cc debt and debt settlement
Date: Tue, 12/08/2009 - 20:14
Submitted by ronald sondergaard
on
Tue, 12/08/2009 - 20:14
Total Replies: 8
Quote:Originally Posted by ronald sondergaardi have 22,000 cc de
Quote:
Originally Posted by ronald sondergaard i have 22,000 cc debit..if i use debt settlement..it will take maybe 2 years....can i let the cc companies go that long before i settle..??? |
See, settlement is a proven solution to debt problems. You can get your debts significantly reduced by going the route of debt settlement. However, whether or not the creditors would wait for two years would depend both on the creditors and the settlement company that you have hired for the purpose. If the settlement company can negotiate successfully with the creditors you may soon find yourself out of debt problem.
doing it myself
i mean when i do it myself,,,the money will not come in too fast,,but will some of the creditors..the big ones...wait for 1.5 yrs.
Good Question When I have talked to debt settlement companies
Good Question
When I have talked to debt settlement companies
their program is ususally 2 years to 4 years. And they say very few people who hire a debt settlement company get sued- I think one company said about 1% (I dont know if this is true or not) . I am going to do it myself as well - thanks to the help of this fourm . But my question is if you do decide to their program is ususally 2 years to 4 years. And they say very few people who hire a debt settlement company get sued- I think one company said about 1% (I dont know if this is true or not) . I am going to do it myself as well - thanks to the help of this fourm . But my question is if you do decide to do it yourself do you think the creditors will wait 1 year to 3 years ? Do you think creditors will wait just as long as if you were enrolled with a debt settlement company?
Creditors will not wait 1-3 years. They will chargeoff after ap
Creditors will not wait 1-3 years. They will chargeoff after approx. 180 days and sell to collection agency. You could probably put of collection agencies for some time.
i was in a 2 year program got sued by 1 citibank, and they were
i was in a 2 year program got sued by 1 citibank, and they were the most ruthless at the time. all most all my accounts were settled between month 6 and 12. but a few stuck in there. But its a gambling game in all honestly. But you up the stakes by constant communication and saving and keeping them updated as to whats going on. but there really cant be a definate answer if you will get sued or not, it all depends n the creditor but after 2 years you are starting to raise your chances of getting sued. your best bet is to pay off and settle as fast as you possibly can afford weather you need to sell stuff, get a second or third job whatever every dollar counts and adds up. good luck i hope it all worksout for you!
i have chase that was on care debt consolation,,,2 accounts were
i have chase that was on care debt consolation,,,2 accounts were not accepted on proposals....they were in chase collection....but i was making payments to them every month...
so how does one start the debt settlement...how do you initiat the start of this to the creditor...? i think i got a job ,,,,it will give me $750 dollars a month...to deal with 20,000 of debt...i am going to try to keep my desertschools federal credit union card
If you need help in doing debt settlement by yourself you can ch
If you need help in doing debt settlement by yourself you can check with the DIY corner.
Regarding the creditors waiting for settlement, it would depend upon who you have for creditors. Some creditors are easier to deal with than others and vice-versa . Also, there is no guarantee that the creditor would agree to the settlement proposal of the company. There are instances where people have got sued by their creditors even when they are in a settlement program.
being sued
they probably sue folks with assest...all i have is my things in my apartment,,and that is not much....would be basically free from being taken under the arizona bankrupty laws....be a waist to time sueing someone that has not monetary assessts..