My wife and I have a very good income (over 150K a year) and are getting killed on credit card debt. We owe about 50K. Between school payment for the kids, car payments and excess bills, we are getting by but barely due to the crippling monthly credit card payments which are close to 2,000 dollars a month.
On top of that we have debt with the IRS which we have to clean up and I do not want to go into my retirement fund as we are paying them back (about 40 grand). I have been advised to buy a house but we do not have any downpayment saved. We screwed up badly and just want to get out of debt.
We did credit counseling about 15 years ago and got out of debt only to get back into it. As of this point we know what we have to do as we have not used credit cards in months and I want to go from paying 2,000 a month to 1,000 a month in paying off the debt.
My question is what credit card consolidation company can I use on the internet or by phone that is reliable? I live in New York City and I do not want to have a face to face meeting. I guess I am embarrassed but I know we have to do something and do it quickly.
By signing up a debt counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
Some creditors and collection agencies refuse to lower the payoff amount, interest rate, and fees owed by the consumer.
Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.