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Tyler111 · Posted: Thu Apr 26, 2007 7:16 pm Subject: Best way to work out my debt

I came here to ask help on the best way to work out my debt.
I owe around 20K cc debt with my Partner.
We have around 1000 extra left after all bills and minimum payments.
Ive never been late on payments and Ive never missed a payment.
It seems like this is going to go on forever though.
If I call my creditors and ask them to reduce the amount I owe but some certain % will they cooperate with me even though I have no problems paying the bills? Ive learned my lessons and I'm ready to move on and start living again.

Thanks.

Posted: Fri Apr 27, 2007 3:02 am Subject:

Hi Tyler111

Do you own any property or are you paying off a mortgage? If you do/are, you can use the equity in your property to pay off your credit card loan. The reason this is good is that interest rates on mortgages are usually much lower than on credit cards. This could potentially save you thousands of dollars on a 20k debt.

Tyler111 · Posted: Sat Apr 28, 2007 9:01 am Subject:

Nope I do not own any property and I don't even own a car. This is all junk debt with nothing to show for it.

Tyler111 · Posted: Sun Apr 29, 2007 11:53 am Subject:

Anyone can help?

Posted: Mon Apr 30, 2007 6:41 am Subject:

You don't need to own any property to get started with debt consolidation. How old is your debt? You need to check the SOL of your state to make sure whether the collection agency can take any legal action against you.

Tyler111 · Posted: Tue May 01, 2007 7:47 am Subject:

Ive had my debt for about 2 years. I have no problems meeting the minomum payments right now, I can even pay extra. Can I talk the credit card companys down on the amount I owe?

Guest · Posted: Wed May 09, 2007 1:28 pm Subject:

Profanity deleted - Mike

Posted: Wed May 09, 2007 1:35 pm Subject:

Sometimes if you have had a good payment history you can explain to them the situation and they will lower your payments for you.my husband did that with his air tran account

Posted: Wed May 09, 2007 3:06 pm Subject:

Can a mod please delete the above vulgarity? Thanks.

Tyler, rlg is right. They will sometimes lower payments or interest rates for you if you are in good standing.

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