what are my options?

You have options, take the free consultation on this site. I'm doing debt settlement on my own, research and read about that, you can do that on your own and will actually have more money to work with if you do. You also may want to consult with a bankruptcy attorney and see what your options are there.

Everyone has a different situation and what works for me may not work for you. Do you see a light at the end of the tunnel or are you just digging deeper. You can not borrow your way out of debt and sometimes you just have to take your bath while the water is warm.

Hey thanks for the info. I've been thinking about doing it myself but I heard I can be sued and they can take my house. Is that true? And yes, I do see light at the end of the tunnel. Thanks for the link.

With debt settlement there is a possibly of being sued, but if you sign up with one of the debt settlement companies you CAN still be sued, and they don't usually offer any type of legal assistant. So if you do this yourself you can possibly save on fee's and settle more of your accounts quicker. So it really depends on how you feel you can handle the calls and working with them or if you feel more comfortable going with a DS company. If you decide to use a DS company, please make sure you research them on these forums as well as the BBB. I have settled two accounts myself so far and you can read about my journey, some of the calls and what I was able to settle these at on my blog.

Also - if you do get sued, you can always try and work something out before going to court, and they can't take your house - but possibly put a lien on it which would have to be taken care of before you sell. Currently I have two cards that I haven't paid in 9 months and haven't seen any intent to sue paperwork yet, and my balances are high 27K each. The lower the balances on your cards the less likely they will sue as it costs them alot of money to take you to court and they would rather settle than go that route.

Thanks alot u guys for the advice. At 1st I thought the only way out was working with DS companies until I read your blog, jb2007, about 2 weeks ago. You inspired me to find out how to do it myself. This website is great. Are there any blogs on how and where to start? Should I call my CC companies and tell them my situation your just stop paying them and start saving money? Thanks again, I really appreciate all the help and advise you guys have given me.

Great! Glad my info could help. You might want to try checking the Do it yourself page at the top, listed under the ranking charts. And you could always call them to see about lowering your rate, or helping you reduce the payment. But in my experience they won't work with you on a settlement unless you stop paying them. I had stop making payments for two months and still didn't qualify for a settlement offer. It wasn't until about 4 -5 months that they started making settlements. Keep in mind you need to have all the funds available to settle. They will usually only accept or let you pay it over 90 days. And make sure this is the best option for you. Sometimes it is better to try debt consolidation. Settlement does have it's own pro's and con's and you need to weigh them both carefully and decide what's best for your situation.