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  1. @hdporter @shifter bit the bullet. sounds like the best way forward. thank you!
  2. @hdporter : thank you for that. i talked to them just now and that is 'exactly' it : 2% a month @ 5.9%. I will look for the 8 year option. This will be great until this Covid thing passes or sooner. are you aware if other creditors (citi, chase, us bank) offer similar terms?
  3. thank you @centex @shifter @hdporter @mendelssohn two more questions as i negotiate with barclays: 1. it is an automated system and they are coming up with a number that does not work for me and i can't get to a human that can do anything 2. is it worth going through a hardship program (as i need to negotiate with other creditors also) or that 'looks' worse or is worse for reporting and it is better to do this myself? thanks!
  4. thank you @centex and @hegemony. @hegemony : checking to see if they will report as revolving or installment. @centex : where is the derogatory? if it is closed by consumer and current, then there should be no derog. yes? i am on time across the board and if i did not have a high credit balance, my score would be super. another point: i have several creditors. one option is to go through with hardship programs and the other is to default and negotiate down to 40 cents on the dollar. i prefer the former and also believe that this will be the fastest way back to a good score. am i right? thanks!
  5. Thanks, Hegemony!. You are the best. 1. It is 20 days late. I believe if I cross thirty days, then it will report 30 days for 5 years. 2. There are no negatives (yet). 3. It is not a new loan. Same trade line being paid off at 5.9% over 60 months. Will double check. 4. How will it report? I do not know. Maybe 100% utilization is accurate. And 'current' and 'closed by issuer'? 5. Will other creditors start reducing/closing because of this? 6. Will review contract terms. I will have to find it. Haha.
  6. Hi Am unable to keep up with my Barclay Cards. They are offering to permanently 'close' the accounts. And, also move the debt to a low interest 5.9% and fixed payments for 5 years. I want to move forward with it. How will this impact my credit bureau reporting? Are there better options? Thanks!!
  7. grazie! pragmatic trumps idealistic. thanks.
  8. ok! so i informed the creditors. now a friend tells me that i should make a payment, however small say $5, to each creditor. he says, it establishes trust etc etc. good idea?
  9. ok. so to be totally clear before i pull the trigger, you are saying that it is not going to impact the fico score. yes?
  10. thanks. i do not see the anecdotal information on how FICO scores it. please advise.
  11. hi! i have a few creditors take no payment, no interest for the month of april. however, it will get reported on my credit bureau as 'disaster based' does this affect my score? thanks!
  12. thanks @centex and all: how about california?

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