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 Posted: Thu Jan 25, 2007 11:14 am Subject: I have 70,000.00 in unsecured debts |
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I have 70,000.00 in unsecured debts that I can not avoid the monthly payment HELP!
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jcollins_1
Joined: 25 Jan 2007
Posts: 1
Debtcc Points: 47
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| Posted: Thu Jan 25, 2007 11:18 am Subject: |
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Welcome to the Community  Are these debts credit cards, payday loans? If you can give us some info, we can give you a direction to look. Since you have registered, someone will contact you for your free credit counseling. They will discuss options such as consolidation, settlement, etc. All your unsecured debts go in one monthly payment a month. If you have any questions, please ask!..KAren
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As long as you are alive, there's always hope
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Bossy4455
Moderator
Joined: 27 Feb 2006
Posts: 5465
Debtcc Points: 64243
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| Posted: Thu Jan 25, 2007 11:19 am Subject: |
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Welcome to the forum! If you entered all of your info. when you registered with this site, a debt counselor should be contacting you shortly for a free, no obligation debt consultation. they can discuss your situation and explain the options available to you.
With that much unsecured debt, they might recommend a debt settlement program rather than debt consolidation, but you can effectively choose what's best for your situation and what you can afford.
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Tiffany99
Debt Samaritan
Joined: 15 Jun 2006
Posts: 1064
Debtcc Points: 19133
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| Posted: Wed Sep 12, 2007 12:50 pm Subject: |
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We too have that so I know how you feel. Don't give up. There is so much good information on this site. You have come to the right place. We are learning all we can before going into a settlement program. It's that or the next step will be bankruptcy and we are avoiding that at all costs. There is hope. Learn all you can about all of your options.
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lisaawilliamson
Joined: 04 Sep 2007
Posts: 120
Debtcc Points: 2273
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| Posted: Wed Sep 12, 2007 5:44 pm Subject: I Can Cut Your 70,000 debt 40-80% |
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Marketing post removed as per forum rules - Mike
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goodbye2debt
Joined: 12 Sep 2007
Posts: 2
Debtcc Points: 64
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| Posted: Wed Sep 12, 2007 6:04 pm Subject: |
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70k. I can imagine how nervous you are right about now. Hopefully you are able to head any collections off at the pass. I know that there are several debt management companies and debt settlement companies out there. Be sure to do your research on anyone you think may fit you the best.
Debt Management- Helps to lower your monthly payments, interest and stops late fee's.
Debt Settlement- Helps settle your debt often for as low as 50% of the origional balance. This is not a minium monthly payment program. It usualy is where you put money into an account and a company contacts your creditors and attempts to settle your debts for you.
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FYI
Moderator
Joined: 18 May 2006
Posts: 1774
Debtcc Points: 16568
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| Posted: Tue Sep 18, 2007 10:39 am Subject: |
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You may find yourself in the situation we are in. We can't do monthly payments on debt settlement program. We had originally been told that we could do debt settlement for up to 5 years. Now we are being told that that isn't true. It will take $1000-$1100/month for three and a half years to do debt settlement and I just cannot commit to that type of payment. But don't give up. I read one quote,"Trying to save your credit while getting out of debt is like trying to water your lawn when your house is on fire".
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lisaawilliamson
Joined: 04 Sep 2007
Posts: 120
Debtcc Points: 2273
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| Posted: Tue Sep 18, 2007 12:35 pm Subject: Wow! |
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I used a debt settlement company it really helped!
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basicbrentwood
Joined: 18 Sep 2007
Posts: 4
Debtcc Points: 65
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