Best Credit Card Debt Relief

We started a program with "Consumer Credit Counselors" This progarm has us pay the Consumer Credit Counselors, then they pay the credit cards every month. All they do is lower some of the interest rates. They don't negotiate amount owed. The payments are too high for us, so we looked into other alternatives. We found one company that will do it differently for less. They have you pay into an escrow account, and they pay off each credit card individually. They say they negotiate lower balances and interest rates. The payment would be lower and the payoff time cut in half. Does anyone know of any reason we shouldn't do this? Are there any other better ways? WHAT IS THE BEST WAY TO GET CONSUMER DEBT RELIEF with no loans?

I am not saying that debt settlement/negotiation is the wrong way to go. However, it will damage your credit further.

If you choose to settle on your debts, you can do this without paying enormous fees to a debt settlement company. Keep in mind that any forgiven debt of $600 or more is automatically reported to the IRS, in which you would owe taxes on it as a form of income.

If you can continue to make the payments on your current plan, then that is likely the best option for you. If you are having trouble, give your credit counselor a call to discuss possible changes to your account.

2006-08-16 09:02:29 by boxbeatle

Today's tumultuous economy has left millions of Americans strapped for cash and overburdened by debt. Banks and companies are getting bailed ...

My friends husband died leaving her three kids and over $100,000.00 in credit card debt. She has been trying to pay but now is getting threatened with them taking her house. She make just a little over minimum wage on a part time basis and the depression is starting to drag her down.

so far I have done good progress with this:
http://debt-consolidation.50webs.org

2006-10-11 14:20:44 by Cuddly T

I'm looking for an alternative to bankruptcy and wanted to see what my options are? I've looked into credit counseling and I don't feel that is the right option for me. I wanted to know what other options are Available for me?

Debt relief is a difficult problem many citizens are now facing. All legitimate debt relief service providers will consult with you for free. http://www.debtreliefreview.com Try visiting multiple debt relief services and inquire about your questions and compare thier answers. You will be able to tell which ones are providing useful advice.

2008-06-16 21:09:37 by Jordan Wilson

I heard the governement has added Credit Card Debt Relief to the Stimulus Package. But everytime I try and look it up, my search engine is cluttered with ads from organizations who want to "manage" and file for me for a fee. Where can I find information just for ME, the consumer, not from a third party? Someone please help me. Thanks in advance!

The new laws that take effect next year are limited. The bank can't do 2-cycle billing, can't raise your interest rate as quickly (which is why they are all raising the rates *now*), can't do universal default, etal.

If you are hoping for Debt relief in the form of cold hard cash, dream on. Nothing is going to magically erase your balance due.

Everything yo uwill find on the web is HYPE. Every debt settlement company will offer, for a fee, to ruin your credit by asking each creditor to accept less than is owed. This is not a stimulus. This is a ripoff.

2009-12-14 09:34:46 by JT

Its about 20,000 in total.

I would call your credit card company directly first to see if they can offer you a more affordable repayment plan. To do this they will close out any available credit you have, but that's what gets you from not charging it back up If you can't do it on your own, try NFCC.org, they are non-profit.

2009-01-13 05:38:52 by wolff