A question about my delinquent accounts?

Question

Ok, so 2 of my 6 closed credit cards have been referred to an office for collection, due to my hours being cut from my job i couldn't pay those cards anymore, but i am slowly but surely paying off my open ones.
My question is this: when will it be the best time to contact them to settle?  Because every time i try to pay these cards off, something happens and i am back to square one.  Should i contact them after i pay off my open cards or before that?

Thank you!

Go with the flow · Accepted Answer

You could settle with the ones in collections.
With accounts in good standing, they will not settle.
^just making sure you know; some people don't know this.

When to settle with collection items?
When you have enough in savings to offer at least 1/2 of what you owe.
Do you have any savings at all?

C4TZ ЯU13 · Answer

pay at least the minium of the open cards, or they will be withdrawn. contact the company(s) with the  closed accounts and ask for a repayment plan which you can afford, you are probably paying a higher rate of interest and fees on these accounts, these debts will be accuring interest so the debt will be increasing. so the sooner you act the sooner you can clear these debts.

Anonymous · Answer

If these accounts are past the Statute of Limitation, you do not have to pay them a cent. If you wrote checks to these agencies, I suggest you close the account and go to a different bank because since they have your info, they can debit the account

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A question about my delinquent accounts?

3 Answers