Credit Card Debt
Date: Tue, 06/19/2012 - 10:09
I owe $21k in debt to Chase for a credit card. I can only pay $200- and I am told this is not enough of a payment. My account has been charged off and now I am in collections. THe collection company wants me to get a home equity loan. I do not want that option. My husband and I do not make as much as we used to and that is why the payment needs to be lowered. What should I do?
You have to deal with the collection agency. This much is certai
You have to deal with the collection agency. This much is certain. You have to gather money from somewhere. You need this money for settling the debt. You can consider enrolling into debt settlement program.
You owe $21k and they want it paid off....they dont want to be d
You owe $21k and they want it paid off....they dont want to be dealing with a long term payment plan. Plus they could end up suing you.
Maybe look at settling with them....a basic seach shows they are settling for 25-40% which could save you a ton of money. A debt of $5000-7000 with a home equity line of credit would be way cheaper than paying on a $21k debt.
