The Best Way To Settle Your Unsecured Debt Now

Has your credit card shelling out obtained out of hand? If you’re like many of us who are utilizing their bank cards to purchase living expenses because of a lowering of their pay out at the office, you are not alone. With this lower overall economy, many people are dwelling hand to mouth and paycheck to paycheck, letting charge cards fill the void that the paydays can no longer cover. But many people are discovering by themselves not able to meet the minimal monthly obligations on the a number of credit card company accounts, and this might lead to thoughts of probable bankruptcy actions only to recuperate. Which is exactly where credit card debt settlement comes in to play.

How Credit Card Debt Settlement Operates

Credit card debt settlement basically refers back to the procedure for eliminating your credit card accounts with each and every bank and visiting a partnership about pay back which is typically on your behalf. Credit card debt settlement can let you pay out below the quantity owed or under the principled payable to the charge card organization, personal savings you lots of money. And credit card debt relief can let you steer clear of bankruptcy which could leave a terrible mark on your credit from you could possibly not recuperate for up to several years.

Being qualified For Credit Card Debt Settlement

You can now be eligible for bank card settlement, although every single standard bank or loan company that problems bank cards have a distinct definition of who may possibly meet the criteria. Some banking institutions or loan companies may well request that you just demonstrate your monetary hardship. A lot of lenders will be satisfied with as few as thirty percent of just how much on account of them, and enable you to make monthly obligations before you eliminate them. They create the remainder of the accounts off of being a bad financial debt. Your monthly payments derive from what you could manage which is determined by your income and the other charges that you simply are obligated to pay month after month.

Determing The Best Credit Card Debt Settlement Organization

One of the most critical aspects of coordinating your credit card debt relief is discovering the right credit card debt relief business to use. As with every good thing, there are plentiful cons on the market that you ought to know of, and many deceptive or not qualified debt settlement companies which can be supplying to stay your personal credit card debt instantaneously. Look into the business background to make certain that they have experienced good results previously, and opt for a well established company which has a n established document.

Bear in mind that although a firm may advertise themselves like a not for profit firm, it could be loaned by the cardboard businesses you are discussing with which could mean you will get under interesting terms and must pay over you’ll with a neo-one-sided company. There are several on the web credit card debt relief companies that you can also explore which may have an incredible reputation supporting other individuals. Look for for on the internet alternative to credit card debt settlement because they tend to save a little money with diminished costs which enable it to get the job done just you’d like offline choices.


  • Cole says:

    she owes 25K on credit cards and unsecured loans. 1 option is Debt management, a higher payment over more time but less credit damage. Another is a settlement, less $ paid off sooner but seriously dinged credit. She still may move once in her life, meaning a lease or purchase. Suggestions?

  • Antonio says:

    I have some credit cards in collection and some others that I am a little behind on. Is there a program I can get into to try to pay off all my debt and save my credit score?

  • Jacinda says:

    I don’t have a lot of debt, but it is enough that I just can’t pay each bill per month. I had to move 2 times in 6 months and now I am paying off the penalties from having to cancel the utilities early. I also have two medical bills that are really high and now I’m having to pay off those too. I am only a teacher’s aide so I don’t get paid well so it’s hard to pay off my bills and still have money to live on. Someone please help!

  • Oliva says:

    Settle an argument for me between me and my husband. I say that a credit card is an unsecured debt so doesnt need to be paid after the card holders death, he says that the debt is passed to the next of kin.
    Who is correct?
    Thanks ‘Jessica’ for your answer, I am right then, you say we are both wrong, then re-iterate what I said. Weird!!

  • Rodney says:

    Hi I have a personal unsecured dept and am being pursued for it by dept collectors. I don’t own a house or car and and they haven’t caught up with me since 06 when i stopped paying it. im self employed with no work. What should i offer them as i feel its in there interest to settle as you cant get blood out of a stone and im quite prepared to go bankrupt if need be

  • Michel says:

    Would I be better off getting a lawyer to settle my debt and could they combine my debt into one monthly payment? or do i have to go through a debt consolidating agency? If I go to a debt consolidating agency does it all have to be credit card debit or can i have some unsecured loans also. And my spouse has debt that is about to fall of his credit report should i just wait for it to fall off or try to settle it.

  • Milo says:

    People state that a debt settlement company helps people in all their debt issues. What kind of debt settlement companies should we prefer?

  • Berenice says:

    I need some advice, got laid-off and in trouble with credit cards to pay for essentials. Still don’t have a job but I am interviewing. Even if I get a job, I can’t manage the debt which is now around $75000. I have heard that card companies will negotiate and settle for around 50%. Don’t know what to do.

  • Ross says:

    I have heard on the radio about a program that, if you have over 10,000 in credit card debt, will cut your debt in half as part of the Recovery Act. Wouldn’t something like that hurt your relationship with the card issuer

  • Shannon says:

    we modified our home loan with our mortgage company and they lowered the rate and tacked the past due onto the back end of the loan. can we file a chapter 7 now to rid the unsecured debt?

  • Stewart says:

    We have mortgage salespeople who aren’t working mortgages due to what’s going on in the economy. We are looking to convert them to unsecured debt consolidation programs, but aren’t looking to do the heavy lifting involved with settling this debt, but rather are looking for some reputable companies who handle all the back end, and are simply in need of fronters like what we have.

  • Jacki says:

    We live in Missouri. She has not been able to make a payment in over a year and a half, since my dad passed away. She can barely afford to feed herself and considering the original amount has been doubled to over $6,000, there is no way she can pay this. She is afraid that she is going to loose her house. What is the best course of action?

  • Corinna says:

    I have all credit card debt about $50K I want to pay this off what is my best option!

  • Luciana says:

    Has anyone dealt with Debt Arbitration, what can I expect as a result of using their services?

  • Darnell says:

    I have 3 foreclosures, 1 reposession, and 6500 in unsecured debt that are either in collections or have been charged off. I am indecisive as to whether I should file bankruptcy or just settle with my creditors. I would like to get a clean slate in regards to my credit but I’m not sure which option would be best and which would effect me greater. Also, well the lenders still come after me for the foreclosures that occurred? Please help!

  • Junior says:

    I have some serious debt issues and need some help. I talked to a debt settlement company, but I can’t find any specific information about them. Does anyone know about American Financial Services or Axiom Financial Solutions? And does debt settlement really screw up your credit as badly as some would have you believe? It seems to me if you have unsecured debt you can’t pay that would damage your credit just as badly. Help! I need info from somebody who knows about these things.

  • Nichelle says:

    I have received a summons to appear in court from a collection agency attorney firm. I do not recognize these credit card debts, dont think they are mine, and they are 5 years old. I am unemployed. Can they take my car? What can I expect in court?

  • Anja says:

    Facing an unsecured loan that was taken out in the early 2000’s and was not pursued till 2011. Does the creditor have any real basis for their claims in a civil suit(asking for money despite the lack of money previously asked for). To me it sounds like the person has gone broke and now just looking for any money possible.

  • Clayton says:

    I am a settlement specialist and started my own business instead of contracting out my services. Email advertising is a productive way to people looking for help to go to your website. I am a lagitament company and am not out there trying to take money from people by over charging them. I do what I do because I have been in the same perdicament and just want to help people so I have studied the laws and have been doing this for 5 years. My son and I were ranked top settlement agents in the US for 2006. So I need to find email listing to help me bring in new clients to help.

  • Perry says:

    Well the thing is pretty simple, i used to work one summer in us 5 years ago, opened couple credit cards and unsecured loan. i have not payed them back, and now i am willing to go to us to study. Could this debt from past be a reason for us officials nat to issue a student visa to me? Or they have nothing to do with someones finances?

