Posted on
September 25, 2009
at
6:05 am
if you have 70,000 in credit card debt -- what can you do? when i say you, i meant i. i cant pay this off.
Posted on
September 25, 2009
at
6:17 am
70000 worth of unsecured debt sounds good in the debt settlement industry. that amount has a chance of getting cut into ..$35,000 more or less via negotiation. but your accounts must be all past due to qualify for the settlement program.
Posted on
September 25, 2009
at
6:19 am
I agree, to qualify for a debt settlement program your debt must be above $10,000. And if you're wondering about the fees: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. And so on.That's a lot of difference from if your original minimum credit card payment is $800/month.
Posted on
September 25, 2009
at
6:22 am
Speaking of fees: just do the math with your 70,000 worth of credit card debt:Debt settlement companies will usually charge you 15% of the total debt amount - spread over 18 months. Or, between 20-25%. of the settlement amount.
Posted on
September 30, 2009
at
6:04 am
Negotiating settlement amounts for $70000 in credit card debt largely varies. Depending on the agreement made between the creditor and a debt settlement negotiator, it cannot really be guaranteed that a 50% is possible. IT can be higher, it can be lower.
Posted on
October 1, 2009
at
2:51 am
Would bankruptcy be a good alternative for me if I had that kind of debt amount?
Posted on
October 6, 2009
at
9:23 pm
Bankruptcy would be a viable option if you have $70,000 in credit card debt, but I would suggest that you consider it as a last resort in getting this amount taken care of. Bankruptcy has long-term effects on your credit report, and I would suggest that you seek out other methods of debt elimination prior to filing for bankruptcy.Feel free to tell us about your current debt situation so that we may be of further assistance to you. What you can do is fill out a form on the main page of this forum--DestroyDebt.com--and from there you'll be matched with a qualified provider. You won't have to worry about charges and fees because the service is free.
Posted on
October 9, 2009
at
3:08 am
I would file for bankruptcy if I had 70000 in credit card debt
