Posted on
October 1, 2009
at
10:16 pm
should a consumer file bankruptcy to get rid of credit card debt? or is there another way?
Posted on
October 1, 2009
at
10:51 pm
should a consumer file bankruptcy to get rid of credit card debt? Not necessarily.
or is there another way?There are alternative debt relief programs to bankruptcy- like credit counseling and debt settlement.
Posted on
October 1, 2009
at
11:28 pm
Filing bankruptcy to get rid of credit card debt would cause your credit to suffer for 7-10 years. Also, a bankruptcy stays in your public record for 20 years. For credit card debts that are more than $10,000 and the accounts past due, it's better to enroll in a debt settlement program. If you want to know more about it, please feel free to fill out a form here at destroydebt.com and get matched up to the right program/company for you. It would not cost you anything.
Posted on
October 1, 2009
at
11:38 pm
Not unless the creditors/collection agency is threatening to sue you should you consider filing bankruptcy to pay off your credit card debt. One alternative to bankruptcy, if your aim is to manage your payments and not really get rid of the debt- is credit counseling and its Debt Management Plan. This is ideal for debts amounting to less than $10,000 but with high interest rates.
Posted on
October 2, 2009
at
12:06 am
You can also do a d.i.y. negotiation or settlement with your creditors or the collection agency to avoid them thinking about suing for judgment They'd really rather have you pay however much you can (?) than not pay at all. They would also agree to reducing your balance to half if you would pay the other half in full (?)
Posted on
October 2, 2009
at
12:08 am
How long does it take for a credit card company to turn the consumer's account over to collections/agencies?
Posted on
October 2, 2009
at
12:33 am
but won't bankruptcy help wipe out my credit card debt?
