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deep in debt

Date: Wed, 02/04/2009 - 13:54

Submitted by anonymous
on Wed, 02/04/2009 - 13:54

Posts: 202330 Credits: [Donate]

Total Replies: 3


I was paying all of my credit cards on time until I decided to enroll in a debt management program with my credit union. I thought that it was time to close all of my cards and just focus on paying them off. It all started down hill when the financial couseling people and the banks had miscommunications regarding the amounts due and the due dates. As a result my credit is way worse than before I started the program and I have recovered from the mountain of late fees and such.


I think that you should go for debt settlement program, because you have huge debt which you are not able to repay. Under debt settlement you need to pay only 40 to 50% of the outstanding debt amount. However, I do not think that it will improve your credit score much, but will definitely save you from judgment which may be brought against you by the creditor to recover the debt.


lrhall41

Submitted by jstn.credit on Wed, 03/04/2009 - 04:41

( Posts: 139 | Credits: )


Debt Consolidation is better than debt settlement as it does not hurt your credit as much. There is a ranking chart above that will list debt consolidation companies by state. Please let me know by PM if you are solicited by PM or IM from any poster on this site trying to sell a settlement progam for a particular company. You can also get free counseling by going to the free counseling link!


lrhall41

Submitted by Frogpatch on Wed, 03/04/2009 - 04:48

( Posts: 5381 | Credits: )