England Chick asked:


I am young and went a little over on my credit cards. I have about four credit cards and it equals up to about $4000.00 they are already in collections and are closed. Due to me being out of work and having some other personal problems I wasn’t able to pay anything for several months. I was lucky and was able to save a little over a thousand dollars from working two jobs. I want to call them to try and settle one company already sent me a letter saying I could settle for about a hundred and I owed six hundred. How should I go about settling with the other credit card companies?

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England Chick asked:


I am young and went a little over on my credit cards. I have about four credit cards and it equals up to about $4000.00 they are already in collections and are closed. Due to me being out of work and having some other personal problems I wasn’t able to pay anything for several months. I was lucky and was able to save a little over a thousand dollars from working two jobs. I want to call them to try and settle one company already sent me a letter saying I could settle for about a hundred and I owed six hundred. How should I go about settling with the other credit card companies?

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gssmm asked:


I recently suffered an illness, lost my job, have several credit card balances, could not keep the payments up, tried to work an arrangement with the credit card companies, but that did not work out either. Now they are all in collections, my credit score is trashed, and short of filing bankruptcy (I do not want to do), I am getting offers to settle for half of the balance. I do not own real estate, but have recently came into some money, not a lot, but if I settle with the collection agencies, I was told that I should request they send me a paid in full as agreed letter first for the negotiated amount, and will help my credit score.
Is there proper way to do this that will eventually help my credit report??

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Hayden’s Mommy & #2 due Nov! asked:


I’m back in hope of getting some answers for my friend and her family. She is considering filing for bankruptcy, but we were discussing those companies that help you consolidate your credit card debt.

How do those “debt settlement” companies work? What is a name of a good one? Is there another way to consolidate your credit card debt? Don’t those companies let you pay less than you owe?

Sorry for the million questions! I know nothing about this topic. Thanks!

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clnelson22 asked:


We have some credit cards with high interest rates and we can’t afford to pay more than the minimum payment because the interest is so high.

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clnelson22 asked:


We have some credit cards with high interest rates and we can’t afford to pay more than the minimum payment because the interest is so high.

credit card debt settlement

gssmm asked:


I recently suffered an illness, lost my job, have several credit card balances, could not keep the payments up, tried to work an arrangement with the credit card companies, but that did not work out either. Now they are all in collections, my credit score is trashed, and short of filing bankruptcy (I do not want to do), I am getting offers to settle for half of the balance. I do not own real estate, but have recently came into some money, not a lot, but if I settle with the collection agencies, I was told that I should request they send me a paid in full as agreed letter first for the negotiated amount, and will help my credit score.
Is there proper way to do this that will eventually help my credit report??

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Hayden’s Mommy & #2 due Nov! asked:


I’m back in hope of getting some answers for my friend and her family. She is considering filing for bankruptcy, but we were discussing those companies that help you consolidate your credit card debt.

How do those “debt settlement” companies work? What is a name of a good one? Is there another way to consolidate your credit card debt? Don’t those companies let you pay less than you owe?

Sorry for the million questions! I know nothing about this topic. Thanks!

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