>be retarded>get into 40k of debt over the years>get windfall of 70kGod has blessed me with enough money to fix my mistakes. I want to pay this shit off, fix my credit score and use the remaining 30k+ to start building wealth. I plan on calling up each collection agency, trying to haggle the debt down to 2/3 or 1/2 and then paying it all off. I want to wipe as much info from my credit history as well though, which I've heard requires calling each major credit beureau and paying them additional money to remove records, but I'm not certain. Even after all that, I don't know what to do with what I have left. What would you do with it? I am asking to be spoonfed, but please know by helping me you are helping a mildly retarded, middle aged, alcoholic man right his wrongs and become a somewhat contributing member of society.
>>59612709I'll put like 20 bucks on it
>>59612696First off, look up the statute of limitations in your state and figure out whether or not any of them can still potentially sue you. Any debts outside that statute of limitations shouldn't be discussed with a collection agency at all, because that can reset the clock.Next, look at your credit reports and figure out if any of your creditors are actively reporting to credit bureaus every month, or if it was just placed in charged off status / sold to collections years ago. Those active reporters are the ones you want to deal with, because it won't drop off your credit report after seven years from the date of delinquency, it'll be seven years from the date the account's settled.You can probably haggle the collection agencies down to 25 or 33% if you don't do something dumb like tell them you made bank. Start at 10% and work your way up.Personally, I'm planning to put any decent money I make from crypto into YMAG, which is a weekly dividend mutual fund with good diversification. You don't get a whole lot per share, but if you have 2000 shares, you'll get an extra $100-400 bucks a week approximately without touching your seed capital. You have to pay taxes, but after a while of holding the underlying stock, dividends start counting as capital gains.Actually, you could put all the money in YMAG and then use the dividend income to pay your debts. Depends on how fast you want to get it paid down.I will add that discharged debt is considered taxable income by the IRS. Pay 5k of a 10k debt and the other 5 gets written off? Congratulations, the written-off portion is now considered taxable income for the year that you paid it. You may not want to pay it all at once to avoid getting fucked in taxes that year.
>>59612696Fullport Litecoin
>>59612874Very good info, thank you man.>You can probably haggle the collection agencies down to 25 or 33% if you don't do something dumb like tell them you made bank. Start at 10% and work your way up.Thankfully I'm not that retarded. I'm going to make it seem like I'm as poor as possible. I will tell you though, I've been surprised by how little collectors will settle for, especially if it's a debt that's been sold multiple times. I've had several collectors willing to take 50-60% out of the gate by just saying, "I'm willing to pay the debt in complete today, but my offer is X", and they usually take it.
Bump
>>59612930make them send you the agreement in writing, and make them remove the debt from your credit report. make sure thats in writing too.but yes good job anon go redeem your credit saar
>>59613848Good idea.
