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Jesse Niesen
DebtGoToGuy.com
888-928-DEBT
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Jesse, I just added all of my credit card debt up and it totals $87,000.00. I have a clean credit record but I had no idea I had this much debt. My wife has a $50,000 401K plan and I have $12,000 in an old ira from years ago. I have another 401K program of over $250,000 so my question is this: should I take the 50K and the 12K and cash them out and pay off as much of the debt as I can? I know I will take a penalty but right now the interest I am paying along with the monthly payments must come to an end.
I have some big credit card debit ($70). Most of it is on low interest rates 1.99, .97, 3.99 and my monthly payments are quite low and manageable right now. I always pay the minimum plus the interest on each on every month. I have one other card that is 7.99. I have some savings (about $20.0) – should I use this to lower my debit and not have a little safety net or keep doing what I am doing. Whenever I have extra $$, I put it on my debt
What happens to 401k and defined pension plans in debt settlement? What happens to a rent house that should not sold until the market recovers? Thank you.
If you have a job that requires security clearances that check credit and “unsettled obligations” what is your best bet for getting out of debt if you mathematically cannot pay all the minimums?
I’m working with Discover with debt settlement. They say charge off will happen tomorrow and that if I want to settle they have to debit my account today or tomorrow. I do not want to give them access to my account – what should I do?
Just got served 2 citations demanding that I comply with the petition or show up in court within 30 days. The balances are 3300 and 6300 plus court costs (25%). I’m in louisiana, and my creditors have threatened before that they can go after my home because of laws here. I want to pay what I can and settle for 30%, but I’m afraid of what to do at this point. Should I correspond with their attorney only or show up in court and call bluff? My intent is to pay off without bankruptcy, but I need time.
i think iam in the 10% you speak of??
just awarded SSDisability; so i think i am “untouchable” regarding recourse from cc companies & banks…am i correct in thinking that i can low ball, just pick a fraction of pennies on the dollar??? as look as i document, remain deligent & put in the time…I will be debt free & hopefully “the normal process of credit repair”
SSDisability & Credit Card Debt…look for to your comments & guidance
Thx
Our auto loan is to be paid off in Sept and we can’t afford the lump sum. I tried calling capital one to make payment arrangements with them but they say there is nothing they can do. We were told by capital one that in september whatever the balance is will be in default and turned over to a collection agency and then we could make arrangements with the collection agency. I asked if that meant that our car could be repossed, and they would not answer. We asked if we continued to make monthly payments until the balance was paid off if they would take our car, person at capital one says “can’t answer that, it would be up to the collection agency”. So, what can we do? can they repo our car at that time? Our credit is bad and we are trying to pay our debts off, so I don’t think refinacing would be possible for us. We were just asking for a 6 month extension on this loan to be able to pay it off.
I have over 50k in CC debt after makeing some very nieve assumptions and decisions after a divorce. I’m about to enroll in a settlement program, but wonder how long my credit will be terrible. (I work in a line of business where good credit is a prerequiste for hire.) So, assuming I get the debt wipped out in 2-3 years, how long will it be before I get a decent credit rating and how will my creditors entries apppear on my report?
OK I HAVE A QUESTION…I HAVE 3 CREDIT CARDS THAT HAVE BEEN SENT TO CREDITORS BECAUSE I DID NOT HAVE A JOB FOR 6 MONTHS AND COULD NOT MAKE ANY PAYMENTS…IM NOT SURE WHAT I NEED TO DO. DO I PAY THEM OFF AND HAVE IT SIT ON MY CREDIT OR WHAT DO I NEED TO DO??
Hello,
I had 40k in credit card debt. I was living off of credit cards after losing my job. I started my own business, which is still struggling. I had good credit, paid more than my monthly balance, but the interest rate was so high that my balance wouldn’t budge. I enlisted the services of a debt releif company, but I’m not sure I should stay with them. Both accounts have gone to collections and I have received a court summons for one as well. I spoke to one of the collection agencies regarding the other card, they say they could “probably” negotiate a settlement for half, but I still don’t have the money to pay a lump sum of 20k. I am beside myself with worry now.
