May 16th, 2012 by Questions
I have been separated from my husband and working on a divorce settlement now for five years. During this time, I incured approximately $15,000.00 of credit card debt. I was paying minimum payments but then he stopped paying support and lawyers fees were eating was left in my budget.
We have finally reached a divorce settlement and I am now in the position to pay my creditors. The two credit cards have gone to creditors and I am not sure how to proceed. I have called a debt management firm and they wanted $2000.00 up front and I felt a red flag. If I settle my debt at a lower amount or pay the amount in full will it still be on my credit report for 7 years? I wish to pruchase a home but with bad credit I am afraid this will not happen. This is so overwhelming. I don’t know where to turn. I want to pay back my debt but I don’t even know where to start.
Thank you in advance for your time and any advice you can offer.
Posted from: Ontario