Posted on May 24, 2010 at 3:33 am should i do debt settlement- i read that you have to be past due...I'm not, although I owe a big amount..

Posted on May 24, 2010 at 3:55 am Yes at least better then going for bankruptcy also less hurt credit score.

Posted on May 24, 2010 at 4:29 am should i do debt settlement- i read that you have to be past due...I'm not, although I owe a big amount.. -- I hesitate to give you an advice because I do not know your real situation. However, if by big amount you mean $10k and above, then it would make sense to have that amount negotiated to more or less half.

Posted on May 24, 2010 at 7:48 am Should i do debt settlement? - I agree with destiny, I think it's better if you have your situation assessed first, and if you're interested, destroydebt.com is offering just that - free assessment, just fill out a form here. Anyway, if you're wondering what debt settlement can do for your balance - it would negotiate it to more or less half, so you can be debt free in less than 3 years.

Posted on May 24, 2010 at 7:50 am Hi there Bizaaro, some consumers undergo credit counseling first, because it's free, and then find out from there if they are going to sign up for debt management plan (which deals with interest rates) or debt settlement (for the entire balance). To save you from doing that, if you owe $10k or more and your accounts are mostly past due, it might make more sense for you to do debt settlement.

Posted on May 26, 2010 at 4:25 am Have you defaulted on the debts? are you making the minimum payment or less than the minimum amount?If you haven't defaulted its unlikely that you will get an F&F.If you have already defaulted then the effect it will have on your credit file will depend on what they will agree to, usually they will mark your file as satisfied but partially settled so it will be clear to other lenders/potential lenders that you did not pay off the debt in full (which could make it harder to get credit.)Sometimes people manage to get the creditor to agree to mark it as fully satisfied (even if you haven't).Make sure you have it in writing from them that its F&F and they won't chase you further before you make your payments.My new blog.. on trying to get out of debt, making extra money online, just little things I have picked up along the way... http://debit-free.us/ Updated regularly

Posted on June 3, 2010 at 11:56 am The reason you need to be past due is because it creates "negotiating power". A creditor is not willing to settle on account that is in good standing. Why would they? Credit card companies thrive on high interest rates. Feel free to contact Bill Shannon at Rapid Debt Settlement if you need some financial guidence. bshannon@rapiddebtsettlement.com 1-888-265-8724 ext.368

Posted on July 11, 2010 at 1:07 pm Before you should decide whether or not to do debt settlement, first speak to experienced experts to find out your options!

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Posted on July 13, 2010 at 6:49 am if you are stuck hard in your debt and looking for a debt management ..still i will suggest you to take an advice from the consultant ....no doubt it will resolve your problems....