  • Temple says:

    If you have your house reposed and you owe mortgage company and have a secured loan on house, what happens if mortgage company sell house for a lot less than you owe both them and secured loan?

  • Shad says:

    Do you know of any results the company provided – good or bad? Thanks.

  • Linwood says:

    I am wondering would it be faster and better to consolidate our debt or to just research how much we owe to each individual company and pay off a settlement that we negotiate?

  • Dione says:

    Can anyone tell me if I can terminate a contract with a debt settlement company and not have legal issues with the company.

  • Earleen says:

    Which would be best if you have good income but not enough to meet monthly bills, utilities, unsecured debt & your house is upside down $188,000, due to adjustable arm and drop in value? Would you recommend using a paralegal, attorney or debt solution company (unsecured).

  • Kent says:

    My boyfriend has a lot of credit card debt – 35000$$!! We are trying to get a hold of this. Is it a good idea to get a bank loan to consolidate this debt??
    Any advice is appreciated!

  • Dwight says:

    I see alot of advertisements for debt settlement where a company charges you a fee but then gets your unsecured debts settled for partial of what you would have to pay them off as. Is it morally wrong to default on your cards for three months then have a debt settlement for less than what you would have to pay if you are way, way in over your head?

  • Nova says:

    I am in the idea of enrolling in a debt settlement program. What are the responsibilities once I enrolled?

  • Joette says:

    I’m looking to settle my credit card accounts, and have stopped paying them for one month. I understand after several months they will try to settle for less then the actual amount owed, or I can work with a debt settlement company.

    I’m concerned though, that they can freeze, or directly withdraw money from my bank account to pay on those debts.

    I live in Pennsylvania and have seen cases similiar to this on Judge Judy and those types of shows.

  • Milda says:

    a lot of money to the I R S . I am set up in a payment plan with the govt at this time. would my wife or children be responsible for this debt if something were to happen to me? none of them are officers of the company or have any say with it

  • Fredia says:

    I have a Sears card, for many financial diffuculties in the past few years, I have not been able to pay this account. They are telling me that I have to “resolve” this before 5pm today in order to stop the judgement agaisnt me. They are saying if I do not pay then I will face wage garnishment, liens, etc. What can they acutally do to me?? Please help with info…

  • Melodi says:

    Can someone please let me know the name to a credit card debt settlement company that does the right thing.

  • Alton says:

    I’m a 24 year old single mom of one….I do not live above my means in any way yet we usually don’t even make it paycheck to paycheck. It is so frustrating not being able to just do….needing an oil change is a struggle nevermind my son wanting to do tae kwon do. I see so many people that have so much more but make around the same amount of $ and it makes me want to just go ahead and build some credit card debt. I’ll die owing somebody something, right? I’m not the type of person that would splurge on nonesense, I would use it when I can’t make it to pay daycare instead of going to my mom is trying to prepare for retirement next year. I feel like I will never get ahead otherwise….is it really that terrible to have some credit card debt at a young age. Any advice would be most appreciated.

  • Izola says:

    I had an unsecured loan that went into default back in 2002. I was not able to pay this debt before now and contacted XXX to find out about settleing this debt and they told me it was almost 6 Grand. The org loan was for 1002.98 This has to be illegal on some level…. Does anyone have any advise or links to referance. No rude answers please. Thank you :)

  • Jacki says:

    I have close to 20k of unsecured credit card debt from different creditors. Some of them have been willing to cut the balance in half in order to settle the account. Should I attempt to individually settle with them? Or do I take out a consolidation loan for 20k?

  • Chester says:

    I’ve heard of companies like that will settle your credit card debts for 70% of the amount owed. I’ve also heard of government grants to pay unsecured debt(credit cards), but I don’t know where to get the info on them. I’m considering a second mortgage to pay these off with a lower interest rate. Thoughts?

    We no longer use credit cards, so the balance only increases because of high interest rates.

  • Alana says:

    I do not have good credit. I have a few debts on me I am trying to pay off.
    I am 21 and would like to buy a house in a few years.
    What are some things I can do to get my credit score up besides paying up the debts???

  • Donette says:

    I want to settle my credit card so I have a idea to get loan on my house. Is it good idea to settle down the previous debt.

  • Rowena says:

    I want to work with a debt consolidation company that pays off the debt on your credit report quickly and have you pay them monthly. I do not want a consolidation company that only pays the collectors as you pay them.

  • Ruthie says:

    My mother will be going from short term skilled nursing to custodial care in the next week or so. Her only income is Social Security, and no home, no car, no assets. The only thing she has is her pre-paid burial plan, and we are doing spend down with remaining savings on her funeral pre-planning. Her savings won’t completely cover the funeral pre-planning costs.

    The issue we have is she also has about $5,000 in credit card debt. If she’s on Medicaid, can we just ask the company to write off the debt? Any suggestions? How do we approach them, and when?

  • Karl says:

    I just graduated school and racked up $8,000 in credit card debt. Luckily, I avoided the whole student loan mess, but I really need to get control over this lingering debts. I have heard good and bad things about debt relief companies. So i was just wondering is someone could direct me in finding a legit company. Also, any info on debt relief is much appreciated.

  • Mark says:

    I I have three cards which I owe a total of 50K on, I cannot pay them anymore, I wanna see if my aunt will give me 20K to settle. I do not want to go on a payment plan, I just wanna get this shit outta of my life. Can anyone please help me and let me know what the repercussions are as detailed as possible if I do this, I greatly appreciate it.

  • Marnie says:

    I’ve been paying on an unsecure loan for a year now, but I really want to get rid of it asap. Im young and I am still learning about this credit stuff. Is it possible for me to refinance it a secured loan? I have a car that I no longer want or use and it’s value is equivalent to the loan amount. Would the credit union settle the debt like that? Do i have any other possible options?

  • Cory says:

    I owe a credit card company money. They put a lean on my bank account, but there is only enough money in my account to cover about 20% of what I owe them. If I let them petition for the funds, and they get it, can they get a new judgement after that for a lean on my bank account again??

    Please provide references if possible.
    Also, please don’t give links for debt relief companies, I just need answer to this!

  • Lewis says:

    I am in a industry that deals with peoples secured debt and all types of credit but I’m looking for some positive and negatives views/experiences. I’ve been asked to help someone make a decision or at least inform them the best I can to make a decision on their own. The situation is 3/4 accounts with 70k of unsecured debt.

    Is it best to try to settle on your own? with a company? which company? use a attorney? etc…

    Thank you in advance

  • Brice says:

    A few years ago I settled a debt with a credit card company and I had to claim the part of the debt that was forgiven as income. Now here it is about 8 years later and I am having to file chapter 7, with all the $25K in unsecured debt that I have, will I have to claim this as income too?

  • Ruthie says:

    I’m taking out a loan to pay off all my creditors, but how should I go about it? I have been past due in all of my accounts for over 2 years, and all of it is unsecured debt. I owe between $9,000 and $19,000 depending on the reporting agency. Should I just pick up the phone and start negotiating with them? What terms should I settle for? I’m wary of debt consolidators, so should I go to a CPA if I want professional help? And, should I get professional help?

  • Micheal says:

    My credit to debt ratio is causing problems on my credit report. I have two cards that have a 23.99% interest rate and decided to pay them off with a debt consolidation loan while paying off the balance on my other cards. By putting those balances on a loan leaving the cards with a zero balance will that help my credit to debt ratio on my credit report?

  • Christen says:

    I have a lot of debt and companies have been contacting me offering to settle my debts for a fraction of what I owe, are these companies legitimate? Can they charge me a fee for their services?

