Debtconsolidationcare.com - the USA consumer forum

Forums
  • Latest topic

HELP!!! where do I start?

Date: Wed, 01/20/2010 - 13:48

Submitted by roseanne roseannes
on Wed, 01/20/2010 - 13:48

Posts: 6 Credits: [Donate]

Total Replies: 3


:)Hi everyone! I'll give you a quick synopsis of our situation. We have approximately $24,000 worth of cc debt with various creditors, 11 to be exact. We are currently 6mos. behind on all. My husband, our sole provider, was out of work for about a year. We kept paying our bills till the money ran out. He has since found a job(thanks be to God), but earning half of what he was making. We can survive on his salary, but cannot pay the cc bills. So my question to you all is what is the first step in trying to negotiate with my creditors. Is there a letter to send? Do I call? Am I able to negotiate to monthly payments on all or will I have to save $ and settle in a lump sum as with a debt settlement company. Any and all advice would be greatly appreciated as the calls from these folks are daunting to say the least.


If your cc are 6 months behind, they have probaly been charged off. They most likely have been sold. First you need to get a current copy of your credit reports and see what the damage is. Second, figure out how much you can afford to pay each card. If you want to pay them do it one at a time. If they are sold to collection agencies, start your debt valdiation paperwork. After you know if the cards are charged off or not and if they have been sold we will know were to send you. If they are charged off, any payment will not help your situation or credit score. Good Luck keep us posted.


lrhall41

Submitted by mont_tatum on Wed, 01/20/2010 - 15:18

( Posts: 114 | Credits: )