I have between $11,000 and $12,000 worth of debt on 3 different credit cards. All of the credit card accounts have been sold to law firms. There is no way I can afford to make 3 different payments a month on these. What are my options? Should I go with one of those non-profit organizations to consolidate my debt? I do not own a home or any other property that could be used as collateral. I%26#039;m sure my credit is already shot so I%26#039;m open for all options.
Debt Consolidation.?
The accounts are now in the hands of law firms, so call those firms directly and negotiate a monthly payment and an interest rate. Ask how they calculate the interest in, like daily, monthly, bi-monthly, etc. Do NOT sign anything yet. Get info from the non-profit credit counselors also.
They want the money paid, pure and simple. They should be willing to go rock bottom on a monthly payment to avoid you declaring bankruptcy Chapter 7 and end up with nothing.
Debt Consolidation.?
What i did was filled bankruptcy. chapter 7
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