My husband has one bad mark on his credit report and that was $16,713 NFCU cc that was charged off two years ago. He was out of a job for several months and we couldn't keep up with the payments. Trying to rebuild his credit so we can start planning to buy a home in a few years. is it best to accept a settlement offer from NFCU for this debt or should we make payments to pay it off completely? he is the only source of income right now and makes about $55,000 a year. any advice is appreciated. thanks
Any bad mark on your credit it will affect you until its settled or PIF. With NFCU if you can PIF. Theres a better possibility one day to get back in with them. Otherwise the door will be closed.
if we chose to do the settlement would that affect us getting a mortgage? i read somewhere lenders don't like to see settlements on your reports. not sure how true that is tho.