I have 70,000.00 in unsecured debts

Welcome to the Community :D Are these debts credit cards, payday loans? If you can give us some info, we can give you a direction to look. Since you have registered, someone will contact you for your free credit counseling. They will discuss options such as consolidation, settlement, etc. All your unsecured debts go in one monthly payment a month. If you have any questions, please ask!..KAren

Welcome to the forum! If you entered all of your info. when you registered with this site, a debt counselor should be contacting you shortly for a free, no obligation debt consultation. they can discuss your situation and explain the options available to you.

With that much unsecured debt, they might recommend a debt settlement program rather than debt consolidation, but you can effectively choose what's best for your situation and what you can afford.

We too have that so I know how you feel. Don't give up. There is so much good information on this site. You have come to the right place. We are learning all we can before going into a settlement program. It's that or the next step will be bankruptcy and we are avoiding that at all costs. There is hope. Learn all you can about all of your options.

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70k. I can imagine how nervous you are right about now. Hopefully you are able to head any collections off at the pass. I know that there are several debt management companies and debt settlement companies out there. Be sure to do your research on anyone you think may fit you the best.

Debt Management- Helps to lower your monthly payments, interest and stops late fee's.

Debt Settlement- Helps settle your debt often for as low as 50% of the origional balance. This is not a minium monthly payment program. It usualy is where you put money into an account and a company contacts your creditors and attempts to settle your debts for you.

You may find yourself in the situation we are in. We can't do monthly payments on debt settlement program. We had originally been told that we could do debt settlement for up to 5 years. Now we are being told that that isn't true. It will take $1000-$1100/month for three and a half years to do debt settlement and I just cannot commit to that type of payment. But don't give up. I read one quote,"Trying to save your credit while getting out of debt is like trying to water your lawn when your house is on fire".

I used a debt settlement company it really helped!