I have about $6000 in cc debt. Any advice for me?
Date: Fri, 01/05/2007 - 05:32
All help is greatly appreciated.
Welcome to the forum trey! A debt counselor should be contactin
Welcome to the forum trey! A debt counselor should be contacting you shortly to discuss your situation and the available options.
You can always approach your creditors to see if they will settle your account for less than the total amount owed, but if you're not behind on payments and have a decent payment history with them, they probably won't be too receptive to working out a settlement.
One good option would be to enroll in a debt consolidation program. You'd have one low monthly payment, and in most cases, interest rates are lowered and late and/or overlimit fees are stopped. The debt consolidation company you work with would act on your behalf and disburse the monthly payments to your creditors until you finish the program. This option also helps your credit rating by showing that you're making payments on time.
Call your creditors and see if you can negotiate on your own. Ge
Call your creditors and see if you can negotiate on your own. Get help from the DIY section in this website. It has some good tips about tactful negotiations.
Are you behind in your payments? Take the counselor's advice if you find hard negotiating with your creditors.