How???
Date: Fri, 07/17/2009 - 23:24
Simply put, you stop paying on all your CC accounts. You put th
Simply put, you stop paying on all your CC accounts. You put the money you would normally send them in a savings account. After enough time passes, you can usually settle on a reduced amount. You need to know that your credit will take a huge hit. Every month that goes by, you will get late fees and interest charges. Some CC companies will increase your interest rate if you are late on a payment, so you need to take that into account.
There is a ton of information on this site and online on how to do this. Please please do the research before jumping into this.
Simply put, you stop paying on all your CC accounts. You put th
Simply put, you stop paying on all your CC accounts. You put the money you would normally send them in a savings account. After enough time passes, you can usually settle on a reduced amount. You need to know that your credit will take a huge hit. Every month that goes by, you will get late fees and interest charges. Some CC companies will increase your interest rate if you are late on a payment, so you need to take that into account.
There is a ton of information on this site and online on how to do this. Please please do the research before jumping into this.