  • Joanne says:

    If one has settled ( with the collection agency, and has the letter stating no further responsibility to the account) an unsecured debt that went to collections, can that be written off on a tax return?

  • Sondra says:

    I have an unsecured line of credit that I am going to stop paying on. What can the creditor do to collect? I am not working so I don’t have income that they can attach. I do however have assets. Can they attach my assets if they are in both my name and my husbands? Can they attach my business assets?

  • Eliseo says:

    I have very low to poor credit. I plan to open up a credit account in the amount of $500 with a credit union to start earning a better score. Will it benefit me to start paying off my existing debts now? Or will my credit score improve just the same if I, say, waited one year before attempting to pay down my pre-existing debt? All of my pre-existing debt is medical related. I could set up monthly payment plans but I would love to save as much as I can right now to get settled into an apartment and place to live first this year.

  • Tamatha says:

    My credit score is probably around 400. The reasons are credit cards and a school loan of 38,000 that I have not been paying. I really want to start fixing this. I can’t even get an old navy card with my credit score. I really need some help here.

  • Modesto says:

    I am getting a loan from my bank to pay off my credit card debt. I wanted to know if there is a way to go about getting some of these companies to settle for less than is owed?

  • Jefferey says:

    A friend has been looking for work for 9 months and living off of credit cards. He started a job making @ 80% of what he was earning when he was laid off. Short of bankruptcy how can he renegotiate these loans and get them paid off?

  • Chana says:

    I have credit cards debt that i can only pay the minimum on because of high interest rates, i’ve heard alot about the company, “care one” that helps people, does anyone out there deal with them?

  • Daniela says:

    I have two credit cards that have about $8,000 in debt between them. I am serious about paying them both off, and pretty much will go as far as starving to get it done. It would just be so much cheaper and easier if this was one bill instead of two. I have played the balance transfer game, but at this point it seems like adding another bill would be more problematic than consolidating. I just don’t know how to do it or who to trust.

    Is there any downside to consolidation?

  • Michel says:

    Credit Card debt is at an all time high, I have taken over our family finances from my wife and need to come up with a new plan to attack this debt. I have called the CC’s and they are offering little relief except for a 5 year pay off program that locks in a lower interest rate but the minimum payments do not go down. Would it be better to take the credit hit and stop paying the CC’s and start a MMA with that money?

  • Polly says:

    I have a debt of $5,000 from a credit card. I was going to sign up for a debt relief program that the bank referred me to, but my friend said that it was a scam and you will end up paying more with them. Who do i go to that is really going to help me pay off my debt and has my best interest. I am so lost.

  • Titus says:

    I’m considering settling on a $24,000 credit card debt at about 50%. Is this a good idea or is it going to effect my credit in such a negative way that I should not consider it?

  • Susanne says:

    We started a program with “Consumer Credit Counselors” This progarm has us pay the Consumer Credit Counselors, then they pay the credit cards every month. All they do is lower some of the interest rates. They don’t negotiate amount owed. The payments are too high for us, so we looked into other alternatives. We found one company that will do it differently for less. They have you pay into an escrow account, and they pay off each credit card individually. They say they negotiate lower balances and interest rates. The payment would be lower and the payoff time cut in half. Does anyone know of any reason we shouldn’t do this? Are there any other better ways? WHAT IS THE BEST WAY TO GET CONSUMER DEBT RELIEF with no loans?

  • Maryalice says:

    I am under pressure with credit card debt. What is the mode to relieve from it?

  • Jarrod says:

    As I am unable to do the monthly payment for my credit card debt, I am getting harassed by the creditor, what can be done to get relief from the debt collector’s calls and end the harassment?

  • Meta says:

    After debt relief order has ended you cant get another credit card or anything for 6/7 years, but am wondering if it has been 10 years since no payment has been made shouldn’t the debt be wiped off the credit file? is the credit rating still going to be bad after 6/7 years? if indeed someone takes out a debt relief order does 6/7 years start all over again? or can they include the years already gone by? (UK)

  • Roselyn says:

    Which is better for credit card debt relief: American Financial Service ( or Federal Debr Relief System ( ? Has anyone had any experience with any of them? Or is there a better one? Thanks.

  • Jacinto says:

    have over 10,000 dollars worth of credit card debt. should I consider consolidating?

    I can afford the payments no problem, but in the long run, the interest may be more than what I could have paid if I was in a debt consolidation program. Does that make sense to you? Thank you for your time.

  • Delora says:

    I am married and have two kids. We both work. I work an extra job just to make ends meet. We make good money. But we have so much credit card debt that I do not know what to do. We have a house but it does not have much equity in it due to we just built it several years ago.

  • Joe says:

    A woman on a “credit card relief” commercial on the radio said “I contemplated bankruptcy and divorce …”

    What does divorce have to do with credit card debt?

  • Tomas says:

    I owe on three credit cards. All of them under 2,000 dollars but i cannot make any payments and there all going into 3rd party collections! Help!!!

  • Clifton says:

    I have 2 defaulted student loans with Chase. I have other federal loans still in deferment, I have lots of charged of credit card debt worth about 30,000, I have an old cell phone bill, and I have a few medical fees. Help…

  • Grady says:

    I need some help on credit card bills. i need to know if anyone knows a good and reliable debt relief company that could help me throught this.I live in Murray utah.

  • Mi says:

    By only our fault we are credit card poor. I would like to know if there are any reputable credit card debit reliefs that are legit. I see on ads about help to help ease credit card debt but I am skeptical about it. I want one that is legit and does not mess my life up after that.

  • Nettie says:

    Im 19 and im in $1,600 in credit card debt . My parents say that thats nothing compared to most peoples debt but I still feel thats alot for being 19 years old.

  • Jarred says:

    Also, anyone know of a reputable (tried and true) debt relief assistance or debt counseling company?

  • Andrew says:

    We have appox. $16,000 in credit card debt. We are 2 months behind on all 4 accounts. Once we bring them current (in the next 3 months) we plan to start knocking them down from highest interest rate to the lowest. We entered relief programs on 2 of them which caused us to have to close those accounts while the balance is still there. I know that’s bad for our credit score, but was the only way we could afford to get back on top.

    My question is – While we are paying off these cards, will our score improve? (We are at about 550 right now) Is there anything else we can do while paying these off that will help our score? I have heard about having a card that you use for gas or something that you can pay off in full every month. Is that something we should do to start proving that we can do this now?

  • Patrick says:

    I am looking online to see if I can find a place that can consolidate my debt. All I am finding are places for credit card debt. Are there any places that just do general debt consolidation? I have only have two credit cards and the majority of my debt is medical bills, but it doesn’t seem like they take care of the medical bills according to all these websites. Any help is appreciated!!

  • Aubrey says:

    I’ve already asked a similar question, but trying to get more clarification.

    My MIL has a home worth $350k, but she owes $400k. She has two mortgages on it. The first is worth about $230k and the second is $170k. The holder of the second is willing to settle for $17k. My MIL also has about $40k in credit card debt, plus is behind on her property taxes.

    When she took out the second in 2005, she used some of the money to fix the roof, get a new garage door, and put in laminate flooring in the living room and hallway. The rest of the money was used on two new cars and a bunch of random stuff (computers, nice camera, blender, soda maker, etc…really random frivolous stuff mostly).

    My husband is trying to help her get her money stuff sorted out, including getting money to settle the second. If she does this, is there any way she could claim insolvency? How does insolvency work? Or is it pretty certain she’d owe taxes on the forgiven amount?

    OR….is it possible that she would only owe on her actual “net” amount…$153k forgiven amount minus $50k from being underwater plus $40k in credit card debt = assets of $63k. Does that even make sense?

