How To Settle Debt - Credit Card Debt Settlement

Best Way to Settle Your Credit Card Debt FAST:

Do It Yourself Debt Elimination Debt Settlement

What is the benefit of using debt consolidation for credit card debt? I am trying to decide to either call the credit card companies myself and negotiate for a lower payoff/settlement amount, or to use a debt consolidation company? If I negotiate with the credit cards directly, will that be considered a charge off? I would want to settle myself if I can to avoid paying all the months of high interest. But if I use debt consolidation, then they will charge me a fee every month for so many years? What is their purpose? What would be the best route to go financially?

You have to make sure you have a reputable debt consolidation company. There are many out there that are not. I know that Consumer Credit Counseling is good because NCUA backs them and I have to work with them to coordinate classes for our members. The thing about debt consolidation companies is that sometimes they can get a better payment plan or rate because they have deal in place with the cc companies. Also, the credit card companies feel better because they know you are working with someone to actually pay down your debt.

You could also look into a consolidation loan through a credit union or bank. You have to look around and make sure you are getting a decent interest rate.

I think that you can get free consultations with the debt consolidation companies. This should tell you what the costs/fees would be. You can always try the calling the credit card companies first to work out a deal.

Good Luck!

Most people say to try to settle b4 the court date. How much will I need?

Any other suggestions?

You should contact the credit card company and offer to pay them. They are going to want the full amount, but unless you are rich you are not going to be able to. Try negotiating a payment plan with them. This could save you a lot more because if it goes to court you may be responsible for all the attorney fees and court cost. You can get some good tips from http://www.your-credit-solution.com .