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 Posted: Thu Apr 06, 2006 8:44 pm Subject: Settlement Options? |
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Oh my...I originally posted this in the wrong forum...moving it here in hopes of a response! Sorry...flustered today.....
Okay, I've talked with the consolidation recommendation from this site, and I just can't see my way clear to pay the monthly payment to get through consolidation. The amount quoted would leave me with less than 100 week for utilities, food, and transportation to and from work. Yep, I have big debt, but I also make good money. I'm already behind a couple of months on most credit cards, and just getting caught up on the mortgage and car payment. Still have to figure out how to come up with 2500 for the property taxes, oh, and don't forget the 600 state tax bill due next week.....
My phone is ringing off the hook (which I just can't face answering right now - what did we ever do before caller ID?).
My question: has anyone been here, done this, and had to use settlement as a way to eliminate debt? If so, any recommendations? (Yeah I know, this is not the recommended way to go, but I don't know what else to do.)
HELP!
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ginnybee14
Joined: 31 Mar 2006
Posts: 9
Debtcc Points: 701
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| Posted: Fri Apr 07, 2006 10:41 am Subject: |
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Ginnybee, first I will like you to get familiar with the term debt settlement5 because it will leave negative consequences while you are getting your debt settled. This will appear in your credit file for a period of seven years and will hurt your ratings.
Compare the debt settlement program with the consolidation program after reading the page given below and then choose your best options. Of course, settlement will eliminate most of your debt amount and you will have a much lower pay off. But do give a thought on the consequences also related with it.
http://www.debtconsolidationcare.com/forums/comparison.html
_________________
Debtconsolidationcare offers free counseling and help, please avail the services before taking any major decisions.
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roxette
Moderator
Joined: 18 Mar 2005
Posts: 4175
Debtcc Points: 50387
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| Posted: Fri Apr 07, 2006 4:19 pm Subject: |
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Ginny,
I am working with Consumer Credit of America as counselors. They went through a budget with me to see what I could afford. They have been very helpful. You might try them.
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Htgt123
Joined: 05 Oct 2005
Posts: 165
Debtcc Points: 12297
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