I guess my main question is, can I still negotiate with the card companies or is it too far out of my control since I went with a debt relief company?
Please advise me on the best course at this time to get out of this horrible mess.
Thank you
Hello, may I ask, if you consolidate or do a debt settlement with your credit cards, does your credit score go down? Thanking you in advance.
What are the cookie cutter answers/comments for the collectors when they start calling. I will have to take debt settlement for about 80K in cc debt.
Do I try to settle debt before debt goes out of office to collections or before?
Hi,
My husband made me an auth user on his citi-bank credit card, and I charged up a good amount of stuff ($15K) and switched us to online statements, thinking I could pay it off. I finally had to tell him about it because I couldn’t manage the payments on this account plus the 30% interest rate (account is nearly 30K now). We recently moved out of the US and may move again (to a third country) – they know we’re in europe now.
We called citi to try and negotiate a pay off (my husband has also been out of work for a year) and they said they won’t take less than 75% of the oustanding amount (the account is not yet 90 days past due).
What’s the best we can hope to settle for (a family member has offered to help us pay the card, but they can’t afford to give more than a figure that ends up being about half the debt) and when is the best time to push for settlement? Otherwise we are worried our only chance is to try for a five year payment plan if they will negotiate no interest during the time period.
Any advice gratefully received.
Yvette
Hi. I am wondering what to do. We have $50,000 in credit card debt. We were making payments but now are unable to make our payments. We are currently up to date. Sooo, we would like to get behind so that we can try to settle our debt. We did a financial statement and find that our debts are larger than our assets. We also don’t make enough money to pay the credit cards after paying mortgage, cars, etc. Do you think we should stop credit card payments in order to try to settle the debts? We also looked into Debt Solutions, one of the credit card debt management companies but it didn’t sound right.
Hello,
My question is regarding settlements, pay for delete, and chareoffs.
I currently have a BOFA credit card account that is about 4 months deliquent in the ammount of $33,000. I have been working with them and they have offered me settlements which I have thus far turned down. I am most likely going to take their next settlement offer — because I am cashing in my 401k in order to get a “lump sum” of cash.
My questions are: When I settle with BOFA am I able to request a pay for delete option? When I settle — how will this be shown and affect my credit?
Basically — I want to settle with BOFA and minimize the blemish to my credit report and score — how should I go about doing this — I really like the “pay for delete” idea or having the account marked as “closed” as opposed to “charged off-settled”
Good Morning. . .Here is my Question
I have a Capitol One credit card that has went to collections. The balance on the card was $775, after all the late fees and interest the collection agency told me it is no around $1,850. I want to settle this debt but I need advice on what is a reasonable amount.
Befor it went to collections I was paying, what I could at the time which was between $20 – $30 a month. On top of the interest, they were still charging me late fees because the amount I was paying was not enough.
I want to settle this debt but I need advice on what is a reasonable amount.
I am willing to pay a lump sum or maybe even 2 payments for a total of $900. am i being unreasonable?
Situation: Business credit card debt:$10,000.00
Will settle for $9,000.00
Bank said account will be reported as SATISFIED. What does it mean?
I will received a 1099 for $1,000.00 which will be reported as income and will just pay tax on it. Does this have an effect on my personal credit score?
Hello Jesse. The statement “Once you get an acceptable settlement offer in writing, send a check. But first… Write your account number for the account you are settling on the check and in the memo write “FOR PAYMENT IN FULL.” Do you mean the check should be for the entire amount, or are the CC companies willing to make payment plans with a settled reduced amount? i.e. I have 25k with Chase. Thank you.
Steve
I had an American Express business card which was made out to both, my business and my name and for which I am personally liable. My business went under and I stopped making any payments. AmEx has been trying to collect by calling and by having a collection company call for about six months. Now they are suing me and my company, which is now a name only since it is no longer operating. How do I defend myself against a lawsuit by AmEx and if I’m able to borrow some money from my family, can I still try to negotiate a settlement. I am being sued for about 100k…if I can get my hands on any money, it will only be 5-10k…what are my options, thank you for any help
Hi There!
