Hey guys, I'm new here and I've been doing a lot of reading and searching for the past couple days. I have a couple questions now.
I have about 10,000 in credit card debt and for reasons which I won't go in to right now, I messed up and when the bills were too much, I just stopped paying altogether. I know now it was dumb, but it's been almost a year now and I just don't answer their calls. This has got to change obviously, and I need to get myself out of debt because ignoring it will get me nowhere.
Pretty much all of the debt is with a CA now, and I am considering debt settlement. I am also considering trying to settle with the CA myself. Will CAs actually settle with me or are they going to just demand the money then and there?
If I contact a settlement company, will they be able to work with CAs or can you really only work with creditors such as Citi, WAMU...?
My cards are/were with Chevron, USAA, Citi, Credit One, and WAMU
By signing up a debt counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
Some creditors and collection agencies refuse to lower the payoff amount, interest rate, and fees owed by the consumer.
Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.