    Best answer goes to whoever explains best and clearest! Thanks!!

  • Louisa says:

    Currently i’m paying an average of £43 per month in interest on my main credit card, on a £3.500 debt. I’m looking to transfer this debt onto a 0% balance transfer card.

  • Nick says:

    I have quite a bit of credit card debt, but I do not know which companies can be trusted. The credit card companies will not work with you these days if you are current. But it is a real strain when income is limited.

  • Dianne says:

    Ex-husband has my name as secondary user of his own credit card and never agrees to take off my name even if I asked to do so after our separation. I never have the card nor charged any on his card. Eventually he could not keep up with payment and my name is till on the account. The judge at the court for divorce already stated he should take off my name a.s.a.p. without hurting my history (though already affecting my credit history). But instead of signing (both of us ) the credit card company’s paperwork to remove my name , He insists I sign to use freedom debt relief program together telling me this way to remove my name. Can anyone explain to him that is not right thing to do ? or he can still close the credit card account removing my name and try to make use of FREEDOM DEBT RELIEF’s program on his own?

  • Jarred says:

    My income has been cut I’m not behind yet but I’m anticipating being that way in a few months. Anyone ever heard of The Palmer Firm, they are claiming to cut my credit card debt from $11061 to $7000 in 28 months with monthly payments of $257. I called credit solutions but they dont deal with the state of Georgia. Any help will be appreciated.

  • Nolan says:

    I am wondering what peoples experiences are. I have about $25,000 in credit card debt and around $30,000 in student loans. The credit cards are surprisingly well under my limit. I would be interested in consolidating the credit card debt especially, as it seems those are going to last forever. Any advice?

  • Avelina says:

    About them helping you with credit card debt. Loaning you money to help you.

  • Danilo says:

    I would like to know if anyone has used Precision or another settlement company and how it went. Please if you’ve used one, answer. As a person who has gotten into too much credit card debt paying for school and moves, etc. I need to do something so that I can be able to pay my bills. I’ve exhausted many options. If this doesn’t work, I feel I may have to declare bankruptcy.

    Please do not respond if you have nothing helpful to say.

  • Era says:

    Please give answers that are EASY to read and not the ones that I can search online w/ tons of legal jargon. I am trying to really understand this..

    questions I have are:
    what’s the difference?
    which one can you keep your cars in?
    which one would one need to eliminate credit card debt only?

  • Jacinda says:

    My friend has a credit card that she is behind on paying because the company wouldn’t work with her when she lost her job. She is going through a Debt Relief service to make monthly payments on her card. The credit card company is now suing her. If she is making payments through the debt relief service, can they still legally sue her, and what can she do to get the lawsuit dropped?

    This is in Wisconsin, USA.

  • Diana says:

    I have about $4,000 in credit card debt. Does anyone have any good advice on getting rid of it fast? Or getting it consolidated to a low monthly payment?

  • Jeannine says:

    I owe a substanstial amount on credit cards 30K which I can no longer make payment. There is this debt settlement company that says they will settle my account for %45 there fees included? It will be in a 3 year payment plan. Is this all some sort of a scam? Has anyone had experience with these types of companies?

  • Micah says:

    Does dealing with them destroy your credit for a long time or temporarily ?
    Are there any good companies out there ?

  • Bess says:

    I have credit card debt that I am trying to get rid of. i want to consolidate it. Is there a government debt relief program or what is a good third party program?

  • Dwana says:

    My friends husband died leaving her three kids and over $100,000.00 in credit card debt. She has been trying to pay but now is getting threatened with them taking her house. She make just a little over minimum wage on a part time basis and the depression is starting to drag her down.

  • Renato says:

    I am being sued in small claims court for $6500 for credit card debt. My State limit for small claims is $5000 can they get $6500? Is it $5000 plus fees? It was filed in superior court, after looking on the web page they hear matters involving $5,000 or less. So I am assuming that is all they can get. But, the summons says they are seeking $6,500. Will the $6500 be cut to $5000 at the time of the judgment? The state is Vermont

  • Teri says:

    I know I will have bad credit for 5-7 years, but what other penalties or issues can I face? My house value has gone so far down that I’d rather just save the mortgage and property tax money and just pay off my credit card debt and what not and start fresh.

  • Luna says:

    I am planning to sign up for Care One debt relief services to help me consolidate my CC debt. Do you think this will actually work? will this affect my credit rating? Does anyone have an opinion about this company and their services. I was reading their blog and for the most part it sounds like it really works but I’m trying to search for more answers.
    Thank you in advance for any suggestions or feedback.

  • Rufus says:

    I am looking for a debt consolidation or debt relief company that is reputable and will do the job. I need to consolidate medical bills, pay day loans and credit card bills.

  • Rosy says:

    There are many different agencies that claim to help with credit card debt–attorneys, debt relief agencies, etc. Who is really the most qualified and honest? Any advice would be great! Thanks!

  • Nu says:

    I’m in over my head with credit card debt, can I get some advice as in what I should do?

  • Clayton says:

    I owe nearly 18,000 in credit card debt and would like to know if anyone can tell me how to get the card companies to lower the balances. Prease no smart aleks !

  • Curtis says:

    I have a collections agency that placed a judgement on me with the local sheriff’s office to collect a credit card debt. What ype of attorney should I see on somethnig like this?

    I jsut want to find out if an attorney can possibly get these people to work with me and let me start making payments to them. Because if I have to make the payments to the Sheriff’s office it’s gonna cost me $300+

    Thanks for the feedback

  • Shannon says:

    I saw similar existing questions, but they are over 5 years old, so not as relevant.

    I have a large amount of unsecured credit card debt, approx. $16000.00, and can barely make the minimum payments. If I continue this course, it will take about 20 years and will have payed about $44,000. I do not have the means to make anymore than the minimum. I was looking into a company called “National Debt Relief”. Does anyone know anything about this company? Are there other companies that do this. I have tried contacting my creditors directly, but didn’t get any assistance.

  • Celsa says:

    I am a single parent and have close to $ 15,000 in credit card debt. I tried calling credit card company to make an offer in lower amount. Do you think if credit card company settle with in lower amount of payment would it affect my credit history. What is the best way to go

  • Lucinda says:

    They are an agency that helps consolidate credit card debt. I need to know if they are honest and reliable.

  • Ashanti says:

    I am looking for somewhere that will give me a personal loan to get rid of my credit cards. I’ve already been to several banks and I’m not trying to do anything that’s going to ruin my credit like the debt relief places I’ve seen. I have good credit and always pay on time but can’t seem to get a loan because I own too much money.

  • Louis says:

    I received a letter from this place claiming they can settle my unsecured debt for 1/2 of what I owe. I did some searching & can’t find anything about them. Not sure if that is actually the name of the company, but that is all the letter says. There is no address & the ph # is 1-866-403-7945. My gut tells me it’s a scam, but I was hoping someone may know for sure.

  • Hilde says:

    I have debt, I’m ashamed to admit it. I’m in way over my head and most of it is credit cards. I don’t know how to get myself out of it. I need help form another source. I wanted to work with a debt consolidation company but I’m wary that I’ll get ripped off. I asked the bank to help with a loan but I have too much unsecured debt so they won’t approve me. I own a house but I can’t take out a home equity because I had to use that to buy my ex husband out of the house. I just want to pay off my debt but it’s getting harder with the credit card intrest rates I don’t know what to do.
    The credit card companies do not want to do anything to help you out. I just talked to one of mine (HSBC) who is charging me 31% interest and basically they were like, F*** you sorry. It was like trying to push a brick wall. I told them that I really needed help I even talked to a supervisor. I said can’t afford my payments with that kind of interest rate and I’d have to file for bankruptcy and they said well if that’s what you have to do. I said wouldn’t you rather work with me and get paid or me filing for bankruptcy and you not getting any money and they were like oh well. It doesn’t make sense. Credit card companies will not work with you I have tried with Chase, Citi and now HSBC they simply don’t care. Also I have good credit I’ve made a few late payments because I’m struggling financially right now but my credit is good–I was just told that by my bank a week and a half ago. Good credit gets me 31% interest at HSBC and 24% interest at Chase. What’s up with that?

