cash for settlements

I had enough for about 25% settlement and ended up averaging about 30%. Because it took so much time to do, I gained the balance as I went along. But, obviously, it makes no sense to make cash settlement deals unless you have the money to pay.

I understand needing cash for settlements, but I guess that I thought most people were saving up month to month since they weren't paying their card payments. I was all fired up, but now I'm discouraged because they're telling me I need access to $65k.

They are also telling you that it takes 50% to settle. I settled all of mine in the upper 20%-lower 30% range. You really only have 2 choices: Bankruptcy or settlement. Look at both and make your decision. If you simply do nothing, some creditors will file suit and that will force your hand. Good Luck.

I did have some money to settle. Yes, you can save up the money you would have paid monthly to credit card debt while you are waiting to settle....it just depends on how much you can save. I settled a huge amount of my husband's debt ($100,000) for about $35,000....so that is pretty good. Some will let you make payments. Perhaps you could do a combo of hardship plans that let you pay the debt in full and settlement. Add up what you think you can save ....read these forum and all the info you can get here....read the threads related to cc settlement....keep reading and studying...You will find the answer...

can you borrow from family? Keeping you in my thoughts

Greetings "[URL="http://www.debtconsolidationcare.com/forums/member.php?u=227055"]tryingtobedebtfree[/URL] ",

I am confused with what they told you;

"I was just talking w/ someone at a DIY company and he told me they only take on clients that have access to enough cash to settle w/ their credit card companies.
In my case that's $65k since I owe $130k.

Since you have landed in this great forum....you too, can really DIY!
I say run away from those rascals....don't walk....run!

Let's face it...this is akin to a chess game when you start the settlement process.
Depending on the mix of your unsecured debt, you should be able to square it up for about 30%.

Will it be easy?
No.

Can you do it?
Yes!

Could you be sued?
It's a possiblilty.

Please tell the great folks in here (generalities only) to whom/how much/how late you are.

You will get great answers and then you can develope your plan of attack to destroy your debt.

Please keep us posted.
Regards,
King "Kash" Jabba Labba