Posted on
August 26, 2009
at
1:09 am
I see and hear a lot of that. "Get out of debt in three years.." "Get out of debt fast and easy..." etc. But what does it mean?
Posted on
August 26, 2009
at
1:15 am
Get out of debt in three years?That's possible via the debt relief program Debt Settlement. If you qualify you can expect your debts to be paid off in 3-5 years.
Posted on
August 26, 2009
at
1:31 am
The get out of debt in three years idea - or the debt settlement program is only good for unsecured debts (credit card). For your secured debts, you will have to modify your payment terms with the lenders.
Posted on
August 26, 2009
at
1:57 am
I agree, the get out of debt in three years part is doable, but the "fast and easy" part is not true at all. Getting out of debt is never fast and easy.And just to expound on debt settlement qualification- the consumer must have over $10,000 worth of credit card debt to qualify for the program. That and the accounts must be past due. Otherwise, the creditors might refuse to settle.
Posted on
August 26, 2009
at
1:59 am
How much would an enrollment with a debt settlement company cost? And would it stop the collection calls? I can't imagine collections calling my numbers day in and day out for 3 whole years..
Posted on
August 26, 2009
at
2:03 am
The price that you are going to have to pay to get out of debt in three to five years is - 15% of your total debt amount which is spread out over 18 months, or they will take between 20-25% of the settlement amount.
Posted on
August 26, 2009
at
2:05 am
How about the Kevin Trudeau method? Can I really get out of debt in three years or less, or so he says?
Posted on
August 26, 2009
at
2:10 am
Just to add to the fees - and correct me if I'm wrong - If you owe $10,000, your monthly payment will be about $150.00/month. If you owe $20,000, your monthly payment would be about $300.00/month. That's a lot of difference from if you're paying your original minimum credit card payment of $800/month.
