debt settlement is it before fees attached
Date: Tue, 03/02/2010 - 14:11
Hi, I am beginning to settle on my husbands debts. But I was wondering are these 30-40% you are talking about the total debt with all late fees, penelties, etc, etc. Or is it the balance when the debt became late. Because it looks like people have gotten great settlements but if all the fees are still attached how much are they truly getting taken off.
thanks
thanks
The settlements are for my x-husband who is 75 years old and ill
The settlements are for my x-husband who is 75 years old and ill. He would like to settle with most of his credit cards and not have me go through having collectors calling all the time. Just on fixed income but might be able to borrow some from children.
Quote:Originally Posted by AnonymousHi, I am beginning to settle
Quote:
Originally Posted by Anonymous Hi, I am beginning to settle on my husbands debts. But I was wondering are these 30-40% you are talking about the total debt with all late fees, penelties, etc, etc. Or is it the balance when the debt became late. Because it looks like people have gotten great settlements but if all the fees are still attached how much are they truly getting taken off. thanks |
30-40% is of the total debt including all fees your mentioned. Lets just say you owe $10,000 it goes to $12,000 and you settle for 30% or $3,600. You owed $10k paid $3,600 still $6,400 ahead. Pretty good savings.
