How will getting a lawyer to help work with collection agency affect my credit?
Kimberly M asked:
In June, I got involved with a debt settlement company that has caused me nothing but trouble. I got my money back from them, but my two bank of america accounts were sent to arbitration. I am having trouble getting a loan to pay off the accounts because of the 30 days past due notice on my credit report for those accounts. Even with a co-signer with perfect credit, we have ran into various problems, such as living in different cities. My parents said to contact a lawyer and they would be able to set up payments for me, but I am wondering what that will do to my credit.
In June, I got involved with a debt settlement company that has caused me nothing but trouble. I got my money back from them, but my two bank of america accounts were sent to arbitration. I am having trouble getting a loan to pay off the accounts because of the 30 days past due notice on my credit report for those accounts. Even with a co-signer with perfect credit, we have ran into various problems, such as living in different cities. My parents said to contact a lawyer and they would be able to set up payments for me, but I am wondering what that will do to my credit.
Thanks!
The collection people said I still have a pretty good credit score, but I just want these past due balance notations to go away so my score will go back up. I have never made a late payment before. I don’t want to file bankruptcy either as I would like to buy a house in a couple years. The payments they offered me are $1800 per month for six months. I can’t afford that.
