I opened up several lines of credit for an LLC I had with a business partner. Things went south and the business has folded. I am liable for all the debts. 3 accounts are in the LLC name and list me as a guarntor. None of them show up on my credit report and I have not made payements in 6+ months.

I have 4 credit cards that are in my name soley that were related to the business. 2 are with syncronay bank and those have both been "Charged Off." I have spoken to them about settlements, and they will only report it as a settlement. Even if I pay in full it will still show as a charge off. Another account is charged off, and a credit card from a bank is closed, but has not been charged off.

I do not want to file bankrupcy, but from what I read- a charge off and/or settlment of any kind kills your credit and will not be viewed well by a mortgage company for 7 years. What is the point of settling, or even paying in full if it will hurt you for 7 years?

I do not want to do anything with the accounts until I know the best avenue to go, as payment is my leverage. Would a credit repair company be my best bet to fix these issues (if fixable)? Is multiple settlements and charge offs just as damning as 1?