  • Denise says:

    Im a young man who just recently has found a carrer in union carpentry. I during my “learning” years amassed roughly 10000 dollars in unsecured debt. The problem that is while my earning potential is great, im still a apprentice making roughlym 30-35k this coming year. I am behind on all 8 of the unsecured accounts and have sought cuncil through Superior debt services. My agent has put together a 12 month package for that will have me paying 5000 to settle those eight debts. The iodea is to not pay or contact these creditors again and they will settle for less. From what I have researched so far, it sounds legit. I would like any info/ personal experience user may have had, any help/ advice would be greatly apprcieated!!

  • Tena says:

    I owe Bank of America $28k on an unsecured line of credit. I borrowed $30k on the line of credit a year ago at 5% to remodel a foreclosure I bought. The market turned 4 weeks after I bought the home last Sept 08. I finally sold the home for a huge loss. During the process, I was never late on a payment and I still have never been late. BofA jacked the interest to 12% and place credit insurance on the balance without my permission. I had them remove it and they still made me pay them $300 for the one month they had it on. Dirt bags!

    I took less than I owed on the house just to get rid of it. I now have in my possession a check from the sale of $20k. I want BofA to settle for less than this check.

    How do I do it – Will they do it? Who should I call? I have $20k toward a $28k debt and I am not late. I am calling them in 24hrs to start negotiating. What do I do?
    Additional Information: This line of credit was never secured with real property. It was always unsecured, hence, BofA does not know how much my check is for. Look, I am not trying to be dishonest or rip anyone off. I want to give them every penny I owe them but unless I aproach them on my terms, they will continue to take advantage of me. All I want is a level playing field.

  • Azalee says:

    I have almost 8000 dollars of debt including all store and regular credit cards as well as past due bills. I lost my job a few months back and got a new one but make considerably less money what can I due now that the minimums are ridiculously high and the interest rates as well and the collections calls. I cant seem to catch up and I don’t make enough to pay that and the cost of living at the same time? Should I just file bankruptcy. I don’t have many assets other than my car and I bought that cash straight forward from a private owner. If bankruptcy would I be able to keep essentials like a car and cell phone since I own them without any debt accumulated from them? Someone please give me so detailed advice for real..not just those go see a lawyer or talk to a professional. I’m kinda looking for more than that…also I know I am in debt and should manage money better no smart comments please if you can’t answer to help please don’t answer at all. Thanks for helping everyone.

  • Teresita says:

    I made a mistake, and trying to get out off it. I have a good APR on my AMEX (7%), but my other 2 is killing me 23% and 29% pretty high balances too. am paying almost $1,000 every month on the 3 cards alone, I can barely save. PLS ADVICE

  • Karin says:

    right now i have bad credit. banks and loan agencies keep rejecting me. im not a homeowner nor a businessowner. bankruptcy is last resort. 13,000 is not that big to file for bankruptcy. i need help fast. cant sleep at night.

  • Hunter says:

    Which is better in your opinion: debt elimination methods or debt settlement?

  • Cruz says:

    I presently have an unsecured debt of $25,000-30,000 to several credit card companies. My present situation does not allow me to put a dent into the debt balance. I believe filing for bankruptcy may be my only solution. I am called daily by the institutions I owe money to. I ignore them because at present there is no money to make any type of effort at re-payment. Other bills take priority over these unsecured loans. These include:child support, rent, utilities, and very basic living expenses. My question concerns what recourse these credit card companies have with regards to my business property. I am a sole proprietor. My truck and equipment is essential for me to make a living. So far I have received only idle threats from credit collection lawyers, but no legal summons from the court system. I have put off filing for bankruptcy with hopes of a better solution. What will be the consequences if I continue to ignore these credit institutions?

  • Denver says:

    Ok I fell onto some rough times and racked up 16k in unsecured credit card debt (19-21% interest) Now my financial situation has improved but I feel like there is so much debt interest I can’t get out. I checked my credit, between fair & poor, around 630. I now make 42k year and own my car outright, rent about 530 month. I have about 4k I could take out as a loan (interest to myself) from a 401k. I’m basically at 100% of my available credit which I believe is the main problem with my score as I’ve been making timely payments for the most part. Was thinking I could use the 4k to pay off some debt & raise my credit score enough to get a decent loan? Anyone know any companies I should apply for and what credit I need? Should I go to debt settlement companies? Appreciate any ideas, thanks.

  • Ashlie says:

    I here adds all the time that you can settle credit card debt Yea it hits you credit score but how risking is this It says in every card card agreement that it you miss even one payment you get charge a late fee like $15 to $50 and you APY goes to storming very high like 39.99% which make it take even longer to pay off and and increased payments.

    Can and do credit card company’s sue garnish wadges bank accounts?
    Take they you house or car even thought it is unsecured.??
    Yes I know they can run You cread report. and Call you to no end.

  • Mark says:

    My attorney wants to litigate and challenge, I want to file bankruptcy. I am only 1 year away from SOL. I am looking for best option to repair credit in near future!

    Any advice?

  • Darnell says:

    I don’t know if debt relief would be good for my husband and I or not, we have never been late or missed a payment and we usually DO pay more that the minimum but we have over $20,000 on credit cards and I feel overwhelmed. I feel like we will never have this debt paid off. Also our cards are zero interest so I don’t know if we really have any options. We have really good credit so I would hate to do anything to screw that up. Any thoughts would help!

  • Christen says:

    My business is still in the growth stage but we have racked up debt close to $50000 that is sitting on my personal credit cards. Should I transfer that debt to a large credit line under my company name? Will that alleviate the stress on my personal credit debt? or will that not matter because it is still my corporation? Any assistance with this matter is appreciated. I only hope to clear these debts sooner than later..Thanks

  • Khadijah says:

    I recently got into debt consalidation to clear some credit cards that i had and couldn’t deal with and i wanted to ask how long does it take them to pay off the credit cards so i can begin paying them.

  • Isaias says:

    I have debt that is about 4 yrs old that I would like to settle or pay off. Some are/were with collection agencies (not sure now where they are because of the age of the debt). The debts are unsecured (electric, cable, etc.) and some are secured. I also had a foreclosure of the same age. While I know that the foreclosure will still hurt my credit score until 7 yrs, I would like to start the process of healing my credit score so that when the 7 yrs for the foreclosure to drop off is up, my credit will be in a better position. My credit score currently is around 574.

    I have heard that settling for less is good and paying the full amount is good. I would like to know what is going to help more in the long run. I also heard that getting a secured credit card can help. Is this true? What would my best route be in correcting the wrongs?
    Also, where should this process start? Should I ask the collections to validate the debt first or should I deal directly with the main company first?
    The electric bills and such, even the total debt (minus the foreclosure) does not amount to much. The total amount is under $2000.00.
    My foreclosure was over 3 years ago.
    I am not sure about the 1099C. I assume that I did receive it but I am not sure if I did anything with it on my taxes (ex boyfriend did my taxes for me then). I am not sure how the foreclosure relates to paying off old electric bills though. I do understand that it will still be on my credit but other than that, I was trying to pay the other old debt off….
    Does paying off the old debt lead to more problems with the foreclosure?

