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 Posted: Mon Jan 28, 2008 8:37 pm Subject: debt settling isnt working |
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I need help. The credit cards are not willing to settle. They also have judgments on me. Is there a cc settlement company that would help? Or do i need to do bankruptcy? I have around 14,000.00...what do i do?
one of the cards is 6800.00 when the limit was 3500.00. And the other one is 7400.00 when it was a 4500.00 limit.. I havnt paid a payment for about 2 years.
Please help
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broncosvsvikings
Joined: 28 Jan 2008
Posts: 2
Debtcc Points: 78
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| Posted: Mon Jan 28, 2008 8:49 pm Subject: |
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Being that you are a registered member you can get a free consultation (button on the right). I have no experience with bankruptcy and in my opinion you need legal advice to make that decision.
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LoneGunman
Joined: 14 Jan 2008
Posts: 226
Debtcc Points: 1629
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| Posted: Mon Jan 28, 2008 9:09 pm Subject: |
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Just because you haven't made a payment doesn't mean that the interest stop adding on to your balance. That is why you balance is so high. So you have 2 years of interest and late payment charges and it is possible that they have added on over the limit charges on that also.
Are you trying to settle these accounts? Or have you hired some one else to do it for you?
As far as filing for BK, it isn't as easy as it used to be to file for it. I think that if it is just those 2 accounts, you should be able to take care of them without filing for BK. I would get the free consultation. But BEFORE you sign with ANY company please check them out. Check to see their rating with the BBB and also contact your state DFI or AG and see if the company is licensed in your state to do business AND ask if they have had any complaints against them. If what you find out from those 2 places doesn't look good then I would go with a different company.
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puddlejmpr
Debt Samaritan
Joined: 15 Dec 2006
Posts: 1255
Debtcc Points: 3043
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| Posted: Mon Jan 28, 2008 9:21 pm Subject: CC |
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I KNOW THAT THE INTEREST AND STUFF DOESNT STOP..THEY ALSO PUT LAWYER FEES ON TOP OF IT ALL..I AM TRYING TO SETTLE WITH THEM MYSELF..I HAVE BEEN CALLING THEM UP PERSONALLY..
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broncosvsvikings
Joined: 28 Jan 2008
Posts: 2
Debtcc Points: 78
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| Posted: Mon Jan 28, 2008 10:28 pm Subject: |
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I'm sorry I didn't see that you had judgments against you 
I don't know if you can settle on a judgement. I think you will end up paying what the court ordered you to pay. They will not settle for less.
Someone will be along shortly to help you on this. But for now I would call around to see if any company can help you settle on a judgement.
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puddlejmpr
Debt Samaritan
Joined: 15 Dec 2006
Posts: 1255
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| Posted: Tue Jan 29, 2008 2:20 am Subject: |
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You could settle these cards yourself, but you need to be sure the collection company really owns the debt, validate it first. If you do not have a lump sum settlement it is harder to settle after this amount of time and they may not be willing to work with you. Regarding judgements, if the creditor that filed the judgement is willing to settle for a lump sum and for less, you can still settle a judgement, just get it in writing and provide the agreement to the court filing the judgement so they can release it. If you are able to settle the debt, it's important to send a letter to the three major bureaus along with the evidence you settled for less so they can update the credit report.
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lostindebtat50
Joined: 24 Oct 2007
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