Credit Card Debt Consolidation Service

I ended up using my company credit card for personal use while on medical leave. I was not able to pay it off completely right away and it was sent to a collection agency. I have a very nasty debt collector calling me all the time now (which is to be expected) but her story seems to change so I'm not sure if she's being honest or using scare tactics.
I contacted a debt management program and am working on paying off the debt over the next 12 months. Meanwhile, this woman keeps calling me and now she's apparently (according to her latest voice-mail) set up a conference call with my corp office tomorrow.
I'm just wondering if there's some reason using a lump sum settlement won't work on a corporate card?

Debt Settlement, also called debt negotiation is an arrangement between a debtor and a creditor to repay a debt generally for a for a lowered payoff amount. When a debtor is not able to pay the debt any more for any reasons, debt settlement is the only option that remains.

Generally, only unsecured debts, like those accrued with credit cards , can be negotiated for settlement. This is because of the fact that there is no security attached with unsecured debts. Hence, the lender can't repossess anything. On the other hand secured debts, like home loans, mortgages, car loans etc. have a collateral attached to them and can be repossessed by the lender if a default on debt occurs. So, there is no debt settlement or negotiation with secured debts. Read more about it at: http://www.credit-card-gallery.com/artic le/216,The_secret_of_successful_debt_set tlement

2007-04-29 20:26:22 by Trxy

www.debtfreeassociates.com -- If you have overwhelming credit card debt, don't panic. Our consolidation service at Debt Free Associates will ...

I am thinking of dealing with Clear One Debt Relief and it sounds to good to be true. What makes me leary is that they want me to go delinquent on my cards before they will step in and they will take my payments out of my checking account each month. They say they can take my $15,350.00 credit card debt and reduce it 47% but they will not deal with the company's until I am delinquent for at least 2 months and there is no guarantee that these company's will take their offer. I want to read the contract but I have to sign up first. Has anyone else been screwed by any of these company's?

Their is no law that says that your creditors have to deal with a 3rd party debt relief Co. You are still responsible for the debt. You also, have to pay them a monthly fee that you could use to pay the debt with.

2009-10-01 05:19:34 by Penne

Price: $9.75

I have built up about 12000 dollars of debt between the period of college graducation til I found my job about 1.5 years later. Right now since I have pretty stable income, I would like to deal with my debts asap. I am looking for a good debt consolidation/reduction service asap. I have been checking around, there are too many options online. Are they all legit? or There are certain ones would fit my need the best? Thank you. If you have the same experience as me, please share the info so I can go debt free asap!

I used consolidated credit counseling service, and I paid my debt with 2 years (I had a $10,000 debt back then). I am using them again now (debt amassed from using credit cards for school). I put in my info online last night, and by 9am this morning one of the counselors called me to get me set up.

here's their website http://www.consolidatedcredit.org

and they are in the better business bureau registry

2009-01-07 09:38:40 by boisfeu

I have less than $5,000 in credit card debt, but it kind of has me in a bind. It seems I'm only paying off the interest while the actual balance never goes down. I applied online for a personal loan, but was rejected. I was thinking of maybe using a credit consolidation service to help me out. What ones are reputable? Which ones have you personally used and what were your thoughts on them? Any help is greatly appreciated.

There is no magic answer.

Income minus expense.

If you dont have enough money to pay off your bills, you need to earn more, or reduce expenses to pay down your credit.

Credit consolidation isnt going to solve the problem, just create ONE bill out of many PLUS their fees.

Set a goal to have 50% paid off by this time next year. That's only $200 a month.

Good Luck

2008-01-02 12:19:14 by ajlnkb23

I am not looking for debt consolidation service, but a credit counseling service. I do not have any credit card debt, but I do have over $4,500 in total debt on all of my credit reports. Which one is best?

I strongly recommend you check out www.daveramsey.com

Dave Ramsey is a financial whiz whose program has changed my life completely - I am a single mom who has paid off $15K in debt in the past year and cannot believe how easy his program is to do and how much it works.

The web site has all sorts of information, including links on Ramsey certified counselors in your area. I can't recommend the program or its counselors enough. You will be glad you tried it! They also give you tips on what to look for in a credit counselor and what types of services to avoid.

BTW, congrats on only $4500 in debt. That is not much compared to a lot of people (or myself, who was stuck with a lot of medical bills in particular after divorce). With the Ramsey plan and help from a counselor, you will be in great shape. Good luck!!

EDIT: Credit counseling does not affect your credit rating whatsoever. Your going to talk to someone for financial advice has nothing to do with your credit report.

2007-02-15 10:14:50 by ♥ Mary ♥