Where to keep money for debt consolidation?
Date: Fri, 05/14/2010 - 23:14
I am new to this board. I am trying to formulate a debt settlement plan on my own. Can anyone share where they kept their settlement funds when they while they were waiting for their accounts to age enough to have the accounts settle?
Thanks,
Susan
I have a joint account with my mom and she is primary on it. She
I have a joint account with my mom and she is primary on it. She has a different last name and I think it would be hard for them to find this money. I would for sure put your funds in a seperate account. When it comes time to settle only have the amount in that account that you are giving to them. Just so they only can take that amt. My account with my mom has a savings attached to it. I keep the bulk in the savings and then when I do a settlement payment I transfer it to the checking. This so far has worked well.
just make sure your bank account isn't the same place as any of
just make sure your bank account isn't the same place as any of your debt's, in regards to settling or paying the original creditor. When settling with anyone else, never give out bank info.