I have a credit card balance of $9300.00 to a Bank of America American Express card. My interest rate is 15.6%. My monthly payments are roughly $240 for this account. It is becoming increasingly harder and harder to pay this amount each month. I recently saw something on the Today show about Time Barred Debt and that if you are in collections for a certain number of years (depending on your state) the debt then comes off your credit report and you no longer owe. Is this true and could I stop paying this credit card bill and let the Time Barred Debt take place and wait for the debt to be off my report? I know I will get poor debt from having the account go to collections but if I wait for the Time Barred Debt to take affect can I get rid of this debt? If not, what suggestions do you have to get this reduced or pay it off faster? I can only afford the minimum.
I LIVE IN LAS VEGAS AND HAVE ONE CARD TOTAL IS 11,800.00. THIS IS FROM US BANK. MY QUESTION IS WHAT AMOUNT DO YOU THINK I CAN SETTLE FOR. THANKYOU.
Are you affiliated with the BBB?
What is your fee for debt settlement, and is that different that debt consolidation?
Hello~ I am trying to figure out which is best for me! I have about 25k worth of unsecured debt. I put about 9k in a debt consolidation program as they were able to negotiate the interest I am paying. The rest I was able to negotiate on my own. However, I am still paying too much a month and can't afford it! The amount I am paying is just the minimum due so it will take me FOREVER to pay it off! I am considering chapter 13 or debt settlement. I know about both but am unsure about debt settlement. I hear that creditors don't have to negotiate and they could still sue me. What do you recommend?
Thank you!
Do you have any information on the Company Debt Free Four You ? I was going to use it to pay off my debt.
Can my creditors take my house if I fall behind on my credit card payments?
I have been unemployed for 6 months. My unemployment checks allow me to pay the minimum balance on all my unsecurred debt, my storage & cobra. I have not bee late on any payments. It also allows me an extra $150 a week for groceries & gas. Therefore, there is no savings. When I find a job, I will need good credit because I will be searching for a place to rent and will need to buy a car. I have about $41K in unsecurred debt + an additional $2000 from my school loan. I am interested in the debt settlement option. My question is… should I wait to start this program until I have passed the credit checks for a car and rental of an apartment?
I have been unemployed for 6 months. My unemployment checks allow me to pay the minimum balance on all my unsecurred debt, my storage & cobra. I have not bee late on any payments. It also allows me an extra $150 a week for groceries & gas. Therefore, there is no savings. When I find a job, I will need good credit because I will be searching for a place to rent and will need to buy a car. I have about $41K in unsecurred debt + an additional $2000 from my school loan. I am interested in the debt settlement option. My question is… should I wait to start this program until I have passed the credit checks for a car and rental of an apartment?
Hi, my wife and I are currently in a credit counseling service, “Credit Guard of America”. Our debt is $17000.00 and our monthly payments are $598.00 + $35.00 fee. We have been in this plan for a little over a year and it has been helping out. We have reduced our debt by about $5000.00. The interest rates vary between 6% and 10% now, vs 18%-22% before the plan. We feel that the ideal option for us is the debt settlement. Can we or should we resort to the debt settlement option, even if we are already enrolled and using the credit counseling service? My answer to this question is a yes; however, I would appreciate your suggestion and input! P.S. Also, I was laid off in January 2009 and in May 2009 started working again; albeit underemployed. I made $62,500 last year and this year I'm lucky to make half of that. We have exhausted our savings and we are in the process of a loan modification for our mortgage of $2670.00/mth through an attorney that was referred to us.
Hi, my wife and I are currently in a credit counseling service, “Credit Guard of America”. Our debt is $17000.00 and our monthly payments are $598.00 + $35.00 fee. We have been in this plan for a little over a year and it has been helping out. We have reduced our debt by about $5000.00. The interest rates vary between 6% and 10% now, vs 18%-22% before the plan. We feel that the ideal option for us is the debt settlement. Can we or should we resort to the debt settlement option, even if we are already enrolled and using the credit counseling service? My answer to this question is a yes; however, I would appreciate your suggestion and input! P.S. Also, I was laid off in January 2009 and in May 2009 started working again; albeit underemployed. I made $62,500 last year and this year I'm lucky to make half of that. We have exhausted our savings and we are in the process of a loan modification for our mortgage of $2670.00/mth through an attorney that was referred to us.
