideas? Suggestions? The accounts are:
Cap1 - $2881
BOA - $3514
Chase Auto / Pentagroup Financial (they just sent me a CA letter, but Chase may still own the debt) - around $3500 for Chase, but Pentagroup has it at $4100
I am currently stashing away $200/month (I only make about $1600/month and daycare costs take up 1/2 of that)
Starting Scores: EQ (MyFico): 561 TU (MyFico): 579 - 2/15/13
Rebuilding Scores: EQ (MyFico): 597 (6/11/13) TU (MyFico): 606 (6/12/13)
Current Scores: EQ : 665 TU : 649 EX : 704
Cards: SDFCU $250 | Cap1 Secured $750 | Victorias Secret $500 | Amex BCE $4k | Chase FU $2k | Cap1 QS $1k | PenFed Promise $3.5k | Wayfair $1k | Care Credit $1k
