Consumer Credit Card Debt

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

WWLP Springfield, MA interviews Christopher Viale, President and CEO of Cambridge Credit Counseling Corp., about a new study which examines how ...

I'm horrible at this, any help would be appreciated.

I put credit card or consumer debt, because i am not sure which one I'm going to explore yet

1. How people get into debt
2. How people can get out of debt
3. How people can avoid getting into debt in the first place

2008-09-22 12:13:53 by crom84

Price: $6.99 $6.99

Similar debt fewyears back in us around 700 billion dollers

Search consumer debt

2006-12-23 00:34:17 by craftsman

Price: $34.95 $34.95

Will the government be bailing out the credit card debt like they did the high-risk mortgages? Is this the time to just spend, spend, spend as soon the U.S. government and Bush Administration will once again bailout the private sector? Prsident Bush said, America will know when the economy is up and running again...spending will increase! Is this credit card debt what the president had in mind? Will this situation be another disaster just like the housing market and risky mortgages? Is America facing one bailout after another for nothing less than irresponsibility? Will bad behavior on the part of lenders be once again rewarded by shifting the costs on to the tax-payers? How far off the track is this train running full-steam ahead, called the United States of America?

Because most people spend credit cards as if they are free money and like it is never ending and you can spend spend spend. They can stop any time, but they think that it will just pay itself off, no worries added. These people use them constantly, and most of the time they can't afford to use them.

2007-12-24 17:14:24 by Woody Woodburn

I don't know, but, Bush did tell Americans to go shopping after 911. I guess he took his own words to heart.

2008-05-19 05:50:47 by MRF