Hi Jesse,
I don't understand option #3 above. Please use an example – such as I have five cards. There is $10,000 @ 12% on one, $4,000 at 9.9% on the next, $5800 at 11.8% on the third, $2250 at 15% on the fourth, and $250 at 18.9% on the last. Please tell how to use thise formula on this example. I am not good at math!
Thanks!
2 questions:
1) My computer tells me that the fild is damaged and I am unable to download anything from Day 3.
2) What if someone is long-time unemployed, living from check to check, with no cushion. Unemployment will run out in about 2 months, no house–just renting…and that's the extension. Is there any way to obtain funds (family and friends already have already loaned) so that I can pay bills and start getting out of debt? Can you give me a job? (Sales) or refer me? I have a great education and have always been successful until now, Thanks for reading.
2 questions:
1) My computer tells me that the file is damaged and I am unable to download anything from Day 3.
2) What if someone is long-time unemployed, living from check to check, with no cushion. Unemployment will run out in about 2 months, no house–just renting…and that's the extension. Is there any way to obtain funds (family and friends already have already loaned) so that I can pay bills and start getting out of debt? Can you give me a job? (Sales) or refer me? I have a great education and have always been successful until now, Thanks for reading.
I have been on unemployment for the past 6 months. If I pay back my 401k loan of 39k, i will not last long with morgage and living expenses. I have 2 more weeks to redeposit my 401k loan into a IRA account. I also have about 8k credit card balance that I am paying min payment. Both are zero interest until November 2009. After that they will be about 22%-25%. Any suggestion is greatly appreciated!
I have been unemployed for 11 months. I had set aside 9 months cash reserve to pay my bills. Over the past 3 months, I have stopped paying most of my unsecured debt ($110K), as I don't want to deplete my cash reserve and not able to pay my living expenses, i.e. rent, food, etc. I am now considering bankruptcy, as I believe this is my last resort. I am concerned how this will effect my ability when looking for new employment. Should I be up front with a new potential employer and explain my current situation? Do you have any other suggestions on how to handle this will a potential employer?
Do you think it is required to have a credit card to increase your credit score & worthiness? I am so fed up & disgusted with the tactics that these banks are using, while they are holding 1 hand out asking for tax payers to bail them out and the other hand out penalizing good paying customers.
I have a question in regards to the debt analysis. All of my debts have gone seriously past due and have now been charged off and placed with a third party collection agency. I have the current balances owed, but no average interest rate as the accounts are charged off. In addition to that, I want to settle these debts for less than the amount owed. So my question is, how do I input that information into the debt analysis form?
How do I know how much the credit counseling program will cost me? I see the debt analysis, but how did you come up with the figures it gives?
I have a question in regards to the debt analysis. All of my debts have gone seriously past due and have now been charged off and placed with a third party collection agency. I have the current balances owed, but no average interest rate as the accounts are charged off. In addition to that, I want to settle these debts for less than the amount owed. So my question is, how do I input that information into the debt analysis form?
How do I know how much the credit counseling program will cost me? I see the debt analysis, but how did you come up with the figures it gives?
I would like to try debt settlement but I owe $40,000 to Citibank and believe that I will be sued. Bankruptcy seems to be my only alternative. What do you advise?
Do you have a suggestion about how I can settle the debt with a former apartment complex?
They are charging me $1633 for leaving without 60 days notice, $1633 for breaking the lease, and another $1633 for fees for the collection agency they sent it to. That's a total of $4999, with 10% per annum interest. How much interest will this be? How is it compounded? I don't understand the “per annum” business. Also, they say I must have it paid within 8 months, or they will garnish wages. I have offered a payment of $500 per month for 10 months. This will be difficult, but not impossible if my income continues as it is. If it goes up, it will be far easier. Please help . . .
I'm considering debt settlement but,I have one question.Do you have to include all of your cards,even if some of those are low interests and low balances?
