We need help

I think that you should start with the lowest one and then slowly pay off the higher debts. You can either settle your debts yourself or register with a good debt settlement company. I think that it is better to try it yourself by getting in touch with your creditors. You may visit the link do it yourself debt settlement to know how to settle your debts yourself.

How much of a beating will our credit take doing this?

Settlement or debt management programs will both tank your scores..you really cant get around that.

settlement will always hit your credit hard for awhile as cc companies won't even consider settling until the account is seriously delinquent.you can use novice's plan in a different way.keep current,but pay eah debt off as novice advised,or you can try a DMP(debt management program).that will help establish a budget,payment plan,and keep your credit from taking the hit that settlement will.

Ok. I know it is no way around taking the hit on our credit. I was wondering which one is the easiest to recover from.

just so you are aware.you will lose the cards if you go with settlement or consolidation.a DMP you most likely will not.as long as you are aware of that.i personally would go with consolidation as that will be easier to build credit again sooner than if you settle.

Ok, thanks. What's the difference between consolidation and a DMP?

well.a DMP will take your debts and income and come up with a plan to pay the debt off.consolidation rolls everything into one monthly payment.usually almost 50% of your monthly payments now.

We tried to get a consolidation loan and we couldn't because of debt to income ratio. What are some good consolidation companies?

that is something that is out of my realm unfortunatley.if you contact mobile0311 he can point you in a good direction.

ok, thanks for your help.

Hello Guest,
I currently have my credit cards listed in a Debt management program. I found a local non-for profit company in my town from the nfcc.org website. They were actually pretty helpful and they list all kinds of information. I just pay one monthly payment to the program and they disburse to my creditors each month. It got my late and over limit fees stopped. I've even had some creditors lower my interest rate. Just an FYI as well, most companies will charge a monthly fee so make sure and ask about that. I have to pay $24 a month to my company, but they waived it for the first 8 months. They also allow me to pay more when ever I have the extra money so things can get paid off faster.

pinklady to the rescue.where and how have you been?

I've had a lot going on, I was so busy working two jobs and I started going back to school for my Masters. I decided I couldn't work two jobs and concentrate on school so I gave up my part-time job. I have a little more free time now

Ok, thanks.

I talked to a few dmp's today. They all gave basically the same info. My payment won't be that much lower than what I am paying now. Is there anything else that I can do?

If you are looking for a lower payment because you are overextended than your next best option will likely be debt settlement. Can you afford the payment with the DMP ?

Barely. It would be the same as what I am doing now. We are kinda scared of the debt settlement thing, but we really need help.

I can definitely understand your concern. Nobody like getting harassing collection calls and dealing with the threat of lawsuit , but if you do a fast enough settlement program your risks are pretty low and it sure as heck beats bankruptcy in most cases. Keep in mind you can always settle the debt on your own if you don't want to hire a company.

What are some good settlement companies?

Which ones are better?

hello

Which debt settlement programs are better?

Which ones have you researched?

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