credit card debt

A counselor will be calling you soon and discuss on your debt accounts. Get all your monthly statements and account details in hand so that the discussion takes place properly.

Thank you!

Since the total amount of your debt is quite large, I feel a settlement program will be suitable for you at this stage. Your debt will be reduced by 40% to 60% and the counselor will negotiate with the credit companies for this reduced balance.

If you are not sure about how a settlement program works, read this page for an overall picture. You will get an overall idea.

http://www.debtconsolidationcare.com/debt-settlement.html

You can decide with the consultant what will be the best option for you. Consolidation program will take a longer time to eliminate this debt, I believe.

I'm not so comfortable with a settlement program. I earn a high salary >$150,000/yr and I have not missed a payment or bounced any checks. I just don't like having such credit card debt over my head and would like to have an intelligent program to eliminate my credit card debt within 5 years with reduced interest rates. My wife (separated) is going back to work Sept 1 and makes a high salary as well and will contribute to our Equity and mortgage debt so I have more income to apply towards my credit cards.

Way to go since you are financially stable. Consolidation will work the best for you since you can afford the monthly payments. Talk to your counselor and frame the payment plans accordingly. My advice will be not to extend the tenure of the program for long. Time and health can never be predicted in advance. Just my thoughts! See the benefits of the consolidation program here.

http://www.debtconsolidationcare.com/benefits.html