Hi Jesse,
This information has been invaluable. I have been doing exactly what you describe, keeping my credit score good by making on-time, minimum payments only to get more in debt!
I talked to a credit counselor, and they wanted an extra fee monthly to pay my bills for me, which made no sense to me at all. Then I went to a bankruptcy attorney, and I was told the negative impact would be on my credit report for more than seven years. I was at my wits end.
My friend told me about your site, and after having read this article, I am enrolling in the Debt Guide myself. I will talk to you as soon as I finish the financial education, and look forward to settling my debt of $85,000 as soon as possible.
Thank you so much!
Susan
Is it wise to get a credit card to pay off a debt to an apartment complex? They are charging an exorbitant amount of money, which I cannot pay in a lump. They suggested I get a credit card and put the amount on it, then pay the payments to the card company. Seems like a bad idea to me . . .
Hi there-
I got in over my head with credit cards while finishing my graduated degree. I was able to handle things for a while but when unexpected expenses came up I entered into a debt program. That went okay, but again they wanted so much money each month that when some thing came up I missed a payment, and they suggested that I enter into their debt settlement progam. I did not feeling good about. Now my credit cards companys are calling, not only me but my work, and my family. I am so stressed that I can not even began to understand how to get myself out. Or know who to believe, I think I should just contact my creditors, and see if they will work with me, but how. The debt settlement people told me that until I build up enough money that they can do anything, and that the calls will not stop. OMG
Thanks for the information! It is helpful. I have several credit card accounts that I am 90 days past due on. I have no9t answered a phone call or letter yet as I have been deciding what to do. How long until they put it all inot collections? How does collections work? Can they go after my husband since the accounts are in my name? We are seperated and getting divorced. What shoule I do….write letters to the card companies and explain what is going on? Thanks, Sue
I lost my job of 22 years on Dec. 20, 2008 my wife of 2.5 years left 3weeks later. I was debt free 18months ago. I am now $42,000 dollars in unsecured debt and about 2 – 5 months away from foreclosure. I have a little girl(almost 3 yrs old) I just want to love and protect her. Provide a future! I am thinking of trying to short sell my home; get a rental prop; try to settle my own debt for 10-15% of total owed. Please advise!!!
Hello Jesse,
I am your typical mid-twenty-year-old sucker, though I must say it started long before now. When I was a freshman in college, I contracted the “Free t-shirt disease”! You know the one… the credit card companies come to your local college campus and get you to sign up for their credit card by giving you a free t-shirt . That is the next best thing since sliced bread when you start doing your own laundry. Needless to say, it is several years later and I don't have the t-shirt anymore, the credit card company never gave a class on interest rates, and now I'm paying greatly for my irresponsibility and lack of knowledge. I think I'm still pay for tanks of gas that I burned off sometime in 2003… I currently owe $33,230.39, which is spread out over 4 different credit cards. I have cut out some over-spending, but the interest rates are keeping me stuck. It seems more than half of my monthly payment goes to interest. Only whose interest is it in anyway? Not mine. It's definitely in the interest of the credit card company.
I want to pay off my credit cards, and I don't want to cheat anyone out of any money, but begrudgingly I'm starting to feel a little cheated (mostly by my own ignorance and inexperience with credit). I didn't know if you could offer me some advice on how to maintain a comfortable lifestyle (which trust me I'm not living all that extravagantly, but I'm not living on the streets either, so I'm grateful), and still start paying my credit cards off rapidly. I use to be a more severe over-spender than I am now. It used to be more of a therapy for my lack of self-esteem, but I am working on that and spending a lot less on the things I normally would have.
What is the fastest way to still be responsible and pay off my debts, without ruining my credit score (or at least maintaining a credit score that will still allow me to at least rent an apartment without a co-signer)? I have a huge amount of student loans so that take a chunk of my monthly income as well as my rent… so paying “extra” on my credit cards really isn't an option if I plan on eating something other than 25 cent flavored noodles. Are there any government grants that I might qualify for or some type of rehabilitation scholarships? Are there any credit cards that have 0% interest rates that I could apply for that disregard how much I currently owe, and be approved for? Are there any loans I could apply that have low interest rates even though I don't have any collateral or home to back it?
