how do i reduce the outstanding balance on my bills?

Well, I would like to know what kind of bills do you have and how much if you don't mind me asking. Are these credit card bills or do you have payday loans, secured or unsecured loans along with the cc bills? Do you owe more than your income? If you have signed up on this message board, someone will be contacting you soon to discuss your options.

Tell me more about your unpaid bills and I can see if we can all help.

4 debt reduction strategies:

Make timely and full payments.
Or
Consolidation.
Or
Settlement
Or
Bankruptcy

The credit ratings stand at the best if you are making timely payments to the creditors. You won't see your outstanding balance rising higher if you manage to pay in full within the due dates.

Consolidation is one of the debt reduction programs in which you pay the principal amount along with interests at lower rate. Some of the late payment fees are waived off once the counselor negotiates with the creditors.

Settlement is a program by which you can have your total balance settled by 40% to 60%. This is useful for especially those look out for credit card debt reduction services.

If none of the above options work, bankruptcy is to be the last choice. But make sure that you have tried all other avenues before considering this plan. It will stay in your credit for 7 to 10 years and you will have to re-build your credit from the beginning after the unpaid accounts are discharged.

Always use Bankruptcy as the very very last choice!

HI.
Can you tell me the number of bills due neccesary that is when the bank turn the debt into a debt collector s hand?

Hi Mauro,

There's no such limit to the number of bills due. The bank can send your debt to a third party debt collector, if they feel they'll not be able to recover it from you. The debt collector or the collection agencies buy the debt from the bank and try and collect as much money from you as possible.