Whick way to go? consolidation or??
Date: Wed, 04/28/2010 - 13:59
My wife owes 23000 in multiple CC, we are paying 600.00 per moth on minimum payments the balance still the same over a few years, our APR's are in the 20 and 25 % We dont want the credict cards any more..What is the best way to pay this debt?
Reading your statement,I find out that the best option for you w
Reading your statement,I find out that the best option for you will be the debt settlement program.In this program your total balance is cut down short,that means saving you a lot of money.You can search in Google and find out the companies that deal with debt settlement but make sure who ever you choose it should be a legitimate law firm and should be associated with Better Business Bureau with good rating.
Quote:Originally Posted by serg873My wife owes 23000 in multiple
Quote:
Originally Posted by serg873 My wife owes 23000 in multiple CC, we are paying 600.00 per moth on minimum payments the balance still the same over a few years, our APR's are in the 20 and 25 % We dont want the credict cards any more..What is the best way to pay this debt? |
What exactly you are looking for? Are you want to lower down your interest rate or you want to pay a part of your total debt amount. Because then there will be 2 options for you. At this present moment which is more important for you? To pay of the debts or your credit score? These are few questions you need to think before you move forward. :confused:
Quote:Originally Posted by serg873My wife owes 23000 in multiple
Quote:
Originally Posted by serg873 My wife owes 23000 in multiple CC, we are paying 600.00 per moth on minimum payments the balance still the same over a few years, our APR's are in the 20 and 25 % We dont want the credict cards any more..What is the best way to pay this debt? |
Here's my opinion for what it's worth;
In order to destroy the debt, you both must take ownership of it.
And that's regardless of who ran it up for whatever reason.
I've done stupid things in the past and this cc thing is at the top of the list. Looking in the mirror made my epiphany. No More!
Credit cards by the name of Mastercard (I'm the debt slave) and others.
I did a preemptive strike and quit paying all of them at once. This really was my toughest decision to make. The logic then was to let all of the cc's see that I was in trouble.
The calls started witing a week of not paying. Return the calls. Stick to your story and before you know it......you've started receiving settlement offers.
Again, read, read and then read some more and you can do it!
Good Luck.
Keep us updated.