Posted on
January 20, 2010
at
1:31 am
This thread is for those who are behind or about to fall behind on their credit card payments. Don't despair! Everybody, throw in a related question and I'll try to answer them.
Posted on
January 20, 2010
at
4:20 am
What are the debt relief options for consumers that are current and for consumers that are past due?How long does it usually take to clear out a $10,000 debt?Can the consumer be debt free via his/her own effort? D.I.Y. If so, how?
Posted on
January 20, 2010
at
4:23 am
Is taking out a loan or filing bankruptcy an option for consumers who are behind on their credit card payments?
Posted on
January 20, 2010
at
4:26 am
What action does the creditor take against consumers who are behind on their credit card payments?
Posted on
January 20, 2010
at
4:28 am
If you are behind on your credit card payments by 3 months ... and the creditor is threatening to sue you, what do you do? Is there a reason to panic?
Posted on
January 20, 2010
at
4:30 am
When do consumers start getting collection calls? What to do with those? What's the worst case scenario?
Posted on
January 20, 2010
at
4:38 am
Wow! So many questions!Where to start ...@you've lost that lovin' feelin' - the consumer starts to get collection calls (from the collection agency) 5 to 6 months after the last payment.@Heads will roll on the floor & La Reine Margot - if the creditor is threatening to sue you and you still don't have the money to pay them, you don't have a choice do you? It might help to know that after 6 months, your creditor is required to write off your debt to the IRS, and that's the part wherein they pass it on to a third party collection agency (wherein you can negotiate your balance to more or less half), or go ahead and sue you for judgment. I actually don't know exactly what's going to happen there. @kelliepickles - yes but... those should be the last resorts.@ilikeitwhenwegotoextremes - Credit Counseling & Debt Settlement.Via debt settlement, 12 to 36 months.Yes.By learning how to negotiate with the creditors and when.
