What should I do now

Your number one option right now is to sign up with this site and speak to a counsler and see what their suggestion to u is! In the past my hubby went thru a debt consolidation place and the phone calls stopped and it didn't affect his credit all that much after a while...
If you're feeling hopeless, you've come to the right place for support and advice!
Much Luck,
Ang

I did go through this site and they recommended the settlement company to me. Now I'm second guessing my decision. Just doesn't feel right to hang onto debt for that long without doing anything about it directly.

Mind sharing how much ur debt is?? I'm really not all that familiar with settlement programs, sorry but i'm sure there's someone here who knows more about it than I.
But i DO know it's gonna be ok guest... things WILL work out, that i promise u!
Ang

Total is about $20,000 unsecured.

Consumer Counseling told me they could work with a payment of $570 per month...which is about the minimum amount of the credit cards right now...an amount I can't meet each month.

Have u looked into debt consolidation?? My hubby had over $20,000 and paid it off in 3 years...
Ang

So the problem is u can't afford that payment each month?? Now dont' forget u will no longer have all those credit card payments. It will just be teh one payment.
Is it impossible to do?
Ang

If the one payment is $570, it's impossible. If it's spread over 2-3 payments that total $570, it's impossible.

What do u feel comfortable paying per month?? I'm racking my brain here trying to come up with suggestions for u.
Ang

I'm currently giving $300 a month to the settlement company, I may be able to squeeze another $100, but $400 is about as high as I can go.

And how much is this settlement co charging u?? Do u own a home? ALso, what state r u in?
Sorry i forgot about u already being in a program...
Ang

And how much is this settlement co charging u?? Do u own a home? ALso, what state r u in?
Sorry i forgot about u already being in a program...
Ang

I own a home, but can't refinance on it. I'm in virginia.

Have you talked to a rep at the settlement company u are with to see if they can go lower with the payments & extend the payment term?

Just a suggestion....did you look into debt management instead of settlement. With settlement I believe they save up the money and then try to make a deal to pay it off. With a management program they make arrangements with each creditor..who then in turn usually drops late charges and lowers interest in most cases. The amount you pay is figured out on how much you can afford after all living expenses. You pay the same each month and as the smaller amounts are paid off that payment then goes to the next highest,etc. I am paying off a little over 7K in 12 months that way.

Who are you dealing with for management?

And are the creditors still contacting you, or are they satisfied with the arrangements you've made wth teh settlement company?

Guest, the creditors I put into the program have stopped calling me once I told them I was in a program. Discover was good & took all my info for the consolidation company and has called them. Chase wouldn't take the info but she would note my policy (the rep at Chase). The calls have stopped from them too.

I won't find out if they are happy with the proposals the consolidation company made until later in the month.

Yes that's a good thing about getting enrolled in a settlement program, you wont be bothered by the creditors anymore.