Debt Settlement, how to do it with not much extra money?

Here are some resources which will help you in settling your debt: -

How to settle your debts yourself and simplify your life

Debt settlement - How to get rid of debt without bankruptcy

Debt Solutions - 3 steps and 6 ways to do it

Not having the ability to save each month in order to settle your debts defeats the purpose of debt settlement. In my opinion you need to be able to save enough to settle all of your debts, assuming that you will need 50% of what you owe, within 2 years. If you cannot save 50% of what you owe within 2 years or less you risk the chance of getting sued or your wages being garnished.

It sounds to me like your best bet is either debt consolidation or debt management. And as a LAST resort, only if those do not work, bankruptcy.

Good luck to you.

i agree with indebt, you are going to need the funds available when they are ready to settle. Most companies wont set up a payment plan and that kinda defeats the porpouse anyhow. Somehow you will have to be able to save, or find another outlet to your debts. Even without paying these debts you dont have any extra? If you are not paying the cards now and dont have enough to put back, you may need to consider bankruptcy because you wont be able to afford the consolidation payment.

To add to this, with debt management (also called interest rate negotiation) your monthly payment would be close to your normal monthly payments, the main difference being that you would actually be spending more (sometimes quite a bit more) toward the principal, and hence getting out of debt faster.

But, honestly, money for debt is not "extra" money. The money *after* you pay *all* of your bills is extra money, often called discretionary income.

Hope this helps.

chrys

You can register yourself at the sign up page
https://www.debtconsolidationcare.com/free-consultation and get in touch with the financial coach in your locality if you wish.

Are you making payments on your cards now?? I work with a debt settlement co. and you make payments to your own account (Savings or checking) instead of paying your credit cards. *

* Promotional content deleted as per TOS - Jason

are you still paying your cc's? because the above post is correct, with settlement its best to stop these payments and start saving. So if your still paying stop and save. But if you have already stopped, and still cant save you may need a consolidation or bk, my ownly consern is if you stopped paying and cant save then you probably cant pay the consolidation payment therefore you will need bk. good luck