debt payment

First let me say - Welcome and you can do this. Most of us on this site have been right where you are. I know I was in a very desperate situation myself but have taken control. Now I am seeing the light at the end of the tunnel.

Maybe if you could give us some more information on what types of debt, the amounts. Are you up to date on the payments or have you defaulted. Credit Cards? PDLs? House? etc...

With this information, the knowledgeable people here might be able to help you a little better.

Congratulations on taking the first step.

As Spatterson said above, welcome to the community and congratulations on taking the first step: Admitting the problem. There are good folks here to help you, as much or as little as you want. And make no mistake, the advice you'll get here does work. I wasn't in serious debt when I got here, but I've seen my credit score come up more than 100 points by applying the knowledge I've gained here.

Give us a run-down of where you're at financially [no personal information, please!] We'll do what we can to help you get started.

Welcome :sun: !

Where to Start? BUDGET first, PLAN next, ACTION in motion...

I always recommend that you first get some debt counseling. Debt Counseling will give you a better idea on different programs that are currently available, service levels and savings.

A brief breakdown of some options and the negatives and positives of each:

1. Consumer credit counseling -
negative: Very harsh blow on credit, takes 5-7 years, still pay interest, small payment reduction

positive:Get out of debt sooner than the route you are currently on and creditors harrassment ceases in most cases, fees absorbed by credit card companies and passed on to you through interest.

2. debt settlement
negative: fee involved 12-18% of total balance, affects credit report temporarily and then heals itself as creditors are satisfied, be sure to go with legitimate company where you can track your savings and where it goes.

Positives: Cut your monthly payments usually by 50%, Save approx. 40-70% overall including fees, get out of debt in as little as 12 months to 48 months, creditor harrassment ceases in most cases.

If you are a do-it-yourself-er, then the there are many good ideas in the Do It Yourself portion of this website. Just like anything out there, car repairs, divorce lawsuits, plumbing...we can all do it ourselves with enough research. But, most consult professionals that have the expertise in a particular area. There are alot of credible companies out there and there are alot of companies jumping on the bandwagon to turn a few bucks. Find a reputable, service driven company that is strictly regulated by TASC and in compliance with all state and federal laws. Also look for a backoffice in which you can always keep track of all transactions.

I hope this helps!

gr8 work sanbaugh..