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Decision Time


Rose1
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I am having trouble deciding how to move forward in regards to handling my debt. For a long time I lived on credit and used one card to pay another. Now it is time to take action to resolve this situation. I have been talking to debt settlement companies but I haven't taken the leap. I have 7 CC's with almost 70,000 on them. The companies I have spoken with sound like they know what they are doing, but there is so much written about how tricky these companies are. I could use some advice on what to do next. I am not current on any of the CC's and some are in collections.

I think the process would be difficult to handle myself. In the past when I have spoken to CC's over the phone I have given in to them. I read the sticky about settling debt on your own, but it seems like it would really be more complicated than that.

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Do not go with a debt settlement co. I just received a refund from one of them for all the fees I paid (for them to do nothing). I just posted this also. I was never late on anything, it was our debt to income ratio that was hurting us. Now our credit is destroyed and has cause alot of stress.

We are now in a tough situation on what to do because we are so far behind!!

Just beware of these companies.

Worried

Oh, by the way, I received a refund because I turned them into the BBB, after they told me numerous times they could not do any refunds. It is funny how they all of the sudden could do refunds!

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Post your creditors, the amount of debt for each account and the when the last payment was made on each account. The folks here can give you some insight into what your options are. It sounds like your goal is to settle. It's possible. And you can do it yourself. It's not really all that complicated. Have any of the accounts charged off yet? Are the accounts still owned by the original creditors?

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