cc debt
Date: Thu, 08/12/2010 - 18:58
Submitted by ronald sondergaard
on
Thu, 08/12/2010 - 18:58
Total Replies: 8
the cc are probably written off.....i have thoughts of doing debt settlement myself, talking to them, and making offers on settlement when i can,,,,it will take about a yr if i can get everyone to accept 40%....
is this a good idea, ????
ronald, first pull a copy of your credit report and check the de
ronald, first pull a copy of your credit report and check the details of all your accounts on your credit report. Then contact the creditor or collection agency as required and negotiate settlements. Once the creditor or collection agnecy whoever you are settling with agrees to the settlement, get the agreement in writing. Debt settlement generally lowers the outstanding debt amount by 40-60%.
thanks..i have had a couple of offers sent to me.....but i was n
thanks..i have had a couple of offers sent to me.....but i was not working,,,start working next week , at 800 a month, i should be able to settle 23000 with 9000, ,or going to try tooo.
what should i tell the creditors,,,that i only make $13 an hour, and cannot carry that debt, and was overexetended?
It's best that you speak to your creditor and explain them your
It's best that you speak to your creditor and explain them your situation. Communication holds the key. They might not agree to your settlement amount at first but if you stick to your story and negotiate with them, they might eventually agree. Get the settlement agreements in writing. Ask for a good well extended payment plan. Best of luck
Talk to your creditors or to the CA who has your account now. Le
Talk to your creditors or to the CA who has your account now. Let them know about your situation. Be honest and clear. Stick to your offer. You might get a good deal. Keep us posted.
Quote:Originally Posted by AnonymousIt's best that you speak to
Quote:
Originally Posted by Anonymous It's best that you speak to your creditor and explain them your situation. Communication holds the key. They might not agree to your settlement amount at first but if you stick to your story and negotiate with them, they might eventually agree. Get the settlement agreements in writing. Ask for a good well extended payment plan. Best of luck |
Do this as well.
Do the following when you are ready:
1) DO NOT pay anything until you have a settlement offer in writing, and make sure you have the money set aside to settle.
2) DO NOT give any access to your banking account.
3) When talking to them get a physical address to the settlement/payment department. DO NOT send to a PO Box
4) Only send them a cashier's check or money order, not a personal check.
5) Make copies of everything you are sending front and back, and put it in your files for ever, because they will sell it off or some company will try and claim it years later, this way you can make copies and send it to them proving you settled in full.
6) The "Payment received by" date on the settlement offer letter will be only a few days after you receive it so be ready to send the payment FedEx overnight next morning delivery signature required. Check your tracking number the next day, you can see and print when it arrives and who signed for it (put this in you file as well. I try to get the check their a day early so they can't say it didn't arrive on time.
how do ya know if your credit cards are handed over to collectio
how do ya know if your credit cards are handed over to collection....?? i talked to elc, i think they take care of my desert schools card, not sure if they are collection agency or part of desert schools.....they asked about settlement...its $2200 ....how much should i ask to settle for......not very good at this, but sort of needed coached on how to handle these people.???
i had belonged to care one debt management, with parcels and associates.....they would in the end charge me 16000 for settling 22000 , and 5 yrs at 237 a month......seems expensive
Hi Ronald, you can settle the debt yourself...you do not need to
Hi Ronald,
you can settle the debt yourself...you do not need to pay someone to do it for you. just get your report and get organized....follow the advice on this board...!!! It is expensive to have a debt management company settle your debt .....especially when you can do it yourself!!! the above suggestions and advice are great especially if you are dealing with long overdue or collections accounts!!!