Credit Card Debt Settlement

Whether or not a creditor or collection agency can garnish your wages depends first on whether or not you state law permits it. If your state permits wage garnishment, your wages can only be garnished (I'm assuming this a consumer debt and not for taxes or student loans) with a court order. Not paying your bills increases the chance that you will be taken to court and have to pay the creditor's attorney fees and court costs in damages.
This is scary, but I think it's important to warn you of the risks.

A friend of mine was in the same situation, I helped him settle his credit card debt but it took almost a year. We didn't even begin attempting to settle until his debt was past due by at least 90 days. We tried to reach a compromise before it came to that but they were not willing to make payment arrangements and the interest kept piling up to the point he was ready to file BK. Luckily, after numerous letters and phone calls, we settled with 3 credit card companies and 1 creditor. These were business related debts he owed. When the economy started taking a dive so did his business, it had nothing to do with irresponsibility on his part.

My advice is to stay in contact so you will know what's going on and how close they are to turning the debt over to collections, keep copies and a journal of all communications. When you speak to someone, ask their name and employee ID (if applicable), note the date, time and person you are speaking with and the subject matter you discuss. Every settlement offer you send, send it certified, keep copies of EVERYthing.

Hi,

I was in a similar situation I had up to $100K in credit card debt and paid $2500.00 every month just to reduce the interest. Then I contacted a debt settlement company called fcsettlements and they helped me reduce my debt by 50% and paid only $1000.00 month for my payments. My interest stopped accruing and even though it took at least 36 months to get everything paid off, I am saving money and paying off the debt. It was the best decision I made in my life. If you are interested you can contact this company they will help you too. I think the website is www.fcsettlements.com

Wish you the best,

Kim