Question by Delay: Who is best professional to advise on how to clean up old and neglected consumer credit?
I have a friend that needs to clean up debt. Before charging off to be a hero and completely opening a can of worms on her poor soul by referring her to any joe shmo I want to inquire. I require to inquiring because cleaning up credit debt that has lay dormant for years is a tricky situation. The debts have been sold off and as soon as you make contact with the collection agencies all of a sudden the clock starts again and all he// breaks loose.So…we have BK lawyers, credit counselors, financial advisers,etc so which ones are going to truly assist credit debt payoff strategy and report cleanup with my friend’s best interest at heart?Thanks for that…but I disagree. Clearly I am the person to help initially by researching who the best person to go to for advise would be – and then forwarding said information to friend for reexamine. You appear more knowledgeable on the subject than me – great. But you still didn’t answer the question.
Best answer:
Answer by P J
Certainly you are clearly not the one to help because you haven’t a clue with statements like “starts the clock over” without saying what you mean by the statement. Certainly if you agree to make a payment, in some states, that does start the collection SOL again but the reporting length with the Credit Bureaus is 7 years from deliquency.There is nothing tricky at all, you pay the debt and then wait while the negative slowly melt away. You can try and make deals with the creditors to take less than face value of the debt and then that will hurt too.
What do you think? Answer below!