Hello Everyone!
I have been following this site for awhile now and I have learned many helpful tips, so I woiuld like to start off by saying thanks!
Right now I am in the process of disputing the incorret information with the 3 CBs.
Next I will work on my DVs and PFDs.
My biggest problem is my student loans and medical bills. Can anyone offer any quick tips on clearing these?
Introducing Myself
The best option of clearing these items are to make payments on time. If it is not possible for you to repay in full, then you may contact with your creditors and negotiate with them. You may try to arrange a better repayment plan with them to payoff your debt. I think the following links may help you in this regard:
“http://www.essortment.com/debt-advice-tips-paying-off-student-loans-188…€
“http://www.creditcards.com/credit-card-news/medical-bill-payment-tips-1…€
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When a second loan is cheragd off and sold to a collection agency (CA), it's essential that you negotiate an alternative payment plan with the CA. In case you can't meet up with the monthly loan payments, you may settle the debt for an amount less than what you owe to the CA. Otherwise, you may face any of the consequences explained below:* CA may sue you: If you don't make any payment towards the mortgage, the CA may file a lawsuit against you during the SOL (Statute of Limitation) period. Once you decide to settle the debt, make sure you get a settlement agreement in writing from the CA.* Property retains the 2nd lien: The charge-off does not remove the second lien from your property unless you pay it off.However, when the second mtg debt is settled, you may have to pay tax on the balance forgiven by the lender. This is because the balance forgiven or canceled debt is considered as your income. But you can avoid paying the tax provided you qualify for mortgage debt forgiveness.