Debt Relief Credit Card

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

thedebtrelief.net |→ There are several legitimate debt relief companies available in the industry, there are a few others who are looking to take ...

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

Price: $10.95

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

Price: $4.99

Does dealing with them destroy your credit for a long time or temporarily ?
Are there any good companies out there ?

they are in the game to make more money off you,

2010-01-28 23:02:56 by jimulik

I know there are a lot of scams out there, but does anyone know a legit site that will help get credit cards paid off. Preferably without requiring the cards be canceled.

To avoid being scammed make sure the firm you chose are part of the BBB network!

2010-01-13 11:04:32 by moretyme4me