  • Ruthie says:

    I’ve been reading a lot about this because I’ve been trying to figure out how to go about settling my debt for much less with all my credit card companies and then just paying them off in full with the amount that’s left after the settlement (they are all in collections and have been for months). What I didn’t know until I started researching this, was that in some cases you do have to report this as income on your tax return. I definitely DON’T want to have to do that. So, two questions. One, what are the guidelines for being eligible to NOT have to report it? And how could I be 100% sure that I won’t have to fill out a 1099? Who would I talk to professionally about this before I decide to pay the debts off, and would I have to pay for their services? I need to do something about these cards soon, whether it’s pay them off or make a payment. Second, if for some reason I would have to report it on my tax return because I wasn’t eligible for not having to report it, is there anyway I could pay it off in full without negotiating a settlement, but still have them lower it? What I mean is, have them possibly take off all the fees that have accrued over the past several months, but not necessarily cut it down to 30-40%, so that it won’t be a settlement that will have to be reported.. so that the lump sum I pay them will be less than if I had to pay what the bills say are due right now. Also, any tips for negotiating with these people? I’ve never done this, only heard and read of several people who have. What do you say, how do you negotiate, how do you tell them you can “only pay X amount”, etc. etc. and if I did settle in the end, how would I go about obtaining that statement that I needed to say from them that it was actually settled and paid in full? Do I make sure I get that before I pay or after?
    Okay, also, so regardless of whether they settle it for less than $600 or more than $600, I still have to report it as ‘other income’ on my return? And if the amount I settle for is LESS than $600, I just don’t have to pay any taxes on that?

  • Josef says:

    We currently have a card that has 17400 on it and other that has 1400. The payments are around $375, and we are only making the minimum payment, which is never going to get it paid off. We currently can only afford the minimum payment and then it puts a strain on the rest of the month. Is there anyway to settle this with out have to be late. We have seen commercials that say you can settle for half but that sounds like a scam. We are in our mid 20’s and trying to be responsible with our debt but losing a job and having to move 500 miles away for another one really put us in a pinch. Could we settle this large debt or should we be thinking about filing bankruptcy?

  • Loreta says:

    like credit cards and unsecured lines of credit

  • Devorah says:

    Are there any tips to help keep me from overspending?

  • Dee says:

    my husband and I need to de a debt settlement and I’m scared that if i get a job it will mess everything up. will it factor in and make the creditors think that now we can pay them more or in full and not want to settle? and if it does affect it do you know if after we settle with them then i wait a little while and get a job can they then change their agreement with us and make us pay them more? please help!! also i need legitimate debt settlement companies who pay the creditors on time every month. anyone got any from personal experiences?

  • Shalon says:

    I am planning a move to the Dominican Republic from the US. I have unsecured debt (school loans and credit cards) which I want to repay, but the average income in the Dominican Republic is much lower and I know I would not be able to make minimum payments. Can the debt be converted or possibly bought out by a bank there or something like that?

  • Rey says:

    I am 45 years old and was recently diagnosed with stage IV metastatic cancer (no cure) and I have about $30k in unsecured debt that I need to pay off. I’m currently on disability and living on a partial of my salary and no longer have the cash flow to service this debt. My prognosis is not good and obviously won’t live until retirement. I have about $200k saved in my 401k. Therefore, is taking a 401k withdrawal my best option at this point even with the tax and penalty aspect?

  • Alden says:

    I will try to negotiate settlements myself.

    * two accounts $2,800 each.
    * two accounts for $5,600 each.

    Sample debt settlement letter:
    Unsecured credit card debt.

  • Rafael says:

    Basically, I had a policeman bring a court ordered summoning to me about debt regarding credit card companies. I owe a little over $2,000, I’m curious whether or not if I’ll have to pay the debt, or show up and court and settle it some way…and will I be charged court costs?

  • Jefferson says:

    I have suffered a large pay cut at work and don’t wanna have to file for bankruptcy, I have been looking at debt relief programs that are on the Better Business Bureau’s website and found a couple that I like that could help me…I have heard from a couple people that they are all scams and they will just take my money each month and not help me with my debts…is there any truth to this? I want to get right with my bills and credit and be responsible but without the money I was receiving from my pay I feel like bankruptcy or debt consolidation or relief are my only options. Thanks in advance for all of your responses.

  • Tana says:

    I was thinking of signing up with a debt settlement company but I have heard the debt settlement companies not what they seem. They promise to settle your credit card and unsecured debt for half or less than what you owe. I have heard what they don’t tell you is that you usually get sued, get your wages garnished, and that the debt settlement companies over report what they actually save you while charging you a huge fee. In addition, I have heard that your savings are reported to the IRS as income and that your credit report is trashed. Supposedly their seemingly caring sales people are paid high commissions. Apparently you can negotiate with your creditors and be just as successful while saving the thousands of dollars these companies charge you. What I want to know is if all that is really true about these companies and can I actually negotiate with my creditors myself and save thousands in fees. I need the scoop from someone that is honest and knows the truth about these companies

  • Fletcher says:

    Iam 26 and just engaged! my mother ruined my credit as she used it to secure a mortgage and loans. i didnt help it eietehr, as i was young and irresponsiable. If i wana have the chance of having credit cards or a home for my family ion the near future, what do i do??! is bankruptcy going to hinder my chances of future cc or loans? is it a good idea to file? please help me gain my life back.

  • Robert says:

    we are in the process of a loan mod w/our mortgage company and i recently found out that my husband has a judjement on his credit report from an unsecured credit card he had in 2006. my mortgage company has to do a title search and i was wondering if this would show on the title search or is it just liens placed against the property. i was told that being it was an unsecured debt it cant be held against my property just his credit report. thanks for all your advice.
    the credit card company didn’t place a lien against us, they are reporting a judjement on his credit report so i am wondering do judjements on credit reports from credit card companies show on a title search. thanks again for your help

  • Tyesha says:

    I am considering this, and the company is recomended by BBB as being legitimate, they get the unsecured credit card companies to reduce your balances, by paying them a fee, and set up a smaller payment plan that is paid off in 3-5 years, instead of 10-25 years. The actual benefit is they are able to get them to eliminate a lot of the debt, instead of just renegotiating terms, APRS. etc. They work for you, not the c/c companies, who now are able to raise APRS and minimum payments at their discretion. They work for you to obtain a workable settlement for each c/c company. I do realize that it would impact my credit rating , but not as bad as a bankrupcty would , which I don’t want to do anyway.If anyone has any feedback, let me know.

  • Ruthe says:

    I have heard that some agencies take your money and don’t end up using it to pay off your debts. How can a person find one that will really help and how do they usually work?

  • Joyce says:

    Am I the only one that thinks that when they made that law like 6-8 years ago that people can no longer claim credit card debt, It probably started this crisis. If they could still claim it, they would have a chance to start over and maybe even keep there homes. Why is no-one talking about this?
    I see now thanks. Makes sense. My mother in law ( a big spender) mentioned to me that she was lucky to claim bankrupcy before they stopped credit debt from bieng claimed. ( she didn’t know) But thats why I asked becuase if she had that debt we would have lost our house too lol. About the houseing market. My mom recently sold her home in silicon valley Ca for 400k she paid like 30k in the 50s. I just can’t imagine how the family that bought her house reasoned it. So what your saying makes total sense.

  • Tammie says:

    I’ve heard that it is possible to get out of debt in less than 36 months.Is this possible?

