Luis C asked:


My parents bought a home and asked me to move in with them, which i did. It’s now been 2 years and financially i am doing really bad meaning that i can’t pay off my credit cards, I’m always past due to the fact that the mortgage is high, my question is do those commercials about credit card debt really help you? like those, “I went to debt relief and now i owe no more money, I’m debt free..” does that really work or is it a scam?

Allen

I.D.K. asked:


is your bulk folder flooded with credit card debt consolidators???

i had 54 debt relief ads just this morning
—d_h : i don’t even have credit cards LMAO !!!!

Pamela

Franko asked:


I 'm looking for the comparison? As-is beneficial or not to help? N, no m? S ass in this process. Prefer? To pay off the debt in 4 years of, however, the problem is we might need on your cr? Credit in an emergency. Notes some services require that you cancel the card once paid off and / or suspending the cr? Credit while paying off this debt.

Diana

Mr. Detroit asked:


Hey, I 'VE just blessed with a nice progress compared? To 150k for the hospitality. I want to get some advice about what? if i pay off debt first. My fico is 430 and im trying to buy a house but I have a little car repo 's cards cr? Dito apartment and 1 as? as pr? stamos student. Please if anyone has tips on c? Mo turning around now cuz I have the money to pay off debt. Thanks!

Brent

jimmyaven asked:


I have two credit cards that I have used over 5 years ago and never paid back. The total of the two cards FIVE YEARS AGO was $1000. Of course, by now, it should be close to $3000 because of all the interests.

What does debt consolidation do? More importantly, can it REALLY remove or reduce the interest that built up over the last 5 years?

When doing a search for debt consolidation services, I get THOUSANDS of results. Which debt consolidation services are better?

Detailed answers would be appreciated.
Update: Am I correct to assume that if I leave the debt as it is, I can have it completely wiped off my credit card two years from now as if it never happened?

Kim

Sardonia asked:


It’s been about 3 or 4 years and I have 8500 dollars or so in collections from 15 or so different collectors. Some from medical, credit cards, etc… I honestly don’t know the best way to find out how much I owe who anymore. I look on my credit reports but they have a ton of entries for the same debt. Would it be a good idea to just write a letter to each and every one of the collectors, or go to a credit consolidation place and have them do it for me? I want to be rid of this once and for all, but now just have no clue how to go about it. Thanks, Brandon

Stacy

asimmonz asked:


I signed up with ABC Debt Relief and they told me that even though they couldn’t tell me to stop making payments, they did recommend that. I have never been late on any C.C. payments. They said that once I stop making payments, the C.C. companies will try to get me to pay throughout the next 6 months or so. But after a while, they will put me in “collections” status and are then ready to negotiate a settlement which they say I can cut down 40% of all my debt. Does this sound too good to be true? Or, am I getting douped into punishing my credit score for the next decade?

Caffeinated Content

sami_sam asked:


What is the best company to go through for debt reduction/consolidation? I have about 6 credit cards and they are all at their max, and I am only 21!

Now before you go judging me and telling me not to spend my money on shoes, this was all for school, basic living expenses, and to help my family. Student loan companies wont loan to me because my credit score wasnt high enough and I didnt have a co-signer, and I couldnt get federal aid because the *said* my mom made too much (39k a year as a single parent of 3 kids, 2 of which are dependant, a mortgage and 2 car payments? dont think so!)

So… Who are the best non-profit debt relief groups to work with, coming from experience please?
also– does debt reduction show up negatively on your credit report, or does it just show up as a loan?

Caffeinated Content for WordPress

Calli S asked:


ok, i turned out to be the 18 year old statistic getting a few credit cards and not having the correct judgement or knowledge to use them. in total of about 3-4 cards, i have just over 10,000 in debt.

im 21 now and know better, but not how resolve my situation. there are soooooooooo many debt relief commercials and such and i dont know if they do any good, or which ones to choose. its quite overwhelming.

and to top it all off. i recently recieved a summons for one of the credit cards, they even sent one to my employer. i feel like im going to drown.

id love to consolidate my debt and set up a plan. but to be honest im not even sure where all my debt is. how can i find out all the pple i owe? some have stopped sending mail thinking i was a loss. some help please. im desperate. im to the point i just might file bankruptcy.

oh do i ahve to go to court? can i just settle outside? or what? im nervous

Caffeinated Content for WordPress

Narendra asked:


Credit card debt is starting to get out of control. These tips will help you get out of debt and even start saving money.

These days credit card debt is unfortunately a common problem. The buy everything you want now attitude and pay it later ?” is too often how credit card debt starts. In the beginning, making the payments to the credit card companies is not a problem ?” but as the credit card balances rapidly increase or the number of credit cards increases ?” this is usually when debt problems begin.

Now you’re weighed down with so much credit card debt that you don’t know what to do. The first step is realizing that the debt is a problem. Credit card spending is what got you into this predicament. Now it’s time to find some debt relief. Here are some practical ways to debt relief.

1. Get rid of your credit cards. Do not get any more credit cards or open up any additional lines of credit.

2. Implement a budget. This begins with a practice and honest look at where your money is going. Ultimately there should be more money coming in than going out. Track and record your spending habits over a period of time that’s at least a month. It’s critical to write down everything you spend ?” especially cash purchases. After one month ?” examine your spending habits and see what you can do without.

3. Budget your payments. After you have committed to removing unnecessary expenditures from your budget ?” use that additional money to put toward paying your credit cards.

4. Start by paying the credit card that has the lowest balance. Continue to make the minimum payments (or whatever you may have arranged with the credit card company) to the other credit cards. When the first card is paid off ?” start putting the same monthly amount toward the second card in addition to the minimum payment. For example, if you were paying $200 every month to credit card A and $50 per month to credit card B and $30 per month to credit card C. Once credit card A has been paid off ?” then start paying $250 to credit card B. When credit card B is paid off ?” you can then make payments of $280 to credit card C. you can continue to do this with your auto loan and then your mortgage. When all of your debt is gone ?” you can put the amount of the monthly payments into a savings or money market account.

If you know your debt is out of hand and you may have difficulty making even the minimum credit card payments ?” be proactive. You should call your credit card companies and explain your situation. It’s in there best interest to work with you and almost always ?” they will find a solution to the debt problem that is mutually beneficial. Then put these practical ways to get out of debt into action and you’ll be amazed at the results. Debt relief is just around the corner.



Caroline