I owe roughly $10,000 on credit cards. I needed a way to pay my bills because it was a difficult time. Blah blah blah. They were never paid by me. Every account has been closed, charged off, or forwarded to collections. My credit is severely damaged already. Would any of you advise enrolling in a debt relief program? Any recommendations or guidance would be greatly appreciated!
Try managing your debt. Check to see if they can assist you with those collected cards. I think they can, but I’m not positive. They will set up a strategy for you to pay them back if they can. American Consumer Credit Counselling is the business. Consumercredit.com
I work in credit counselling, therefore I can tell you that debt settlement is the best course of action given your particular situation. Only accounts that are pre-charge off and less than three months past due are eligible for assistance from a DMP. You can settle accounts directly with the collection agencies, but doing so will incur fees from the settlement company.
You don’t specify the length of your debt or whether the state debt is constrained. Having said that, I would go down that path if you are able to pay the debt in full (assuming you don’t have any unique reasons; I believe you will require between 40 and 50 percent). It has advantages and disadvantages. This previous year, I resolved a lot of my debts at 30% as my spouse got unwell and couldn’t work.Still more to go, but I’m putting money away for next year, so perhaps the tax will remain reasonable. Best of luck!
Since I’ve been using Green Path for more than a year, I can honestly say that they’re pretty decent. My interest rates were cut by four separate companies. They were helpful at initially, but regrettably I’m now significantly deeper in debt and am thinking about filing for bankruptcy. It works over time if you have the money to pay for it.
Complete swindlers! You can handle each and every one of them on your own without having to pay exorbitant costs to a third party.
Ignore them if they are already in collections until you receive a summons to appear in court. Try to save as much cash as you can in the interim so that you can pay a settlement with each collection.
Attempt to get a settlement when you go to court at that point. If you have $2k, tell them you have $1K if they like to settle. If they say yes, let them know you’ll send the money after they give it to you in writing.
I went through national debt relief because I owed $34,000 on credit card debt. I recently completed the program and it really helped me get my debt under control!