Is it better to settle your credit card debt or keep paying on it even if it takes over 5 years to pay it off?

Answer

Are you and do you want to be considered an honest person? Do you want to have any credit rating at all or do you just want to take what you can get?

You agreed to pay for debts that you incurred by using your credit card when you applied for the card. If you find that kind of obligation insignificant and you do not pay the obligation perhaps you could rationalize not paying your bills. Personally, I think it is always better to follow through on a promise.

Improve Answer Discuss the question "Is it better to settle your credit card debt or keep paying on it even if it takes over 5 years to pay it off?" Watch Question

First answer by Redbeard. Last edit by Redbeard. Contributor trust: 1700 [recommend contributor]. Question popularity: 21 [recommend question]

Also see on Answers.com

Research your answer:

Answers.com > Wiki Answers > Categories > Business and Finance > Personal Finance > Money Management > Credit > Credit and Debit Cards > Is it better to settle your credit card debt or keep paying on it even if it takes over 5 years to pay it off?

Our contributors said this page should be displayed for the questions below. (Where do these come from)
If any of these are not a genuine rephrasing of the question, please help out and edit these alternates.
Pay off or settle credit card?  How do you settle credit debt?  Should you settle your credit card debt?  What do you say to settle credit card debt?  How do you settle credit card debt personally?  Do you still have to pay a credit card debt after 15 years?  If you settle on your debt is that better than paying in full?  You have credit card debt from college that you stopped paying about 4 years ago you plan on not paying you at all what are the reprocussions besides sucky credit and what is the statute of limitation?  Is it better to settle your credit card debt or keep paying off on it - even if it takes over 5 years?  How many years does the state of maryland allow you to go without paying a old credit card?  How long will it take to pay off 12000 in credit card debt paying 400.00 per month?