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Credit Debt Help Plz . Need Advice?
robert
post Nov 2 2010, 02:20 AM
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Can a person achieve these credit card debt settlements on their own or do they need to hire a debt reduction professional to get out of the credit card debt?
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forthecause
post Apr 9 2011, 05:51 PM
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QUOTE (robert @ Nov 2 2010, 02:20 AM) *
Can a person achieve these credit card debt settlements on their own or do they need to hire a debt reduction professional to get out of the credit card debt?


Believe me, a person can do it on their own. I run Affordable Financial Solutions, LLP (a collection agency). If a person calls me and tells me their circumstances and wants to work something out with a settlement, I'm actually more likely to give them a better settlement than a debt settlement agency calling on their behalf.

The only thing I tell these people calling looking for settlements is that I value honesty above all. So if they tell me they don't work, then I investigate them (skiptrace) and they do work, they just lost out on a great settlement.

My suggestion is to call the collection agencies that have the accounts and tell them you have a fixed amount of money and are trying to settle as many debts as you can. Also, most collection agencies are more willing to settle closer to the end of the month than the beginning.

Hope this helps. -Eric


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dwheeler9889
post Apr 26 2011, 10:30 AM
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I actually came here looking for similar advice--so thank you for offering this tidbit of information up.


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forthecause
post Apr 26 2011, 10:38 AM
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QUOTE (dwheeler9889 @ Apr 26 2011, 10:30 AM) *
I actually came here looking for similar advice--so thank you for offering this tidbit of information up.


You're very welcome smile.gif


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forthecause
post Apr 27 2011, 10:31 PM
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QUOTE (worldbestloans @ Apr 27 2011, 09:36 PM) *
You need credit debt help when you feel like you are in a financial prison. All of a sudden, you can no longer do your normal activities such as go out to eat, pick up a new wardrobe, or even go to a movie without having to worry about increasing your debt or using cash that could have been used to pay down your credit card bills.

Before you can figure out how to get out of credit card debt, you have to understand the reason why you are in your current situation. Most financial planners and consultants tell you that there are major causes why individuals fall behind in paying their bills.

Emergency situations do occur in our lives. If you are currently in debt and an event such as finding out you have cancer, your spouse demanding a divorce, or getting sued complicated the situation. The problem isn't how you spend your money, it is more on where can you get additional funds to finance your monthly bills.

Credit debt help is available to you if you like to extricate yourself from the grips of this problem. The first step is to pay off your high interest credit card debt then stop the blame game and accept responsibility for your own financial life and take control over your credit card debt. Seek for the assistance of experts if you feel that you cannot follow the do it yourself procedures available.

If you carry excessive unsecured debt, your main three options are:
1. A loan.
2. Credit counseling service or
3. Debt elimination.


Um.. ok?? Not to toot my own horn, but I like my advice better, lol. This really doesn't answer the persons question. And why would you say a ccs company is better?

This post has been edited by forthecause: Apr 27 2011, 10:59 PM


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creditguard
post Sep 7 2011, 04:10 AM
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QUOTE (forthecause @ Apr 28 2011, 02:31 AM) *
Um.. ok?? Not to toot my own horn, but I like my advice better, lol. This really doesn't answer the persons question. And why would you say a ccs company is better?


You don’t need to hire a debt reduction professional to get out of the credit card debt, there are many companies how provides help on debt management and related services.
i think he suggest ccs company because ccs give better advice, but there are thousands of company and they provide their services best as they can. Some companies have better experience and Non Profit credit counseling.


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naomibatac
post Dec 28 2011, 05:24 AM
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Yes, you may do your own credit card debt settlements. First, you must make an assessment of your debt situation. Try to negotiate with the credit card issuers to lower the interest rate. Look for a consolidation or transfer card in order for you just to handle one account. Figure out the best amount that you can afford to pay each month and negotiate for that amount as your monthly payment. Avoid making big purchases and create a budget for your daily expenses.


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Guest_ProInvestorErik_*
post Dec 30 2011, 10:43 AM
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What if person owns a business and he's in huge debt with big % which he or she can't pay. what's the best option here?
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Pkjohn
post Jun 23 2012, 01:12 AM
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Debt is a major problem in uk especially credit card debt. The interest of a credit card debt is basically high approximately 10-30% APR. So it is very difficult to pay down personal debt. So, it can be said that getting out of debt is very difficult work for people. But fortunately it can be easier after follow the below process:

1. Make a list each of your credit card including interest rate and minimum payment through your last monthly statement.

2. Put your highest interest rate credit card at top and lowest at bottom.

3. Calculate your total minimum payments.

4. Take a look at your list and compare how much extra you can pay each month in addition to the minimum.

5. As your payment come due pay the minimum on each credit card except for the one at the top.

6. Continue this process until the first card is paid off.

7. Repeat this process until all credit cards are paid off.


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bensonmtkg
post Jun 27 2012, 06:34 PM
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A few of years ago I had found myself in a similar situation mostly from making some bad choices and investing with credit card funds versus real money. I called the companies explained the situation and all except one helped me in one way or another. You may not always get exactly what you are looking for but some help is better than no help at all. The first step is to make the call and like the other person mentioned be honest. Lying only gets you in more trouble later so best to stick with the truth. The truth is not always pretty but its real and you can't beat that.



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ShadowWolf
post Oct 2 2013, 05:25 PM
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The key to debt reduction is to figure out which cards are charging you the highest annual percentage and then roll that debt into a new (no interest or low interest) credit card and pay off the balance before the introductory APR rate expires. For instance, if you are paying 20% on a high interest credit card, rolling that into a zero percent card will save you so much money and can easily be put toward paying the debt of another card.


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James Martin
post Nov 17 2014, 09:20 AM
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There are six easiest ways through you can get rid of your credit card debt for the purpose of debt repayment. You must remember when you are going to pay your debt then you are not completely in charge of money. Actually, somebody is telling you about how and where to spend this money. You should follow these 6 ways to close your credit card debt.

Approach the damage:

You should not hide from the debt and should check out your financial condition. I can understand that it is very easy to but you should calculate the damage and develop the strategies how to remove it.

Divide and rule:

There are lots of some other techniques that can be used for debt recovery. You should divide your debt from 12 and should focus to pay off that money each month.

Push hard yourself:

You should try to earn extra money and pay every single dollar for credit card debt recovery. You need to do some mini jobs like pizza delivery, newspaper delivery or sale products on eBay. This will participate in your debt recovery mission.

Give priority to your debt:

You have the agreement to pay 10% interest for your credit card loan. You should not think about the investment, actually you should give priority to your debt on all things. First, you repay your debt, and then think about other things.

Keep paying it off:

Look, you might have been able to repay off the huge quantity of debt every month. You should keep paying it (well, you should not give it to traditional bank associated with America, that’s simply just foolish), and also you will watch your savings grow. You just put the payment you had been paying toward the credit cards directly into a savings account at other economic institutions, and make it more difficult to withdraw from that account.

Check your score:

You should keep track of the credit score via working up for something such as credit Sesame, a great free support that sends an individual notices every date the credit score changes. This will motivate you as you will pay off your credit card debt, you will get more notices and your score will increase.


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david wilson
post Nov 17 2014, 09:40 AM
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You can pay off your debt by creating a budget plan and also reducing your expenses during debt repayment.


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