general credit issues

[Anonymous]

My place of employment down sized.  Instead of laying me off. They cut my hours... I was not  able to keep up with my credit cards. So, I made settlement with all my creditors... Can I have these settlements deleted from my credit.  If not how can I rebuilt my credit.....

Ps.   it is really looking sad at the moment.... However,

[llecs]

I was talking to a friend of mine yesterday at church. He went from 40+ hours weekly with overtime at least every other week to just 16 hours per week with the same job and company. Thankfully he has no debt and rents, but he calculated his budget and after medical and taxes, he only had $8 to live with for this coming month for food, transportation, and so on.

If your settlements are reflecting at $0, then you could get them deleted. If any of them are CAs, then send a GW. They are not helping at all. OC accounts with the word "settled" scores about as bad as a CO. You'd want the word "settled" removed. You could send a GW asking for that to be removed.

[Anonymous]

Thank you so much for the information.  I am going to try the gw letter and see if that works...