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  #16  
Old 06-23-2010, 08:01 AM
gramham2803 gramham2803 is offline
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Default Re: Credit Card Debt Relief

Good post. I appreciate it
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  #17  
Old 07-03-2010, 03:16 PM
tdls17 tdls17 is offline
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Default Re: Credit Card Debt Relief

Hi, I can't comment on these org's because I don't have personal experience. However, common sense dictates there has to be some fee associated with this; which is the last thing you need right now.

If you need to pay down debt; start with the highest rate loan and pay it down with what you can realistically afford. Make that loan a priority because it's charging the highest finance % .

Tim

Last edited by tdls17; 07-03-2010 at 03:20 PM.
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  #18  
Old 08-28-2011, 10:39 PM
debt.advisor debt.advisor is offline
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Default Re: Credit Card Debt Relief

If you’re looking for credit card debt relief, you’ve come to the right place. Getting into debt is easy, but getting out of debt can be extremely difficult. We are here to ease the process and get you on the path to becoming debt free.
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  #19  
Old 07-26-2013, 04:54 AM
crisjones crisjones is offline
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Default Re: Credit Card Debt Relief

Are you using Credit card Act resources like you should be? In 2009, President Obama signed the Credit card Act into law. Part of the legislation is that credit card issuers and the National Foundation for Credit Counseling must work together to provide free credit counseling to delinquent consumers. In spite of this, credit-constrained customers simply are not using the resources, per NFCC reports. Customers might be more interested in a payday loan to help.
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  #20  
Old 08-14-2013, 01:35 AM
kerstinemeyer kerstinemeyer is offline
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Default Re: Credit Card Debt Relief

There advantage and disadvantage having a credit card. To face free worries life make sure you know your priorities in life.
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  #21  
Old 08-19-2013, 03:25 PM
TMulgrew TMulgrew is offline
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Default Re: Credit Card Debt Relief

The way I see it you have the following solutions:

If you can, try paying double what you would normally pay for your minimum monthly payment for your credit card.. The quicker you can pay this off, the better you'll be..

In order to ensure that the impact to your credit score is minimum, try contacting a consumer credit counseling company. A Consumer Credit Counseling company will speak to your creditors on your behalf & attempt to negotiate repayment, so that you pay a single affordable amount each month. Of course a part of this repayment will include a fee for the counseling company, but it really will be a huge weight off your shoulders. Many of my clients have been satisfied with this option.

The 2nd option is similar..in that you contact take on a debt settlement program.. This has the advantage of ensuring that your debt is paid off in as little as 2 to 3 years.. It works in the same way as A Consumer Counseling Company - except that you credit score will be negatively impacted - at first.. but will be restored over time once your debt has been paid off.

Your 3rd & final option is Bankruptcy. I would strongly recommend this be a last resort solution.... The reason being, that your credit score will be badly effected for closed to 5-10 years. That means that if you want a mortgage or buy something on credit, you will not be able to do this for close to 5-10 years! Like i said, this should be a last resort only!

Hope that helps. Option 1 is usually very popular. Let me know if you need any further advice.

Toby Mulgrew
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  #22  
Old 09-09-2013, 11:45 PM
ideasonfinancing ideasonfinancing is offline
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Default Re: Credit Card Debt Relief

You just have to go back to the classical way of earning money. Find a decent job and then simply save. Lower down your pride and negotiate with the credit card companies.

You do not have to make things fast because they might just turn out to be another scam.
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  #23  
Old 09-10-2013, 12:26 PM
Hopwood04 Hopwood04 is offline
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Default Re: Credit Card Debt Relief

Yes those firms are legit but I would visit the BBB.org on any that you consider. I also would want to do business with a non-profit vs. for profit. Just my 2 cents.
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  #24  
Old 10-26-2013, 10:55 AM
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creditsabre creditsabre is offline
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Smile Re: Credit Card Debt Relief

Quote:
Originally Posted by Imindebt View Post
Can anyone tell me if the credit card relief programs you hear about on the radio or the ones you see on tv are a scam or do they really work?

