getting tuff...
Date: Tue, 05/26/2009 - 17:16
First off let me say that I am happy that I came across this site... Seems that there are very informative posters on here, so hopefully one of ya can help... So here is my question. I have one large credit card balance approx $25,000 thru citibank. I have never been late paying any bills and my credit score is good. My wife had to quit working do to just recently having 2 kids, raising our total number of children to 4. With her not working its becoming a struggle and is the cause for the rising debt. If I could eliminate the current debt mentioned, it would free up around $500 each month. Soooo, would this be a good reason to try one of these programs? Oh, I guess I should mention that we are living check to check and really have no xtra money to try and save.
THX
THX
Are you making the minimum payments of $500 each month towards t
Are you making the minimum payments of $500 each month towards the cc debt? If it is so, you can go for debt settlement plan either by calling up your creditor directly or by registering with a good debt settlement company. Under debt settlement program, you can bring down your debt somewhere between 40 and 50% of the outstanding debt amount.
Debt settlement will adversely affect your credit score, but it
Debt settlement will adversely affect your credit score, but it is very difficult to tell how much will your score come down due to settlement. This is because, the reduction in score depends on the FICO algorithm which is not public.
