I need to fix my debt, I need your advice

iwasyounganddumb · #1 (**permalink**) 08-06-2009, 01:07 PM

I need to fix my debt asap, can anyone please give me some advice??

I am a soldier in the US Army. I have old charge-offs from 4 years ago (before I joined the army). 3 different collections accounts, all together, totaling around $30,000 (as per my credit report), 3 different debt collecting agencies. I have never been contacted by these agencies.
I need to at least bring these accounts to a current payment status and be able to provide proof that I am making payments in order to obtain a secret clearance for a government job offer I recently received.

Can anyone give me some detailed advice on how I can quickly bring this debt to a current payment status to acquire the secret clearance? I only have about $4000 saved up right now, but if I get this job I would be able to pay the debt off very quickly. I need advice, I need to pay off this debt so I can feel better about my life, I don't want to hide anymore. I know about the 7yr statute of limitations and I can't afford to wait another 3 yrs until it disappears off my credit report.

sapphirecapital · #2 (**permalink**) 08-06-2009, 01:22 PM

negotiate, contact them for a current account; when you have the details negotiate, if it has been that long they may settle for 10%, tell them you want to clear all this and ask them for an offer, its bazar! remember everything they waive will be considered taxable income. use a pobox address and a specific email address to keep traffic coming to you under control, Good Luck!
PS.: I believe the army has a service for this

iwasyounganddumb · #3 (**permalink**) 08-06-2009, 02:44 PM

so i should just call them on the phone?

sapphirecapital · #4 (**permalink**) 08-07-2009, 03:07 AM

but block you caller id

Fay · #5 (**permalink**) 08-13-2009, 05:50 PM

I wouldn't worry so much about calling them, I'm sure they speak to people in situations similar to yours all the time, I don't think we realise how common the problem of debt really is.

sapphirecapital · #6 (**permalink**) 08-14-2009, 12:46 AM

indeed it is common but you want to regulate access to you just in case the guys are not reasonable, play with open cards as much as possible, but make sure they understand that they have to deal, I had a friend in the army with such a problem and frankly they had an office to help and they were good, so I would research it

Fay · #7 (**permalink**) 08-14-2009, 03:26 PM

Have you spoken to any debt counsellors for help? They'll probably have the info that you need ..

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