New And Need Advice / Help.. please
Date: Sat, 03/31/2007 - 04:57
I have about 23,000$ of credit card debt. This is a combonation of 4 different accounts - Amex, Citi, Providian & Juniper..
I have my own business, and have really been struggling for quite some time, leaving only one option.. charge charge charge..
Up until the last 4 months, my credit has been really good (as far as making payments on time etc..)
I need to figure out how to get out of debt, the fastest and most efficient way possible.. I have cut up all my cards about two months ago.
How can i handle my debt?? Settlement? If so.. how do i choose a reliable company.
With new job prospects.. I am thinking that i can afford around 350 / mo in payment. Any advice is greatly appreciated by myself and my future wife. Thank you in advance
Spam, What state are you from? Have you contacted the creditors
Spam,
What state are you from? Have you contacted the creditors themselves and try to work something out? Sometimes they will work with you so it does not end up in a NO win situation. It does not benefit them either to let the account go to collection. I would approach them first and see what can be worked out as far as lowering payments, closing the accounts and coming to a good outcome. If you have been a good customer, they may decide to work with you. goodluck.
Others will come along and post other suggestions, keep checking your post because we all have different opinions on how to handle situations.
Thanks, Im in CA. i just dont know what to say to the creditors
Thanks, Im in CA. i just dont know what to say to the creditors.. i have read so many "horror" stories across the web about personally contacting creditors. this is so stressful.. but i got myself into it and im going to get myself out of it.. just need a little help
Bottom line is that they will want their money, contacting them
Bottom line is that they will want their money, contacting them the first time will be stressful, things will calm down after that. Just make the call and get over with. You may be surprised at their response, they may close the account and let you make the smaller payments. Tell them that you have every intention of paying the account, you just need some breathing room and some reasonable payment plans to get it done. Most creditors are willing to work with consumers at this point. It is easier for them to work one on one with you and keep the account out of collections. Give it a shot, what do you have to lose. Goodluck and keep us posted. Stay positive, it will all work out.