Drowning in CC debt please any advice
Date: Thu, 08/05/2010 - 16:55
Hi...
If anyone could advice me what would be the ideal solution for what i'm dealing with here.
I am currently dealing with over 16000 in CC debt not including my 7000 student loan.
I am not late or in default with any of my bills but paying the monthly min is not helping.
I was considering some kind of settlement but from what i gather from reading about SQ1 that sounds like suicide. I'm not sure consolidation would work i just don't want to take out any kind of loan to pay these bills because that would not make any sense, jumping from the pan into the fire so to speak. Also my credit is not good at all.
My ideal solution would be if i could combine all my bills and pay just one bill each month 400-450. Any help would be greatly appreciated.
Regards
If anyone could advice me what would be the ideal solution for what i'm dealing with here.
I am currently dealing with over 16000 in CC debt not including my 7000 student loan.
I am not late or in default with any of my bills but paying the monthly min is not helping.
I was considering some kind of settlement but from what i gather from reading about SQ1 that sounds like suicide. I'm not sure consolidation would work i just don't want to take out any kind of loan to pay these bills because that would not make any sense, jumping from the pan into the fire so to speak. Also my credit is not good at all.
My ideal solution would be if i could combine all my bills and pay just one bill each month 400-450. Any help would be greatly appreciated.
Regards
Without getting too deep into your business, could you let us kn
Without getting too deep into your business, could you let us know how many cards you have and what their balances are?
Also have you ever deferred your student loans in the past for any reason?
If your credit is already crap then settlement won't hurt it any
If your credit is already crap then settlement won't hurt it anymore. It will actually put an end to the negative information on your report and you get to start from scratch and rebuild good credit. Just my thoughts since you do have to have the money to settle.
Let us know who the creditors are and we can help you with the typical percentages they will settle for to give you an idea on how much money you would need if you were to settle.