Paul Sarwana asked:
With the way the economy is today, it is no wonder that people with credit cards have maxed out the cards. They are left with little to no money to work with to pay off their debts and they are getting buried with late fees and finance charges. In some cases credit card companies will send settlement offers to people to try to clear off the debt. If you talk with the companies directly you may be surprised as to what you can actually get. But, can you settle your debts by yourself?
The first thing that you need to do is get all of your credit card in order and get all the account info for each card: contact number, account number, amount owed. By seeing exactly what you can afford to put on each card you will have a starting point to go with for paying off all of your cards.
The next thing you will want to do is write down what you want to say. This will help you to stay on track when you talk with their representative. Anytime you speak with the creditors about settling the debt, you want to ask for the offer in writing. This way you have a written record of what was offered.
If you are stuck as to what to say to them when they call you can go with a simple script that lets them know that you are unable to pay them at this time but that you will have a lump sum of cash on a certain date and that you would like to settle your credit card bills. Then let them know that you will use that lump sum of cash to pay which ever company can give you the best deal. Do this with each card and see what deals they will give you.
You can expect to get offers in the amount of 25 to 35% off the total amount due. If you want to learn how to negotiate with the creditors you will be able to pay off your credit card debts by working out a settlement on your own. However, if you don’t want to settle your debts by yourself there are a number of debt negotiation services that can help you get your debt settled for a much less amount then you owe with a reasonable fee.
Clyde
With the way the economy is today, it is no wonder that people with credit cards have maxed out the cards. They are left with little to no money to work with to pay off their debts and they are getting buried with late fees and finance charges. In some cases credit card companies will send settlement offers to people to try to clear off the debt. If you talk with the companies directly you may be surprised as to what you can actually get. But, can you settle your debts by yourself?
The first thing that you need to do is get all of your credit card in order and get all the account info for each card: contact number, account number, amount owed. By seeing exactly what you can afford to put on each card you will have a starting point to go with for paying off all of your cards.
The next thing you will want to do is write down what you want to say. This will help you to stay on track when you talk with their representative. Anytime you speak with the creditors about settling the debt, you want to ask for the offer in writing. This way you have a written record of what was offered.
If you are stuck as to what to say to them when they call you can go with a simple script that lets them know that you are unable to pay them at this time but that you will have a lump sum of cash on a certain date and that you would like to settle your credit card bills. Then let them know that you will use that lump sum of cash to pay which ever company can give you the best deal. Do this with each card and see what deals they will give you.
You can expect to get offers in the amount of 25 to 35% off the total amount due. If you want to learn how to negotiate with the creditors you will be able to pay off your credit card debts by working out a settlement on your own. However, if you don’t want to settle your debts by yourself there are a number of debt negotiation services that can help you get your debt settled for a much less amount then you owe with a reasonable fee.
Clyde
