Debt Consolidation Forums Debt Consolidation and Debt Settlement forums
Question about Debt Settlement
Thu, 07/10/2008 22:38
Hi, Sadly because of the recent WGA Writers Strike in Hollywood and a recent work injury I totally overextended my credit over the last 9 months. I have close to 80,000 I owe to credit card companies. I just signed up for debt settlement and wondering about keeping a few credit cards with small balances that I kept from going delinquent. All the others are 90+ days late. I was planning on paying them off as they have low balances so I will still have cards for emergency purposes, but my Debt Settlement company said it will be detrimental to me as the companies I owe money to might not offer the lowest payoffs since they feel I still have other credit cards I will use. Does this sound right to you?