I am 40,000 in debt with credit cards, I have never missed or made a late payment, however it seems like it will take me forever to pay it off, will using a debt settelment program mess up my credit ?
Should I use a debt settlement program to clear my unsecured debt?
ouch. best bet is to hide the credit cards for now (or only just use one mainly... but only for necessaties) and just continue to pay while spending less. debt settlement programs show up on credit reports and actually hurt you a lot worse than just paying your debt off regularly (i%26#039;ve had people tell me its almost as bad as seeing a court ordered repayment or a bankrupt in your file). reason is it is shown that you arn%26#039;t responsible enough to lend money to as you need help paying it off (plus costs more in fees for their services). on top of that you would have to find an actually %26quot;real%26quot; debt settlement which is like in the less than 10 percentile as them being real.
Should I use a debt settlement program to clear my unsecured debt?
Unless your debts are SERIOUSLY in default (no payments for years), the creditors won%26#039;t reduce your balance by a significant percentage. Get a part time job delivering pizza an you can pay off the cards in 2 years.
Should I use a debt settlement program to clear my unsecured debt?
Actually yes. You won%26#039;t be paying back the debt as agreed. Here is the link to the Nation Consumer Credit Counseling Service. You will find all the information you need on their website. http://www.nfcc.org/
Should I use a debt settlement program to clear my unsecured debt?
Consolidate the accounts and cut up your credit cards. As long as you%26#039;re able to make your payments, a debt settlement arrangement might just end up costing you more.
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