Posted on
March 14, 2010
at
10:02 pm
What are the basic things that I should know about settling debt for less than owed or debt settlement?
Posted on
March 14, 2010
at
10:15 pm
What are the basic things that I should know about settling debt for less than owed or debt settlement?- that it is taxable if the forgiven debt is more than $600.
Posted on
March 15, 2010
at
12:28 am
What are the basic things that I should know about settling debt for less than owed or debt settlement? - debt settlement is a program that aims to reduce your balance to more or less half (35-70%)(?) in 1 to 3 years.
Posted on
March 15, 2010
at
2:51 am
Settling debt for less than owed - you can do this yourself. Know thoughthat your original creditor would not/may not settle if your account is still current -because that means that you can afford to pay the full amount - so if youlet your account go delinquent for 5-6 months (and if they don't giveyou any notice pertaining to a legal action against you) it would charge off.Be assigned to a collection agency - there you'd have better chancesat debt settlement.
Posted on
March 15, 2010
at
3:49 am
Settling debt for less than owed with the creditors (if, at all, they agree, in percentage)would be around 75% of your balance. If you can come up with that - I supposethey'd find it hard to turn you down. I could be wrong.
Posted on
March 15, 2010
at
3:56 am
Which is more effective - debt settlement d.i.y. or professional debt settlement?
Posted on
March 15, 2010
at
4:04 am
It depends on what you can afford - or your preference. If you aregoing to do it d.i.y. and you have several creditors and the status ofyour accounts + interest rates all differ (vary) - you might have a loton your plate there. If you are doing it d.i.y. you'd have to learn your creditors moods (character) - also what sort of season are theyhaving - is it a generous season? - a "no" to settlement season - theseare non-professional tips by the way, but I know people for the settlementbusiness. Anyway - all these hassles, you won't have to deal withif you hire the services of a settlement company. The settlement companywould also attempt to lessen your collection calls - as they would beworking on your behalf - representing you to your creditor/collector.
