Unregistered
Anonymous
Posts: n/a
Credits: 48,813
Sub: #1 What if you can not afford settlement
Replied on 03-09-2010, 01:12 PM
Reply With Quote

I have lot of debt 80k all on the credit card and income has dropped and have no savings and can not pay. What options do I have? What happens to debt?

Sub: #2
Replied on 03-09-2010, 01:37 PM
Reply With Quote

payment plans or bankruptcy... I cannot think of anything else. They are not going to just forgive the debt.




Posts: 12,152
Credits: 109,242


Send message to SOAPLADY
Sub: #3
Replied on 03-09-2010, 01:45 PM
Reply With Quote

Depending on the creditor, they could end up suing you.

Unregistered
Anonymous
Posts: n/a
Credits: 48,813
Sub: #4 info to help & info to know
Replied on 03-09-2010, 04:16 PM
Reply With Quote

if you cant even afford paying the settlement amount sounds like you really might look into BK, if they tell you that you will still pay back your debts you might want to reconsider settlement.


if you dont own anything and you do not have employment that cant do anything to either.

by the way, if you havent started the settlement process how do you know you might not be able to afford it? you can work out deals with payments.

do go with a consolidation program whatever you do, you end up paying back all your debt over the same time or longer plus fees to to company you use. basicly the interest they save you will be going to the fees. makes no sense and most people quit and go with a debt settlement program once they figured out that consolidation doesnt work




«Previous Thread | Next Thread»
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes
Linear Mode Linear Mode

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump


All times are GMT -8. The time now is 09:58 PM.





About Us | Contact Us | Privacy Policy | Affiliate | Sitemap | Espanol | RSS Feeds| Terms of Services
* 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.
  • Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
  • Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
  • The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.
Page loaded in 0.069 seconds.