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I was in a bad car accident; and was unable to work - the drs cleard me 13 months later. Now that I am working again - I want to clean my cc debt. However after 1 year and 1 month the interest charges and fees have gone completely out of control. What should I do? Contact the 4 cc card companies or 1 of many collection agencies, where is the best way to start - I want to do this right the first if there such a thing.

Thanks & take care,

Check your credit report and find out the status of the accounts. If the accounts have been assigned to the CAs, then you'll have to deal with them. If the accounts have not yet been assigned to the CAs, then you'll have to work with the creditors. Negotiate with the credit card companies/CA's to reduce the total debt amount.

You can check out the following link to know about the steps to settle debt:

Sub: #1 posted on Fri, 03/02/2012 - 19:56

ditchdebt ditchdebt

(Posts: 679 | Credits: )

CC companies usually charge off accounts after 90 to 180 days from the date of payment delinquency. Since you haven't made a payment in a year or more, there is a high probability that you might have to deal with collection agencies.

Sub: #2 posted on Fri, 03/02/2012 - 22:36

StevenDoyle StevenDoyle

(Posts: 199 | Credits: )

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