Comments on: I HAVE OVER 10,000$ IN CREDIT CARD DEBT, I HAVENT PAID IN OVER 3 MONTHS, SHOULD I CALL A DEBT SETTLEMENT CONSO? http://www.businessnwealth.com/i-have-over-10000-in-credit-card-debt-i-havent-paid-in-over-3-months-should-i-call-a-debt-settlement-conso/ Fri, 10 Sep 2010 04:33:35 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: God Is Good http://www.businessnwealth.com/i-have-over-10000-in-credit-card-debt-i-havent-paid-in-over-3-months-should-i-call-a-debt-settlement-conso/comment-page-1/#comment-526 God Is Good Mon, 28 Dec 2009 03:18:47 +0000 http://www.businessnwealth.com/i-have-over-10000-in-credit-card-debt-i-havent-paid-in-over-3-months-should-i-call-a-debt-settlement-conso/#comment-526 I am Mrs Mary Kent,currently living in New jersey city,USA.I am a widow at the moment with three kids and i was stuck in a financial situation by may 2009 and i needed to refinance and pay my bills.I tried seeking loans from various loan firms both private and corporate but never with success,and most banks declined my credit.But as God would have it,i was introduced to a man of God a private loan lender by name Mr Mikel Locke who gave me a loan of $50,000USD and today am a business owner and my kids are doing well at the moment.So dear,if you must contact any firm with reference to securing a loan with low interest rate of 3% and better repayment plans and schedule,please contact Mr Mikel Locke.He doesn't know that am doing this but am so happy now and i decided to let people know more about him and also i want God to bless him more.You can contact him through his email at mikellockelendingfirm@gmail.com I am Mrs Mary Kent,currently living in New jersey city,USA.I am a widow at the moment with three kids and i was stuck in a financial situation by may 2009 and i needed to refinance and pay my bills.I tried seeking loans from various loan firms both private and corporate but never with success,and most banks declined my credit.But as God would have it,i was introduced to a man of God a private loan lender by name Mr Mikel Locke who gave me a loan of $50,000USD and today am a business owner and my kids are doing well at the moment.So dear,if you must contact any firm with reference to securing a loan with low interest rate of 3% and better repayment plans and schedule,please contact Mr Mikel Locke.He doesn’t know that am doing this but am so happy now and i decided to let people know more about him and also i want God to bless him more.You can contact him through his email at mikellockelendingfirm@gmail.com

]]> By: Mia Jacob http://www.businessnwealth.com/i-have-over-10000-in-credit-card-debt-i-havent-paid-in-over-3-months-should-i-call-a-debt-settlement-conso/comment-page-1/#comment-525 Mia Jacob Mon, 28 Dec 2009 03:01:31 +0000 http://www.businessnwealth.com/i-have-over-10000-in-credit-card-debt-i-havent-paid-in-over-3-months-should-i-call-a-debt-settlement-conso/#comment-525 Debt Consolidation Loan is one of the most common solutions people think of when they fall into financial difficulties. Debt consolidation loans transfer debt from one place to another. While this may sound good, since many times it can appear to lower your monthly payments, a debt consolidation loan will not reduce the amount you owe. You will still pay back 100% of the debt consolidation loan, plus interest. The interest rate is sometimes lower than before, but this is because debt consolidation loans are usually secured loans that cannot be lowered or negotiated. Once you sign up for a debt consolidation loan, you have just gone from an unsecured debt to a secured debt and have put your personal assets (e.g. your car or home) at risk. At that point if you can't pay your bills your creditors can come and take your personal property - thus creating a bigger problem than you had to begin with. Debt settlement is a program designed for consumers with serious debt problems who are unable to maintain payment obligations and are considering bankruptcy or credit counseling. Debt settlement is the process in which you stop paying your creditors for some time and save that money so that you can then negotiate with them to settle the debt for a lesser amount. So it is better to seek help from any reputed debt settlement company. Such companies can handle it properly as they are experts in that field. Debt Consolidation Loan is one of the most common solutions people think of when they fall into financial difficulties.

Debt consolidation loans transfer debt from one place to another. While this may sound good, since many times it can appear to lower your monthly payments, a debt consolidation loan will not reduce the amount you owe. You will still pay back 100% of the debt consolidation loan, plus interest. The interest rate is sometimes lower than before, but this is because debt consolidation loans are usually secured loans that cannot be lowered or negotiated. Once you sign up for a debt consolidation loan, you have just gone from an unsecured debt to a secured debt and have put your personal assets (e.g. your car or home) at risk. At that point if you can’t pay your bills your creditors can come and take your personal property – thus creating a bigger problem than you had to begin with.

Debt settlement is a program designed for consumers with serious debt problems who are unable to maintain payment obligations and are considering bankruptcy or credit counseling.

Debt settlement is the process in which you stop paying your creditors for some time and save that money so that you can then negotiate with them to settle the debt for a lesser amount. So it
is better to seek help from any reputed debt settlement company. Such companies can handle it properly as they are experts in that field.

