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Originally Posted by ektorp
i can make payments to pay off debt but my issue is why pay off debt when my credit score is already shot
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As I've said several times before, posts like this make me think the whole country has gone morally bankrupt.
Why should you pay off your debt? Because you agreed to do so when you borrowed the money and you have the means to do so. You have a legally binding contract with the lender to do so.
It is not the lender's fault that you bought a home you couldn't afford and made home improvements that you also couldn't afford. Why should they negotiate with you when by your own admission you have the money to pay this debt? If you were unemployed or disabled or buried in medical debt and really didn't have the money to pay the bills, that might be different, but that isn't the situation you are describing here.
Pay your bills. Don't look for ways to get out of meeting your legal obligations.
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i am now being advised to settle my debt for about 20% of what i owe.
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I'm curious where this advice is coming from.