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Sub: #1 Debt Settlement
Replied on 07-14-2008, 01:53 PM
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How do I go about negotiating debt settlement when my credit status is still in good standing? I have spoken with several credit card companies and they all specify that since I am in good standing there are no settlement options available.
I have limited funds set aside to payoff my cc debt and a large amount of unsecured debt that I want to resolve and close my accts. Paying the monthly minimum is not an option, since I am looking to close the loop on the revolving debt and limit the negative credit impact if possible.


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Sub: #2
Replied on 07-14-2008, 01:59 PM
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Why were you wanting to do a debt settlement program? Don`t get me wrong. I like debt settlement but its really only for people who are overextended and are already behind or about to be.

Have you considered a debt management Plan? It is administered by a credit counseling agency and will be able to consolidate your unsecured debts into one payment at much lower interest rates.

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* Disclosures:
  • By signing up for counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
  • Some creditors and collection agencies refuse to lower the pay off amount, interest rate, and fees owed by the consumer.
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