perplexed atm.....

[madmann26]

So after 2 weeks, I finally found the right people to take care of my Cap1 account with. They are offereing a modest settlement. Question for the board,

Do I go ahead and do the settlement and THEN start rebuilding (with a couple of secured cards) or do I get my first secured card first and THEN settle?

/perplexed look.

[Shogun]

I don't think it really matters on that one.  Are they just settling or doing a PFD?  That might make a difference.

[madmann26]

Shogun,

Settling. However, that balance is factoring into my utilization which is crashing my score. I'm toying with the idea of paying it, and GW'ing the bejeebus out of it.

[Shogun]

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@madmann26 wrote:

Shogun,

Settling. However, that balance is factoring into my utilization which is crashing my score. I'm toying with the idea of paying it, and GW'ing the bejeebus out of it.

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Oh yeah, that figuring into util will kill your score.  That might not be a bad idea, get rid of the debt, start the GW process and get your secured cards.  That's 3 steps in the right direction.

[madmann26]

Thanks Master Shogun,

Just wanted someone else to sanity check me.

[Shogun]

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@madmann26 wrote:

Thanks Master Shogun,

Just wanted someone else to sanity check me.

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I think I like you!  LOL

[madmann26]

and paid.

Just that fast.