  • Elliott says:

    In about 30k of debt. Declined for a personal unsecured loan. Credit is Fair (only due to credit to debt ratio). All bills paid on time otherwise. Bankruptcy is not an option and I am not calling to settle or close any accounts because I want to maintain a decent credit rating going forward once this balance is paid off.

  • Ross says:

    Recently I lost 2 homes that I bought a few years ago. I got a 1099 from my lenders and don’t know what to do. I also have high amt of unsecured debt that went into collection….they used to contact me 20 times a day, for some reason i only receive 3 calls a day.
    im afraid they’ll file something on me that only bankruptcy can save me. or my wage will be garnished..? (though i don’t work for someone right now). Surrendered our 2 cars, now only 1 left.

  • Columbus says:

    I have a plan to pay off a large amount of money using a loan from the bank
    I looked into settling my debt individually first so as not to have to take a huge loan out
    How do I talk to companies to settle debts
    What questions should i ask ?
    And what should I offer

  • Retta says:

    How was the experience? Any pros and cons you would like to share?

  • Hui says:

    I am in the process of settling a debt with a creditor that purchased the debt from my original credit card company and no, the debt is not older than 7 years so it is still within the statute of limitations. I went with a debt settlement company but I am having some reservations about their protocol, although they did negotiate with the debt collector representing the creditor for a settlement of about 35% of the debt.
    I recently received a settlement letter from the debt collector and it DOES state the agreed upon amount and the words “SETTLEMENT IN FULL”. But it also says “Upon receipt of the amount, we will notify our client to make any appropriate adjustments to the account”. “…any appropriate adjustments”?… this sounds a little vague. Am I being paranoid? And then it has a deadline to accept the offer (I have about 4 days left!).
    Plus, the letter is not signed by anyone but just ends with “Sincerely,” and the names of several people of the firm collecting the debt. I was also told by my settlement company that I don’t need to sign anything, that I just have to send a check to the debt collector. Is this true? No signatures required for a legally binding agreement?!?
    Oh and I also asked my debt settlement company if I could pay with a cashier’s check or money order and they said only if the debt collector says it’s okay. If not than they would just do a direct transfer from my bank account, which I assume would require a bank routing number and whatnot, which I have heard I should avoid.
    When I ask about some of these issues, believe it or not, my settlement representative gets belligerent with me saying “this is just how it’s done”, “direct transfers are no problem”, “I know better than you”, “I have other cases to deal with”. They basically want to just get my case over with even to the point of being threatening, saying “do you want the offer or not?”.
    Can somebody please help? Especially with the direct transfer part and the fact that supposedly there are no signatures required.
    The debt is less than 2 years old and we agreed on a lump sum payment.
    It’s just that if they refuse to take anything other than a direct transfer and my settlement company is not going to help me with that what recourse do I have? Even if they do a direct transfer can they really take out more than the amount we agreed upon? Isn’t that illegal? What is the worse they can really do in the case they get a direct transfer?
    And can you please answer the question about the signatures on the settlement letter? Are they absolutely necessary, (both the debt collectors’ and mine)?

  • Era says:

    would they take 33%? thanks

  • Harley says:

    I heard the governement has added Credit Card Debt Relief to the Stimulus Package. But everytime I try and look it up, my search engine is cluttered with ads from organizations who want to “manage” and file for me for a fee. Where can I find information just for ME, the consumer, not from a third party? Someone please help me. Thanks in advance!

  • Imelda says:

    I have over 20,000$ in credit card debt and I had it since 2003. I have never made any payments on them since 2003. The creditors increased my interest to 25-30% after I stopped paying and started debt collecting activites by sending me letters and making phone calls for few years. I did not pay any money even after that. Then they cancelled the cards and send them to collection agencies.
    The agencies and attornies sent me letters, called me almost every day for few more years. Then they stopped for the last 3-4 years. I hardly get any letters from them and I never bothered to pay the debt even to this day.

    I have used my debit card or cash for all the purchases for the last seven years.

    I know I have screwed up big time. I am 31 years old now and I can not get a loan on a new car and forget about getting a loan for the house. Now, I am fed up and thinking about re-paying the debt. My question is, what is the best way to do it? counselling/settellment or any other way?

    I have heard somewhere that most of the debt would be forgotten after 7 years. Is that true? Its been seven years now and I do not know what my credit report says now. I will have to get one to see what it actually says. I have never filed for bankruptcy.I guess my question is “Will my credit report show the debt cleared as charge off or bad account and be eliminated from the report” as it is past 7 years now?

    Can you guys tell me what is the best option for me start building/repairing my credit? I tried buy a car and they laughed at my credit score and report and said they will give me the car for 24% interest rate.

    I know I have screwed up, but is there a way for me to get a car with lower interset rate, while I finally start to do something about my credit situation? Please provide practical answers as I am alreay in lot of stress but I, finally want to get back on track with my life.

    Thank you in advance.

  • Violet says:

    My wife and I consolidated our credit card debt. Between the both of us we had about 8,000, but I think we made a mistake with the kind of load we got. We had to put up one of our cars for collateral. The interest is kind of high and by the time we pay it off we would have payed back 15000 instead of the 8000. Is there a better loan out there we can get? Like a home equity loan or something? Any advice would help.

  • Taneka says:

    How successful is debt settlement?

  • Norris says:

    Has anyone dealt with a law office to collect an outstanding debt you have? I am asking because we experienced GREAT FINANCIAL DEVASTION last year to the point of going to food banks, charity agencies, borrowing money to survive, etc. We could not pay anything but necessities. At tax time I paid 5 of the 7 credit cards (paid the past payments to get current) and I am still making monthly payments to them. Well one of them was for $7300.00. I am making a $50.00/mth payment at this time and wrote the letter to the law office. They are deducting the amount I am paying but still send a letter saying to pay the balance in full and the creditor will take action. I am worried they will try to take my home which I fought so hard to keep. What are your suggestions?

  • Louis says:

    If you get behind on credit card payments what can the credit card companies do to you? I know if you don’t pay for a house you are forclosed, or a car gets reposessed. What do credit card companies do.
    I lost my job several months ago and now the credit card companies are calling all the time. As soon as I get back on my feet I will start making regular payments again.

  • Lane says:

    I have around $10,000 in debt, mostly credit card debt. I do not know what route to take to bail ME out. Should I file bankruptcy, get a loan, or go with one of these credit card debt relief agencies? Also, I go to and I know that there are some things that are not showing up on there that are affecting my credit score.

  • Felipa says:

    Does any one have any good tips about credit card consolidation or how to go about negotiating lower interest rates? I need help desperately and don’t know how to start!

  • Rocio says:

    My friend has about $3000 on her creditcard balance. She’s been trying to pay it off for years, with the rate 26.99%. I was wondering if I could help her, do a “balance transfer”, transfer HER balance into MY account, thus having a lower rate. So she could pay it off with less pressure. (Of course I trust her and commit to help her.)

