I am looking to pay off a significant amount of debt in the near future but I don’t think I will have enough to pay off everything completely. I have heard from other people that they were able to get the credit card companies to settle their debt for thousands less than the total they actually owed. I was wondering how or if there was actually a way to do this.

Technorati Tags: credit card companies

I have a minimal amount of credit car debt less than 10k, but the minmum payments were killing me and I wasn’t getting anywhere with the balance. I joined a credit counseling service and have not ever had a late payment on iut. Now it is on my score as a negative account because of the DMP. My husband and I are doing arefi to pay of my credit cards, and a friend told me that some credit card companies will take a lesser amount to get you to pay it off. I called the first company and they knocked 2K off right off the bat. The next company said they would negotiate a settlement ONLY IF I AM DELINQUENT. Should I let it go delinquent to do a settlement? Will it hurt my credit any more than it already has if it is late???

Technorati Tags: credit car, credit card companies, credit cards, credit counseling service, iut, score

I was going to go with a debt settlement company, but I am getting way to nervous about it so I think I am not going to do it. For some reason my gut is telling me not to go with them. They want their fees first before they start working on my debt which makes me think they will just take their money and run.

So I was wondering can I settle my own debt with my credit card companies? I have been reading a lot of articles that say the credit card companies are willing to settle your debt for less now so they will still get paid some of it? What is the best way to do this…I would like to do it on my own so I don’t have to pay anyone else. That way I also know that my debts will definitely get paid off. One of the issues I have though is let’s say I have ,000 on a credit card and call them and they agree if I pay ,500 of it they will mark it as paid in full. I don’t have the 00 right away do you know will they let me pay the ,500 off without fees and over a payment plan? How does all of this work when you are trying to do it on your own?
As of right now I am 3-4 months behind on paying my cards off.

Technorati Tags: 4 months, cards, credit card companies, Debt Settlement, debts, money, settlement company

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.

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I have about 00 credit card debt on about 4 cards total. The debt has been in collections for 2 to 3 years. I have been working on repairing my credit but these 4 cards have done damage because I wrote them off. Should I contact these credit card companies and settle the debt and If I do will that have any effect on my credit score or will the score remin he same or will my score improve because I have settled the debt.

Technorati Tags: 3 years, cards, collections, credit card companies, credit card debt, credit score

There are provisions in the state code for filing a detinue form for the sale of property to settle debt after receiving a judgment and posting a lien. Is this legal to be used by credit card companies? I get lots of conflicting info off of the web.

Technorati Tags: credit card companies, judgment, provisions, state code

It would take me years to pay back my entire debt to these billion dollar credit card companies, which I don’t feel at all guilty about with all the interest that they charge.

However, I want to resolve my debts in order to improve my credit score. Are there any good websites that offer advice and ways to settle these debts at relatively low amounts?

Thanks in advance.
Also, some of my debts have been delinquent for over 5 years and have been sold off to collection companies. How do you settle these if the credit card company is no longer involved in the debt (i.e., they sold the rights to the money).

Technorati Tags: credit card companies, credit card company, credit score, debts, dollar credit, money, thanks in advance

I’m not sure if this is even possible but can someone make a debt settlement offer if there account isnt in default? I’ve recently had an opportunity to work some over time and save some money and I have a few accounts that I would like to close out and pay off. I’ve heard of some people making offers with credit card companies to settle their debt and close their accounts but their accounts have always been in default where mine are not. If its possible how would I go about doing it.

Technorati Tags: credit card companies, Debt Settlement, money

i have 60k in credit card debt. i am unemployed, and have to move back in with my parents. i have 9 different credit cards, all with significant balances. at this point in my life i realize i am screwed credit wise, filing bankruptcy was an option for me, but i would rather settle my debt and only have my credit screwed for a few years instead of 10 – 15 years as would be the case if i filed bankruptcy. i haven’t been paying on my credit cards for the past 4 months or so because i couldn’t afford paying them, and i knew that i was going to settle, so instead of signing up for a debt settlement company and letting them wait for my delinquencies, i’ve decided to let them fall behind on my own. i couldn’t afford the monthly payment for the settlement at the time because i’ve lived on my own, but now, i’m moving in with my parents and will not have to pay rent, and can focus all my unemployment funds to getting out of debt. i do not want to negotiate with 9 different credit card companies on settling. i’d rather pay the 15% or so for a debt settlement company to do all that type of work, where i then can have all 9 credit cards settled with the same company, and only have ONE monthly payment where it could be paid off in 3 or 4 years. can anyone tell me a good, reliable, cheap debt settlement company, in which i can consolidate all 9 of my credit cards into one monthly payment in which i can afford? i know i’ll have to pay a little more for using a settlement company, but to me it would be worth it instead of dealing with 9 different entities, making 9 seperate payments. i just want to use a settlement company that i can trust, which will be able to bring my total debt down from 60k to around 30k (most advertise can lower your debt to 50%), where i can make one monthly payment. i realize there are fee’s and i also would have to pay back some money on my income tax, i’m looking for a company that would be the least expensive, and also one that is reliable and will not screw me over. please, if anyone can lead me in the right direction with a decent settlement company it would be greatly appreciated, thank you so much in advance for your help, thanks again.

