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 Posted: Mon Apr 23, 2007 11:20 am Subject: looking for a better interest rate to pay my bills |
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My story is that when i was about 18 i got a Target Visa
with a really high credit limit and was really irresponsible with it. Ive been trying to dig myself out of this hole im in for a couple years now but feel like i am not moving anywhere. If i can get a better interest rate and all my bills into one that would help out a lot. I look forward to speaking to someone and figuring out what can help me get to where i wanna be financially.
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Casanova
Joined: 23 Apr 2007
Posts: 1
Debtcc Points: 40
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| Posted: Tue Apr 24, 2007 11:46 am Subject: |
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Usually, the consolidation program allows you lower interest rates to pay the debts. How long have you been in default? If you have a big total, maybe you can consider a debt settlement. The counselor will negotiate the total balance with your creditors and reduce it by 40% to 60%. Speak with the counselor and work out on different options before finalizing the plan.
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weeswie
Joined: 07 Aug 2006
Posts: 382
Debtcc Points: 5743
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| Posted: Tue May 01, 2007 2:46 pm Subject: debt settlement |
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Even with this kind of settlement, are you not liable for the write off in some way, be it credit report or even court?
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cfb193
Joined: 05 Apr 2007
Posts: 11
Debtcc Points: 417
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| Posted: Tue May 01, 2007 2:49 pm Subject: |
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Yes, the amount settled will be treated as an income to the IRS and taxes have to be filed on the amount settled more than $600.
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Trenity
Joined: 14 Mar 2006
Posts: 510
Debtcc Points: 6278
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| Posted: Tue May 01, 2007 3:13 pm Subject: Debt |
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Have you ever heard of Integrity Debt Options? They are out of Missoula,Mt.
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cfb193
Joined: 05 Apr 2007
Posts: 11
Debtcc Points: 417
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