I greatly appreciate your help. Thank you so much for your time.
~Be well~
Mary
This is an abridged version of the mess I have created for myself….I am employed 51 year old single woman condo owner in So. CA. I have made some very poor decisions in regards to auto loans as well as two personal (secured) loans. I do not have any credit cards…and no debt due to unsecured loans. Although I am current on my mortgage payments, I am seriously delinquent on my home owners association dues, my time share loan, one personal loan has begun garnishing my wages and has placed a lien against my property…and if I don't do something soon…I feel the other company I acquired a personal loan from…will do the same. If this wasn't enough to have sleepless nights over…I have not filed my 2007 and 2008 income taxes yet because I claimed 10 people on my W-2 so I would have more income to work with to pay bills…but now Uncle Sam wants his bite now and I just don't have the $$$. I also borrowed from my 401K…which I am paying back…but my head is still under water. I really don't want to file bankruptcy cause I made my bed…so I should sleep in it. (What sleep???) My other primary concern is if bankruptcy is the best choice now…I really do not want to loose my home. I have lived here a long time…and would not like to loose the equity I may have built up. Will you please refer me to someone that can truly help me get out the mess that I am in…and not create even more debt and headaches for me.
Thank you so much for your help!!!
This is an abridged version of the mess I have created for myself….I am employed 51 year old single woman condo owner in So. CA. I have made some very poor decisions in regards to auto loans as well as two personal (secured) loans. I do not have any credit cards…and no debt due to unsecured loans. Although I am current on my mortgage payments, I am seriously delinquent on my home owners association dues, my time share loan, one personal loan has begun garnishing my wages and has placed a lien against my property…and if I don't do something soon…I feel the other company I acquired a personal loan from…will do the same. If this wasn't enough to have sleepless nights over…I have not filed my 2007 and 2008 income taxes yet because I claimed 10 people on my W-2 so I would have more income to work with to pay bills…but now Uncle Sam wants his bite now and I just don't have the $$$. I also borrowed from my 401K…which I am paying back…but my head is still under water. I really don't want to file bankruptcy cause I made my bed…so I should sleep in it. (What sleep???) My other primary concern is if bankruptcy is the best choice now…I really do not want to loose my home. I have lived here a long time…and would not like to loose the equity I may have built up. Will you please refer me to someone that can truly help me get out the mess that I am in…and not create even more debt and headaches for me.
Thank you so much for your help!!!
I am in debt and have a child support rearrage of $7,000 and other bills that equals up to about $11,000. I have a job bringing in $1600 a month. I want to consolidate all of that in one lump sum and just pay on the loan. What refutable companies could I deal with? I have a hard time keeping all the payments up and pay child support too. I just want to consolidate the back child support pay.
I have several credit cards that are maxed out and behind on. They were used to help pay bills when certain times were tuff. What is the best way to start getting rid of debt? I was using a debt management program but they wouldn't work with me when I needed it. I just want to settle this debt but with the least amount of more damage to my credit report.
I am on a DMP, but am about to run out of money. (currently on unemployment with no jobs in sight)..what are my next steps?
I am still interested in your help. Based on he info you gave me I am refinancing and eliminating all Citi debt. Others are telling me that Citigroup does settle, but now does not matter. The only debt I need to deal with is from BOA. You have my info, I still have not made payments, 60 days on some, 30 on others, and they still make me credit offers. I have started my third job and need to know my next move.
Thanks,
Charlie Goff
UPDATE:
From: Charlie Goff
Sent: Friday, August 14, 2009 1:14 PM
To: jesse@debtgotoguy.com
Subject: Settled
Hi Jesse! Just an update on my last email. Just settled over 49000 with Bank of America for 15000. Have the confirmation letters to prove it. One phone call. One settlement. No cost to me. I LOVE IT!!! What do you think? If you can, let me know.
Thanks,
Charlie Goff
Re: Negotiated Debt Settlement
Hi Jesse,
My wife has 5 credit cards and is currently in over $51,000 debts.
