Credit Debt?

I have under $5000 in debt, and I want to make payments, but the payments I can afford, are not even covering the interest I am being charged. This debt was written off as bad debt, and killing my credit along with my debt growing. Does anyone have ideas in ways to get this debt lowered, by negotiating? The majority of the debt came fom Capital One and the agency who now has the account said that they will not negotiate a payment plan with me, per Capital One's requirements. They will work with me on a payoff, but I cannot afford the payoff. Any ideas out there?

Responses:

Contact me. My brother works for a company that "eliminates all credit card debt" in other words, pay a fee significantly less then the credit card debt and you will not owe the credit card company a dime. take a credit card cash advance to pay the fee LOL. There will be no damage to your credit rating!
cotact this debt settlement company immediately debtfreeafterall.com Your debt of $5000, 00 will be negotiated with your creditors and reduce it down to approx $3, 000. 00. You can make minimum monthly payments and can become debt free before 12 months. Capital One offers very good settlement. Make a wise decision Good Luck
Credit Card Debt Management: Credit cards are a great source of availing credit to meet your requirements. But they can lead to a debt trap from which you will find it difficult to come out. Hence you need to keep a close watch on your credit card expenses minutely
I have never heard of a collection agency that would not accept a payment plan that you can afford. Part of the problem here is that you are accruing more debt the longer you go without paying as they are continuing to add interest to it. You need to call them back. Tell them what you can afford and work out a payment plan with them. Most of them will also negotiate a lower interest rate with you too. One other thing you might want to try is to call Capital One and see if you can negotiate something directly with them. Whatever agreement you do get with them regarding repayment, get it in writing. Go to the FTC website and read what your rights are under the Fair Debt Collection Laws. If you believe they have violated any of the laws, report them. link below I do not know what state you are in but often time, the Salvation Army or United Way in your area can recommend a good credit counselor that can help you. I hesitate to recommend a lot of the credit counselors out there because unfortunately, many of them are scam artists that will put you even deeper in debt but a good one can be a Godsend. They will contact the collection agency on your behalf and stop the har ing phone calls. They will also negotiate a payment plan that you can afford with a lower interest rate but be very careful in finding a credit counselor. Call one of the above agencies and ask them if they can recommend someone. PS - I just went to the Department of Justice to see who the approved credit counselors were for Bankruptcy and I am in no way recommending that you file bankruptcy - I just knew they had an approved list. CCC America seemed to pop up all over the place so you might try their website. link below I am also giving you the Dept. of Justice link as it gives all of their approved counselors by state. Good luck. I hope this helps
You have found yourself in the same boat as the vast majority of Americans. We are living in a time when banks control the populace. "Give me control of a nation's currency and I care not who p es the laws. " - Lord Rothschild One of the framers of our Federal Reserve. Do not get involved in "Debt Elimination" schemes as by far the vast majority do not work. The best avenue is to slap fines against the collector for FDCPA violations. We do this everyday. Most will have violations exceeding the total amount of the debt. Therefore, in their best interest to zero that debt out. Try to "invalidate" the debt and chances of winning are slim to none. For more info, visit AttorneyDebtHelp.net. You may be surprised at what you find. We also offer a FREE no obligation consultation with a licensed attorney
First there is no 'quick fix'. However, relatively speaking, having under $5000 in debt is something you can get under control, but it will require some work. Since you have noted that a settlement is not an option, it is good to know that you are willing to make payments. First submit a letter to the collection agency and a copy to the original creditor requesting a moratorium on your account for a specified period of time. Usually 3 to 6 months. In your letter state your dire situation and that their istance will be greatly appreciated. In your letter offer your proposal. Suggest that at the end of the moratorium you will submit a percentage of the total amount due, usually 10% to 20% as a down payment and the remainder to be paid in full within a specified period of time. In your case 36 months should be reasonable. Asking the original creditor, in writing, to 're - age' your account is yet another option. What this means is to submit a letter to the original creditor suggesting that you are willing to begin making monthly installments again if they will agree to remove your negative mark on your credit report and to make your first payment reflect on your credit report as your first payment. All correspondence should be mailed Certified - Return Receipt Requested. Start a file for all letters sent and received. DO NOT make any offer that you cannot afford. If they accept your offer and you should not be able to meet the terms of the agreement, you may be in a worse situation. Reality has to set in. What I mean is that if you do not have enough income to pay what you owe, it may be time to consider a part time job. Maybe overtime is offered at your current job that you may be able to take advantage of. The point to keep in mind here is that if you do seek a part time job it should only be temporary. Who knows, you may even enjoy the extra income after you pay off your debt. You can realistically earn $100 extra or more per week. Which amounts to $5200 in 1 year
The attached website has excellent information on dealing with credit card companies and negotiating a new payment plan. do not let the collection agency bully you they will negotiate. Check the website for some information that will give you some power in negotiating. Hope this information is helpful

