My Best Option?
Date: Thu, 05/07/2009 - 11:29
I have 8 credit cards, 3 are 1 month late, 1 is 2 months late, and the other 4 are not late but will be later this month. It equals out to about $13,000 total.
Do you all think i should try to handle this myself , or is a consolidation worth trying.
Someone from Superior debt services talked to me yesterday about settlements but i am a little uneasy about it because though i am late on my cards im not THAT late. She said she estimates being able to save me about $6000. I would pay $211 per month and that was their fees and settlement payments rolled into one for 36 months unless i could add extra money then it would be done sooner, But again i am aware that most companies wont think of settling until i am MUCH further behind ( something she didnt talk about)
Any advice would be appreciated.
Thank you
Do you all think i should try to handle this myself , or is a consolidation worth trying.
Someone from Superior debt services talked to me yesterday about settlements but i am a little uneasy about it because though i am late on my cards im not THAT late. She said she estimates being able to save me about $6000. I would pay $211 per month and that was their fees and settlement payments rolled into one for 36 months unless i could add extra money then it would be done sooner, But again i am aware that most companies wont think of settling until i am MUCH further behind ( something she didnt talk about)
Any advice would be appreciated.
Thank you
If you can afford a DMP with a non-profit consumer credit counse
If you can afford a DMP with a non-profit consumer credit counseling company do it before settlement. You may not be quite 90 days late yet but it appears you are overextended and will be eventually anyways so debt settlement is probably your best option at this point.
Thank you for your advice, i am going to look into DMP
Thank you for your advice, i am going to look into DMP
Cool . Just be sure you do a budget to make sure you can afford
Cool . Just be sure you do a budget to make sure you can afford the payment for a DMP. If you can't afford a debt management plan than you may want to consider exploring the option of debt settlement.