debt

Date: Fri, 03/27/2009 - 05:46

Submitted by wtushea
on Fri, 03/27/2009 - 05:46

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Total Replies: 2

i have 19000 in debt only 6000 of its open a student loan and a auto repo the rest are hosiptal bills that are in collections five can be paid off in full with 700 the other four 9000 and they are with the same ca i have 6500 whats the best way to go.

Hi wtushea, In your case, debt settlement is the way to go. O

Hi wtushea,

In your case, debt settlement is the way to go. Only the student loan does not have that option, you can't even get rid of those with bankruptcy.

Read the article I hyperlinked, send the debt collectors a settlement offer. Start with a ridiculously low figure, say 25% of the total. They will likely counter with something high, like 70-90%. Then you counter-offer with 30%, etc., until they agree.

Hope this helps,

chrys

lrhall41

Submitted by Chrys Henderson on Fri, 03/27/2009 - 22:05

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i agree with chrys,settlement is your best option unless you wan

i agree with chrys,settlement is your best option unless you want to file which should be your last resort. Negotiate like crazy!?? But your student loan is gov backed so you will need to pay this or they could and eventually would garnish you or your future refunds

lrhall41

Submitted by love_my_things on Mon, 03/30/2009 - 05:59

( Posts: 1434 | Credits: )