Last week, she deposited the balance transfer check from her 2 credit cards to her checking account to pay for other cards. She is currently in good credit standing and I would like to know if she could start the negotiated debt settlement at this time with your help ?. If not then how long must she wait before she can start ?.
Besides, must she miss the payment before she can start the negotiated debt?
Thanks
Rich
I just enrolled with a different debt relief program about 2 months ago. Not really thrilled with them but then again I really do not know how all this really works. I am 2 months into the program, have made 2 payments and my phone is still ringing off the hook. Is that normal? If i decide to, is it possible to terminate with them and go with you (your company). You certainly have a lot more info on your web site than the company I am currently working with. You response is greatly appreciated.
Sincerely,
Mary
Hi Jesse,
I was wondering if I could discuss some of the details about your program before faxing all the account info..just to save any additional effort prior to knowing if this is the way I want to go…i have a few questions
$33,000 in CC Debt. I am 1-3 payment behind on most of them.
I wanted to know how the credit company’s will report my accounts if I go with this plan..ie. Paid in full or paid as agree’d? Are they reported as a charge off?
What are the tax implications of this settlement?
Does your company represent in situation if CC company wants to sue? DO you know if some are more aggressive to sue if this arrangement is made?
Is it possible to look at what your contract prior to signing up..i am interested to know the obligation your company has to its clients.
Can you send me a brief description of the steps that I would go through during the process..ie. 1) submit the application, cc statements, 2) set up account, deposit, 3,4, etc…
What can I do about receiving phone calls at night? I received 3 calls in a 3-day period each after 9:40 pm. This does not include the calls during the day. These calls are registered on my phone along with the time they were received. Anything I can do about this?
I read most of your material and it seems like good information and would like to discuss my situation with you. However one of my rules in order to initiate any conversation is for that business to have a phone number with a live person. I am disappointed that you do not have one listed.
Great rule Baran! I do have a phone number with live people to talk to. Please feel free to call 888-928-DEBT(3328) — Let’s talk!
How does your mortgage loan modification work? Who are the people contacting the bank? I recently sat down with a loan officer at the bank that holds our mortgage (and home equity loan)and explained the events leading up to our current financial hardship (husband’s job loss at the age of 61 in 2006 was the first thing). Our debt to income ration is over 50%, but I was told their bank did not apply for any of the “bailout” money. I’m waiting to hear if they can offer any other options, before consulting a bankruptcy lawyer. (We are not behind in our payments yet.) Under the circumstances, can we hope for some sort of modification to our payments?
We are paying about $1500/month on unsecured credit card debit of over $60,000. (All accounts are current.) Even if a debt settlement renegotiation could reduce that by 1/3, if we had to payoff the new amount in 24 months, our payments would be over $1600/month. Our financial situation makes it impossible to pay even $1500/month for more than a couple more months. At that time, bankruptcy may be our only option. Should we wait until our credit card accounts are more than 60 days in arrears, or should we talk to a bankruptcy lawyer now?
My husband and I have over $75K in credit card debt and my husband’s income has dropped $20K from 3 years ago. Three years ago, we had about $20K in debt and I think we’ve just used the credit cards to supplement the loss of income instead of trying to change our lifestyle. Anyway, after learning that big lesson, we are starting to get scared about our ability to pay the debt as now the cards are all raising the interest rates to unreasonable levels. I even had one card rep tell me they were raising my 8.99 rate to 29.99 so they could remain profitable!! The nerve, especially since this company is a huge recipient of Government bailout money. So, as it gets more difficult to make our payments, we are considering some kind of debt management/settlement services though we are not currently behind on any payments. It breaks my heart to do this as I have been working so hard to pay the debts I owe. I am so nervous and unsure of just what to do and want to do the right thing for once. Can you advise me?
I had been current with c/c bills till end of January. Laid off, What is the best thing to tell c/c companines when they call, or best not to, till period of time?
I have over 75,000 in unsecured debt. I just took a draw against my 401K for 42,000 and am going to pay a credit card that just jumped my interest to 27.99%. Can I get them to adjust the total amount owed or deos the fact that I am not behind in any of my bills squawder that ability. I plan on paying them off next week.
Can you guys renegotiate mortgages along with debt settlement