    1. Is this doable?
    2. Is it going to hurt my credit score somehow?

  • Dominique says:

    Divorced, disabled and left with serious credit card debt…help My social security income will never pay these debts and my credit is very important to me

  • Carroll says:

    ok, i turned out to be the 18 year old statistic getting a few credit cards and not having the correct judgement or knowledge to use them. in total of about 3-4 cards, i have just over 10,000 in debt.

    im 21 now and know better, but not how resolve my situation. there are soooooooooo many debt relief commercials and such and i dont know if they do any good, or which ones to choose. its quite overwhelming.

    and to top it all off. i recently recieved a summons for one of the credit cards, they even sent one to my employer. i feel like im going to drown.

    id love to consolidate my debt and set up a plan. but to be honest im not even sure where all my debt is. how can i find out all the pple i owe? some have stopped sending mail thinking i was a loss. some help please. im desperate. im to the point i just might file bankruptcy.

    oh do i ahve to go to court? can i just settle outside? or what? im nervous

  • Ayako says:

    We started a program with “Consumer Credit Counselors” This progarm has us pay the Consumer Credit Counselors, then they pay the credit cards every month. All they do is lower some of the interest rates. They don’t negotiate amount owed. The payments are too high for us, so we looked into other alternatives. We found one company that will do it differently for less. They have you pay into an escrow account, and they pay off each credit card individually. They say they negotiate lower balances and interest rates. The payment would be lower and the payoff time cut in half. Does anyone know of any reason we shouldn’t do this? Are there any other better ways? WHAT IS THE BEST WAY TO GET CONSUMER DEBT RELIEF with no loans?

  • Bobbie says:

    Currently I have alot of debt. Most of it is at zero percent interest. However, I have a credit card currently at 0 but will go to 25% in about 4 months. I thought I could have it paid off by then but a few things came up and now i’m not sure. My question is will it hurt my credit score if I do a balance transfer to another card that will offer me 0 % for the first year. I know I can have it paid off in a year, probably 6 months. I have broke the habit of using the credit cards or accuring any debt for that matter. My goal is to be debt free in 9 months. Is this idea overal good(for me and my credit score?). Any feedback would be great. Thanks in advance

  • Stewart says:

    I’ve heard the ads on the radio and seen a few on the internet. What, or who, should I believe?

  • Norris says:

    ok so im only 20 years old. my bf and i spent 7,312.00 BUT we are no longer together…so he stopped helping pay on a credit card that i had in my name? but now the credit card is like 12,000.00!! a collection burrow has contacted me and we will go to court they said the WILL take 26% of my paycheck? they told me i’ve disappointed alot of people???? they don’t know me though? haha so should i go with the debt or bankrupsy lawyer or just a reg. lawyer and how much will that cost me?

  • Lane says:

    I know to stop charging but also I would like for my interest rate to go down as well when I contacted the Credit card company they told me I had to wait 6mos. Why? I have had this card for 10yrs. Have always paid on time I am trying to understand why the APR went up I started at 12.5 %
    now 29% any help in this matter would help me to understand better. Thanks

  • Madeleine says:

    I am in way over my head. I have a good salary 100K a year, but got divorced last year, had to pay a bunch of money and I have custody of my kids thankfully. I have around 90K in credit card debt. Plus my two house payments and a car. Is any relief available. I have a legal plan at work so I am thinking about going to an attorney. I have paid the minimum each month but I am not getting my head above water and dont know what to do. I do not want to lose my home, I have plenty of money to pay for the house, the credit cards are just overwhelming and I cant even save money for emergencies…Help

  • Antonio says:

    I have gotten myself into almost $20k in various credit card debt. I also have auto loan and student loans. I’ve never been late on any kind of payment, but my score has dropped from 720 3 years ago to 640, presumably because of DTI… Ive pretty much maxed out both my cards, and Starting this month, I am no longer able to afford my credit card payments. I need to know what is the best thing to do in this situation…

    I have investigated services that will put me on a debt management plan an consolidate my cards into one somewhat affordable payment.

    I’ve also heard that i can contact creditors myself to try and negotiate a settlement, but ive heard that has tax implications and that it is most effective when the account is already seriously delinquent…

    I don’t know much about bankruptcy but I’m pretty sure I don’t want to do it…

    How will each of these options affect my total debt, monthl payment, and/or credit score? Trying to figure out the best way to go here… Thanks.

  • Mark says:

    currently I have about Rs.35000 Credit Card Debt. My monthly salary is Rs.15000/- and monthly expenses around Rs.10000/-. I want to pay the credit card debt at the earliest. Any tips?

  • Willard says:

    Credit Card debt is about to kill me. I lost my job and was unemployed for a 9-month period. During that time I racked up some serious debt. I enrolled in Freedom Debt Relief, and at the time was current with my cc payments. They told me I had to stop making payments so that they could negotiate with each creditor. After enrolling, they were able to settle one debt, but the other two are bringing the hammer down on me. I current have a very low paying job, and am making monthly payments to FDR; I do not have additional funds to negotiate with. I am currently trying to get out FDR’s program but they are not returning my calls. Currently my debt is just under $20,000 and I am frightened I will have my wages garnished my checking account frozen and/or lose my home. Any ideas or suggestions? I feel like I am about to lose everything.
    Let me state that YES I now know that I have made a poor choice in choosing FDR, even though they did settle with one creditor. My main concern is how to settle this on limited funds, and how to get out of FDR’s progam so that I may do so.

  • Erika says:

    We have about $22,000 in credit card debt. I am unemployed. We are now living solely off my husbands income (about $80,000 annual). It is getting very difficult to pay down our debt. It is hard to make payments on time, making it seem nearly impossible to ever get out of debt. Has anyone heard of using companies like Money Management International (debt counseling organizations) to consolidate and pay off credit card debts? If so was it a positive experience? how will it affect our credit? or should we just keep trying to do this on our own. Any help is much appreciated!

  • Colton says:

    Has anyone out there gone to any of those companies that offer relief from credit card debt? And if so, what was your experience? I’ve already done some research and do know this much,, if you haven’t been out of work for at least a good year or more the banks won’t hold much sympathy for you. That and I know some Companies are just out to scam people who are already down.

  • Sherlyn says:

    I was wondering if anyone knew of any credit card consolidators or credit relief companies that can help with consolidating credit card debt that wont affect you being able to buy a house or car, etc in the future? I know most of them will affect buying things within the next 5-7 years. Please help. I’m not looking to get more credit cards, just maybe a car or house, etc. Please help, serious answers only! Thank you!
    Also, my husband and I are looking into opening our own business and I don’t want it to affect us getting our business started.
    -I am working 2 jobs (one full time and one part time), and my husband is working a full time job (7 days a week 15 + hours a day) to pay credit cards off, my husbands job is fairly new he was laid off and just started this job in the last few months and some of our credit cards have gone into collections. This is why I am asking…I would get another job and so would he but we have no more time in the day. Sorry for all of the info, I am just trying to give out as much as possible so I can get the best answers possible.

  • Chad says:

    Anybody have experience with those debt relief programs. I am considering doing that to get out of credit card debt.

  • Polly says:

    I unfortunately am one of many who has too much credit card debt and due to some past glitches, my interest rates are high. I pay my bills and try to pay as much as I can but can’t seem to put a dent in the load. I keep hearing on radio and TV about these “cut your bills in half” credit card relief plans but I am very skeptical of those plans. Any advice….recommendations?

  • Antone says:

    Thanks in advance..

  • Irvin says:

    I’m trying to figure out which route to take with my financial situation. Are there any other options for a person who is still current with all payments but on the verge of possible financial ruin?

  • Daniel says:

    since there is forgiveness on short sales for homeowners what about credit debt.

  • Rodolfo says:

    I’m trying to figure out which route to take with my financial situation. Are there any other options for a person who is still current with all payments but on the verge of possible financial ruin?

  • Eliseo says:

    Hello everyone. My friend is in serious credit card debt problem. He is in about $20,000 debt with credit cards. We need your help in how this credit card debt can be solved. We have looked at many organizations such as credit guard and etc. What do you recommend for us to do and who do you recommend as the best to help us take care of this problem? All help is greatly appreciated.

  • Tracy says:

    I came across this company online that claims to legally wipe all of your unsecured debt. If you listen to the audio track they have on their site, sounds too good to be true. Anybody knows anything about this company? This is the link:

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