Help....all Cards Closed....scary Numbers

[epsix]

Hi

I am a graduate student who had a few(7) credit cards.For the past 8 months;my assistantship got robbed and I had to pay my tuition.That sealed any ways of payment to the credit cards; and I used to receive mails from the services which I did not reply.

Now I am graduate and want to start negotiation with the cards through monthly payments.But whichever card I call; I hear it is no longer with a bank but with an agency with a 1 800 number to call.

What am I up to?The people said once u pay them the money back;your debt is settled but card is closed..............this means am I charged with interests even now???

Is there any way I can recover??What are the things I need to do with this???

I desperately need some advise

[AMJ21]

Your interest days are over. Your accounts have been sold to an agency. It could get worst tough. They can, and will, tack on fees.

Whatever you do, if you decide to pay them in full or over time, make sure you negotiate, among other things, PFD (payment for deletion). You need to get it in writing otherwise they'll "forget" when the time comes.

[epsix]

Thanks sir

1)Now I am in pursuit of a job; once I get it(may be 1 month) I can start payment the very next month(MARCH) ......I hope the debt amount wont increase??

2)The card balances are not herculian figures;I can pay 1 or more than 1 cards in a single payment installation.....so what should I ask them to do once I settle the debts?

3)Should I have to pay an amount far more than what I owe now?
for example...............
I had a card of 2500
The amount increased to 3500 and the card was closed.................

That means I have to pay 4000 or even a much more amount????

4)What can I do to avoid them tacking with pay???

Thanks again

[epsix]

Am I declared bankrupt??????????

[AMJ21]

Quote:

Originally Posted by epsix

Now I am in pursuit of a job;

Do you know your CS and the effect this problem had on your CS?

A potential employer most likely will pull a Soft on you to determine your credit worthiness. Don't volunteer any information but make sure you have an explanation.

[InDebt130]

I would check your credit report and see who is posting negatively on your report. If there are a ton of things on there that are negative you should tell an employer that pulls your credit a good story. If they are really late then you can negotiate them below 55% for sure. THen it would just be a matter of repairing your credit by disputing the negative marks. Also just get a good job and save and rebuild your credit. Also about the whole country right now is in a lot of debt so people are settling like crazy.