I currently owe around $25,000 in credit cards and the interest rates are going up and have asked them to lower the rates and they have. But they just seem to creep rite back up, Our credit is very good, We are good about making sure we make payments on time but at this rate it will take a lifetime to pay off. We pay the minimun most of the time but will on ocassion pay a little more. Times are tough and we are making more money than we have in the past so that is a good thing but when we were not making as much that is how we got in debt, I just want to know if those plans are scams or not and if they are not can anyone direct me to a decent one because they seem to be everywhere on TV and Radio or Im noticeing them more because Im in debt!!!! Please Help....
If you cannot afford to pay your credit card debt without sacrificing essential living expenses then you need to avoid the following 6 biggest mistakes:
1) Premature declaration of bankruptcy
2) Use any kind of debt consolidation or settlement.
3) Use of a debt counselor who is likely to push you towards declaring bankruptcy.
4) Use any kind of loan, especially an equity loan that will just convert your unsecured debt to a secured one.
5) Try to negotiate with debt collectors over the phone or admit to the debt in anyway.
6) Bury your head in the sand hoping that the problem will go away or someone will come along and solve it for you.

All the above methods will result in more debts because of your inability to pay. In addition, your lack of knowledge will increase your chance of bankruptcy along with likelihood that your will SCAMMED multiple times along the way.

If you truly cannot afford to pay off your debts, then I suggest the following 5 steps instead:

1) Educate yourself about the debt industry, so you are able to deal with debt collectors/attorneys and unscrupulous professionals who will try to take advantage of your situation.
2) Find and hire an experienced local debt/consumer rights attorney with a successful track record. When they represent you, the use of their official letter-head to respond or write letters is much more powerful deterrent if you did it yourself.
3) Study the FDCPA and know how it protects you.
4) Fight for non-payment, knowing that you can alway declare bankruptcy in the very last resort.
5) Learn from people like me who used to have your problem but successful fought their debts and won.

In the end, there is no easy way out. You can do nothing or leave it others to make the wrong decisions. Alternatively, you can stand up and fight through self-education and following my suggestions above. Either way, I wish you luck because you will need it.

Last edited by creditsabre; 10-26-2013 at 11:14 AM.
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  #25  
Old 12-12-2013, 07:41 AM
danielhermann danielhermann is offline
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Default Re: Credit Card Debt Relief

If you are facing problem with the repayment and as you mentioned that your credit rating is good, you can approach the bank mentioning the problem you are facing. If you get a favourable reply from the bank do as they say, but if you do not, then you approach the insurance companies. Every insurance companies will have some policies to cover the credits on the credit cards. They can help you in this regard.
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  #26  
Old 12-17-2013, 08:08 AM
jeffnev jeffnev is offline
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Default Re: Credit Card Debt Relief

Hi there,

credit card debt is quite a beast. I would recommend to use the extra money you are earning to get rid of the debt as soon as possible. Also I would try not to use a credit card - it is a tempting little thing however it can get you into trouble. BUT there are alternatives out there that will do the same thing as a credit card but won't drive you into debt (and interest rates). You can have a look at getting prepaid debit cards from Cashplus, you put as much money as you want on them, gives you the same benefits as a credit card - but won't ruin you!

but yeah you will have to cut back and try and get rid of that debt first...
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  #27  
Old 12-27-2013, 12:50 AM
hassanzeb hassanzeb is offline
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Default Re: Credit Card Debt Relief

i dont like these credit cards, me going to block my card forever because they charge so much interest on principal amount......
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  #28  
Old 01-10-2014, 03:12 AM
Anna McNally Anna McNally is offline
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Default Re: Credit Card Debt Relief

If your credit card debt is so high and you really want to get relief from your credit card debt then take a step, because getting out of credit card debt is only half the battle and you can win this battle. First get part time job, reduce your expensive, draw weekly or monthly budget schedule, i believe that you can manage your finance efficiently, spend less than how much you are earning.
Good Luck
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  #29  
Old 09-16-2016, 03:53 PM
birchtree402 birchtree402 is offline
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Default Re: Credit Card Debt Relief

Colleges should offer financial counseling the same way that high schools offer career counseling. Parents don't always know best, and peers don't always know best. In this day & age, its just as easy for students to rack up huge credit card debts as parents.

Admission is such a touchy issue, and there is pressure for students & parents alike to sort things out independently. On top of that families aren't always informed in discussing financial matters. Mandatory Financial counseling would benefit students & families even as early as High school.

A crediting agency that has the planet in mind would not engage in predatory lending, scams or fraud. There would be no Housing bubble, dishonest couples wouldn't trap their children in the same situation they were born in.
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  #30  
Old 10-11-2016, 02:11 AM
FrankS FrankS is offline
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Default Re: Credit Card Debt Relief

Quote:
Originally Posted by shonna27 View Post
oh, i dont have any issues with getting loans or credit cards now, i have been out of the program for 2 years and the bank has given me money.
So your credit rating is good again despite having defaulted such a short time ago?
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