Posted on
December 11, 2009
at
1:50 am
What debt relief solution is right for me? I owe owe more than 10 000 in credit card debt - and I've stopped paying all together. I know at some point this is going to lead to something bad. Can you help me?
Posted on
December 11, 2009
at
2:51 am
I owe owe more than 10 000 in credit card debt - and I've stopped paying all together.Hello, and good news to you! You have just qualified for a debt settlement program. Debt settlement can reduce your balance to more or less half in 12-36 months. Now all you have to do is find the right settlement company for you.Beware of the scam ones.All the best to you!
Posted on
December 11, 2009
at
2:52 am
Hi. I stopped paying because I can't afford the monthly payment anymore. $800/mo. or so is just too tough. How much did you say a settlement would cost monthly?
Posted on
December 11, 2009
at
3:14 am
Debt settlement companies would charge 15% of your total debt amount -spread over 18 months or they will take between 20-25% of the settlement amount. So for example, 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.
Posted on
December 11, 2009
at
3:15 am
Will an enrollment with the debt settlement company stop the collection calls?How else can the consumer benefit from it?
Posted on
December 11, 2009
at
3:32 am
Not completely no. Only bankruptcy can do that via the automatic stay and even that is also temporary. As long as the debt is unpaid, there would be collection calls.What debt settlement can do, or rather the company, is minimize the calls. Them, acting in behalf of the consumer, should help lessen the communication between the collectors and the consumers.What are the other benefits of debt settlement?It's effect on the credit is not as bad as that of a bankruptcy.Although debt settlement, just like Chapter 13 stays on the credit report for 7 years, debt settlement would not be on the public record at all, unlike with bankruptcy - that stays for 20 years.
Posted on
December 11, 2009
at
3:34 am
alright ..can you recommend a company? at least 3.and what should i ask them? what should i expect?
Posted on
December 11, 2009
at
3:40 am
No sorry, I can't recommend a company.With regards to what you should ask them - ask about the fee structure. Ask if they take a one time payment up front or if the company breaks their fees down into a "retainer" fee and a "service fee.
Posted on
December 11, 2009
at
3:49 am
Hi here's what you should look for in a settlement company:-The settlement company's program must have a fast completion time. 12-36 months.-The program must be able to protect and improve the consumer's credit standing.-Must be a member of the Better Business Bureau, BBB, for at least 5 years.-Must also have a good standing with the Chamber of Commerce-A Member of TASC - The Association Of Settlement Companies and the IAPDA or theInternational Association of Professional Debt Arbitrators
Posted on
December 17, 2009
at
3:45 am
If the question is - what can you do if - you owe more than 10 000 in credit card debt and you're unemployed plus the collection agency has already sued you - then I think you can go ahead and file bankruptcy.
