jojoblevins

I am going to give a shot out to CAP One. I opened an account last winter and was given a low limit $1k, they sent me an offer of upping it an additional $750 for paying timely for either 3 or 5 months. In December I received another increase of $5k. During this time I charged it heavily each month and paid it off in full each month. I did not ask for the credit increase but was very pleased to get it.

We stopped paying last January and moved out in the middle of August. We were required to move out at that point but they made us wait until October before they finally got the paperwork handled.

I am hoping for some more responses because I don't want to start to soon and ruin my chances. Thanks

Hollywood Video did this to me about 12 years ago. Evidently when I returned the rental video to them I put it in their case but it was not the correct video. I did not notice until on chance I pulled my credit report and there was a negative line from them. Prior to this I received no letters or phone call about the matter. I paid them $130.00 to basically remove it from my credit report. I stopped renting from them because of this and I know my husband's niece had them do something very similar to her as well.

""So while the DIL is processing, do you stay in the house without making payments?"" Yes but you do not stay in the home as long as you would if it went to foreclosure.

I can't say how long it will take but you do need to pay HOA as they are not part of the house.

Thanks, I appreciate the input. It seems a lot of the information I am finding is dealing with CA's and I am dealing entirely with original creditors.

I also had a mortgage with them but did a deed in lieu. They would not agree to remove lates but I was more concerned with getting out of the burden of debt than I was with how much easier it would be to get back into debt.

I stopped paying and once I did they were willing to settle. I kept one card so I could rent a car etc but that card I did not have a balance on.

I recently settled with my credit cards prior to them going to a collector and did a deed in lieu on my house. The last of it was wrapped up last month and when I pulled my credit report the only other negative item is an old student loan that was consolidated 5 years ago. Is it too soon to try to get these items off my credit report? Is it even likely I could get a deed in lieu or student loans removed? I have been so wrapped up in getting out of the burden of the debt that I have no real plan for improving my credit besides timely payments. Thanks

BOA offered me a settlement of 65% after three missed payments. I held on two more months until they agreed to 32%. It was worth it to me to have it done and avoid another strike when it was turned over to collections. You should take the deal even if you have to beg, borrow or steal to get the money.

I was not required to offer my home for sale. The offer was basically take it or leave it on the compensation but it was fairly generous when compared to what we would have gotten if we foreclosed. BOA ultimately followed through with what they said they would do just not on the time line they said it would happen.

Yes. I negotiated a settlement with all of my credit cards and it was actually fairly painless, fast and easy. I paid about 40% of the debt but some cc's accepted less, none of them were turned over to collections (that was one of my goals). Keep calling until someone agrees to help you. Good luck

It seems worth a try. Though I never asked for a deed in lieu they sent me an offer unsolicited. I do think the impact on my credit has been less than a foreclosure as I just got an unsolicited (but welcome) $5000.00 increase on a credit card.

They are currently farming out more of the DIL work to subcontractors who are far better to deal with, however the DIL terms are still far from "mutually" beneficial. In my case this was the best of the bad options available to me. I was extremely underwater, I was planning on moving to a different state and none of the houses in my community were selling even bargain basement short sales. I do not think this is the best option for most people but for me it was.