Technorati Tags: 4 months, credit card companies, credit card debt, credit cards, Debt Settlement, delinquencies, entities, filing bankruptcy, getting out of debt, income tax, money, parents, settlement company, unemployment funds

Interested in knowing your opinions. I’m sure you’ve all known people who are drowning in debt, and have been paying the credit card companies for years and years and still have been unable to pay off the balances.

Then the credit companies have increased the interest rates to 30% not because they were’nt paying, but because they had high revolving balances. Or, credit lines have been frozen because of a late pay on another card (universal default).

Do you think that debt settlement is wrong, because people should pay back what they own?

Technorati Tags: credit card companies, credit companies, Debt Settlement, drowning in debt, interest rates

I know that the trustee has to sell whatever assets you have, to partially pay back the creditors, but what ARE those assets? Like Furniture? Dishes?

Please dont tell me how bankruptcy can ruin credit, etc. I know it already, and after all of this hell with the credit card companies and the mortgage company, who the hell in their right mind would want to deal with credit ever again? Just, if you have the answer, then great, please answer. If not, then keep your opinion to yourself and move on. Thanks.
I dont even have the money to buy food or toilet paper, let alone a boat. If they are only looking at major purchases, then they are going to be in for a shock.

Technorati Tags: assets, bankruptcy, credit card companies, creditors, dishes, furniture, hell, money, mortgage company, shock, toilet paper, trustee

I was told debt settlement agencies know how much a creditor is willing to settle for and so they are better negotiators.

Should I just use my debt settlement agency since I don’t know how to negotiate with my credit card companies?

Technorati Tags: credit card companies, creditor, Debt Settlement, negotiators, settlement agency

I was ripped off by my finacial advisor, and a caregiver, now I owe a few credit card companies. I want to clear my debts in full (or settle). Will I damage my good credit if I negotiate a settlement? What can I do? I qualify for medical hardship, these debts accurred over a couples years, due to becoming paralyzed and permanetly wheelchair bound. I do not receive disability, but am retied with pension. Will a police report help or be needed? Thanks.

Technorati Tags: caregiver, couples, credit card companies, debts, disability, finacial advisor, medical hardship, police report, wheelchair

I would like to hear from people who have actually filed. What happened? What is the process? Are you happy with your decision? Stress relieved?
I am so in debt and credit card companies keep raising the interest rate. I cannot get ahead. I don’t see another alternative.
Please – only people who’ve actually filed. Thank you!
Any information is appreciated.

Technorati Tags: credit card companies, interest rate, stress

I never late for any of my payments except one time, one of my credit card companies changed the grace period and kept it low key and because of that, I was late for 1 day and becuase of that, they raised my APR from 3.99% to 29.99%. When I called them, they kept saying this was not their responsability and nothing they can do and NOT even listened to my reasons. I have no choice but to file bankruptcy.

Technorati Tags: bankruptcy, becuase, credit card companies, grace period, low key, responsability, time one

I am currently 30 years old and a stay at home mom with 1 kid and 1 on the way. I do not own anything in my name. I plan on going back to work next year by March 2010. I had a credit score of 700 about 3 years ago. I lost my job about a year ago and racked up about K in credit card and medical bills. My credit score is probably not that great anymore. My boyfriend does not make enough money to pay the credit cards any longer. We were going to start next month and NOT pay them at all. We were paying the minimums before but need the money to eat and feed the kids now. We are thinking about filing bankruptcy but not sure if it’s the way to go. Here are my questions:

1) Do you think BK is the way to go?
2) Will the stores come and take my belongings if I file for BK (such as the television)?
3) Is it better to file for BK after filing for tax return? (So they don’t take the refund)
4) Will it be a problem trying to find a job in the accounting/finance field if I file for BK? (As some companies may do credit checks.)
5) Do you think I should talk to the credit card companies before I go filing for BK? I doubt they would really help me though.

Technorati Tags: 3 years, accounting, belongings, bk, credit card companies, credit cards, credit checks, credit score, enough money, filing bankruptcy, finance field, job, medical bills, stay at home, stay at home mom, tax return, television

I owe US$ 100K to more than 10 credit card companies/ banks since 1998. I have not been able to repay this debt since 1998 due to financial distress and I have been residing abroad (out of the U.S) since then. Now that my financial situation is relaxed I wish to repay my debt to each of the banks that I owe debt to. However I’m not able to do so because I still reside abroad and it is not convenient to settle this debt from abroad as it require a lot of formalities. How can I find a reliable lawyer based in the U.S who can carry out this job for me.

Technorati Tags: banks, credit card companies, financial distress, financial situation, formalities, job, lawyer

I have about 00 credit card debt on about 4 cards total. The debt has been in collections for 2 to 3 years. I have been working on repairing my credit but these 4 cards have done damage because I wrote them off. Should I contact these credit card companies and settle the debt and If I do will that have any effect on my credit score or will the score remin he same or will my score improve because I have settled the debt.

Technorati Tags: 3 years, cards, collections, credit card companies, credit card debt, credit score

I recently heard on radio about a debt free program. They officially negotiate on your behalf with the credit card companies. What may be the Cons? Is it safe to rely on Debt Settlement Program to free from one’s credit card debts? How may it affect one’s credit score?

Technorati Tags: credit card companies, credit card debts, credit score, debt settlement program, radio