]]> By: Mrs Bola http://www.businessnwealth.com/i-have-over-10000-in-credit-card-debt-i-havent-paid-in-over-3-months-should-i-call-a-debt-settlement-conso/comment-page-1/#comment-524 Mrs Bola Mon, 28 Dec 2009 02:37:43 +0000 http://www.businessnwealth.com/i-have-over-10000-in-credit-card-debt-i-havent-paid-in-over-3-months-should-i-call-a-debt-settlement-conso/#comment-524 Good Day To You All. I want to Introduce My Company to you,I am Rev.Mrs Erica Motte,the Chief Executive Officer (CEO) of Erica Foundation. We are a reputable,legitimate & registered Company.Approved by the American and England Government,an Affiliate of the American Bureau of money lenders.We give out Loans to individuals in need of financial assistance at ones convienience with a reasonable interest of 2%. Do you have a bad credit or you are in need of money to pay bills? Services Rendered include: *Refinance *Home Improvement *Inventor Loans *Auto Loans *Debt Consolidation *Line of Credit *Second Mortgage *Business Loans *Personal Loans *International Loans Please write back if interested. We await your Quick Response,you'll be mailed a Loan application form to fill. No social security and no credit check, 100% Guaranteed. We Look forward permitting me to be of service to you. Sincerely, Rev.Erica Motte, Managing Director, Erica Foundation. E- mail us on usaloanfirm@ymail.com Thank you as I wait your response. Good Day To You All.

I want to Introduce My Company to you,I am Rev.Mrs Erica Motte,the Chief
Executive Officer (CEO) of Erica Foundation. We are a reputable,legitimate &
registered Company.Approved by the American and
England Government,an Affiliate of the American Bureau of money lenders.We
give out Loans to individuals in need of financial assistance at ones
convienience with a reasonable interest of 2%. Do you have a bad credit or
you are in need of money to pay bills? Services Rendered include:

*Refinance
*Home Improvement
*Inventor Loans
*Auto Loans
*Debt Consolidation
*Line of Credit
*Second Mortgage
*Business Loans
*Personal Loans
*International Loans

Please write back if interested.

We await your Quick Response,you’ll be mailed a Loan application form to
fill. No social security and no credit check, 100% Guaranteed. We Look
forward permitting me to be of service to you.
Sincerely,

Rev.Erica Motte,
Managing Director,
Erica Foundation.
E- mail us on usaloanfirm@ymail.com
Thank you as I wait your response.

]]> By: CatDad http://www.businessnwealth.com/i-have-over-10000-in-credit-card-debt-i-havent-paid-in-over-3-months-should-i-call-a-debt-settlement-conso/comment-page-1/#comment-523 CatDad Mon, 28 Dec 2009 02:10:32 +0000 http://www.businessnwealth.com/i-have-over-10000-in-credit-card-debt-i-havent-paid-in-over-3-months-should-i-call-a-debt-settlement-conso/#comment-523 NO!!! If you are already this far behind you don't need to pay someone to settle your debts. Once you go 3 months behind you are in a position yourself to attempt settlements. IMPORTANT: You really need to have money saved up to offer one-time lump sum settlement payments...or at least be able to pay a settlement really fast....like within 3 months. Creditors really aren't in the mood to offer you a 50% settlement if you can only pay it back in small monthly payments over several years. - In general...you really need to be 4 - 6 months behind to get settlements like 25 - 50%..but some might offer at 3 months behind. - Your creditors are under no obligation offer settlements and their response to your not paying might be to serve you a summons and take you to court. This could lead to wage garnishment. No debt consolidation firm has the power for force settlements. ------------ If you settle on your own: - Get all terms of any settlement deal you reach with debt collectors IN WRITING BEFORE you give them your money. This letter should state the settlement amount and that the account will be settled/paid in full upon receipt of this amount from you. Never accept settlement deals over the phone that are not backed up in written terms. If you don’t, the debt collectors will deny that any settlement was ever made once they get your “settlement” money and will come back demanding more money from you. - NEVER give out your checking account/bank routing numbers to debt collectors for making electronic debit payments. Pay only via USPS money order. Photocopy and keep in your permanent records along with the settlement letter. - Settled/forgiven debt is treated like earned income by the IRS....You’ll have to add the forgiven debt to your income on next year’s income taxes and pay whatever additional taxes on that. NO!!! If you are already this far behind you don’t need to pay someone to settle your debts. Once you go 3 months behind you are in a position yourself to attempt settlements.
IMPORTANT: You really need to have money saved up to offer one-time lump sum settlement payments…or at least be able to pay a settlement really fast….like within 3 months. Creditors really aren’t in the mood to offer you a 50% settlement if you can only pay it back in small monthly payments over several years.
- In general…you really need to be 4 – 6 months behind to get settlements like 25 – 50%..but some might offer at 3 months behind.
- Your creditors are under no obligation offer settlements and their response to your not paying might be to serve you a summons and take you to court. This could lead to wage garnishment. No debt consolidation firm has the power for force settlements.
————
If you settle on your own:
- Get all terms of any settlement deal you reach with debt collectors IN WRITING BEFORE you give them your money. This letter should state the settlement amount and that the account will be settled/paid in full upon receipt of this amount from you. Never accept settlement deals over the phone that are not backed up in written terms. If you don’t, the debt collectors will deny that any settlement was ever made once they get your “settlement” money and will come back demanding more money from you.
- NEVER give out your checking account/bank routing numbers to debt collectors for making electronic debit payments. Pay only via USPS money order. Photocopy and keep in your permanent records along with the settlement letter.
- Settled/forgiven debt is treated like earned income by the IRS….You’ll have to add the forgiven debt to your income on next year’s income taxes and pay whatever additional taxes on that.

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