Right now I am $200k in the hole and have never missed or even been late for a payment. But I am in a position where I am not going to be able to keep this up much longer so am considering a proposal. My question is whether or not my positive credit rating will give me a better or worse likelihood of the proposal being accepted, or does it have any impact on the process at all?
Impact on current credit rating on acceptance of proposal
Posted on Wednesday, July 23, 2008
posted by Questions @ 10:25 pm
1 Expert Comment:
At July 31, 2008 |
10:09 am
, Barton Goth GCO Bankruptcy Trustees Said...
Having a positive relationship with your creditors in advance to a proposal can never hurt the process, but practically speaking the creditors will be more concerned with the percentage of recovery they will received, how the payment fits into the budget and whether or not they feel you are acting in good faith.
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