60,000 in debt. Is Debt Settlement the way to go?

Date: Tue, 05/03/2011 - 06:22

Submitted by anonymous
on Tue, 05/03/2011 - 06:22

Posts: 202330 Credits: [Donate]

Total Replies: 2

I have managed to rack up 3 different credit cards totaling $58,000 in debt, and I really need advice on the best way to handle my terrible situation. I spoke with a company that handles debt settlement, which from what I gather, my credit score will drop about 100 points, but this can get taken care of faster. Does anyone have any advice on this?

Are you current on your payments or have you already missed some

Are you current on your payments or have you already missed some? You may be able to deal with it on your own. Which companies are your accounts with?

lrhall41

Submitted by J L B on Tue, 05/03/2011 - 06:26

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In order to do debt settlement you must be delinquent on your ac

In order to do debt settlement you must be delinquent on your accounts. You can handle the debt settlement process yourself and save money. Many on here have done just that and have settled at 25, 30, 35%. There have been nightmare stories about debt settlement companies not contacting your creditors, leaving clients in the dark, and pocketing the money. You will pay a fee up front that you can use toward your settlement if you do it yourself.

Read the information under the DIY tab at the top. If you have questions or need help, just post.

lrhall41

Submitted by aubrey on Tue, 05/03/2011 - 06:52

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