I have an outstanding and delinquent debt of ,000. I do not have a job that can pay it off or even make payments in a regular basis. I lost my job 6 months ago and I am in a bind. Does anyone out there have any idea or similar experiences that can help me? I have heard of comapnies or groups over the radio that if you call them they can help you reduce and settle the debt. Can they be trusted? I appreciate the help and this community has helped me out before. Thank you!
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Wed, Jun 24, 2009
June 24th, 2009 at 8:18 pm
I will try to explain this in a short version the programs your talking about you have two choices, credit counseling or debt reduction
both work but you need a job in order for them to help you
In short credit counseling you make one payment on installment type loan don't really lower your payment to much if you late your done
debt reduction settle your cc for about 20 to 40 cent on the dollar this is a more aggressive type .
My firm wont handle any acct under 20k i personally handle acct 60-125k in cc debt and this is unsecured debt
for example on your 14k you would pay 9k at 48 months 188 a month
their no interest but that acct wont start settling untill 7k is aquired
keep in mind neither programs are loans