Tags: scam, consultation, monthly, enjoy, cotact

Follow this dicussion..

Related Images:

Knowledge Base

Is it true checking my credit report can lower my credit score?

is any of that true? can just having a my credit report and checking it often affect my score? can any thing i do except pay my bills affect it in a positive or negitive way? i worry about checking it and do not fully understand how it works and (true credit)

How do I get a free annual credit report?

i have heard that you can get a free anuual credit report online. is that true? and if so, which companies provide these free credit reports online?. annualcreditreport.com / cra / errorstate?date=&from=landing it's best no to give card#. annualcreditreport.com this is the only government sponsored website where they are absolutely (free credit report)

Will transferring my credit debt to a 4th credit card hurt my FICO score?

will transferring my credit debt to a 4th credit card hurt my fico score? the apr is killing me on two of them. yes. credit cards balance over 35% of total available balance will hurt your credit and so will total high revolving debt as in credit cards and department (free credit report)

Related Images:

Knowledge Base: Credit

How can I get a free credit report online?

i do not want to give out any credit card information. is there a web site that will give you a free credit report online without credit card info?. annualcreditreport.com free once a year from all three big bureaus. annualcreditreport.com. there is only one place. the government allows you to (credit scores free)

How do i get free credit score or report?

is there a way to get a free credit report? i heard everyones en led to 1 free report, state by state?. annualcreditreport.com note that "freecreditreport.com" is not free you have to sign up for their credit monitoring. annualcreditreport.com is free, and you can get 1 per year. you can (credit)

Credit debt. ?

im a college student who is having the hardest time digging my way out of this credit debt. paying this off is enabling me to save money to move out. i make enough money to move out, but i could not afford rent along with paying off 3 credit cards (credit)

credit debt?

i do have good credit, but now i am at the point where i work to "just" pay bills. my paycheck is not even enough. i only make the minimum payment and it is not helping at all. i just want to know if anyone has any advice on how (free credit report)

How you get free credit score or report?

is there a way to get a free credit report? i heard everyones en led to 1 free report, state by state?. freecreditreport.com. you automatically can request one if you are denied credit. also freetriplescore.com. freecreditreport.com gives you one freebie, then you have to pay. if you are looking for (free credit report)

Related Images:

Knowledge Base: Credit Debt

How to handle bad credit debt thats almost 10 years old but it still shows up on my credit reports?

i have atleast 4 major credit debts that was in the early 90's i thought bad debt only remains on your credit for no longer than 7 years its almost over 10 years but they still show up on my credit reports. is there anything i can go legally to (credit debt)

credit debt?

If I pay off my total credit card debt of $75k will this increase my credit score?

hello, if i pay off $75k which is my total amount of credit debt, will this increase my credit score? i am revising this question i just asked earlier. i have no other revolving debt than this. i am sorry for the lack of information in the previous question. thanks (credit debt)

Credit Debt?

i have under $5000 in debt, and i want to make payments, but the payments i can afford, are not even covering the interest i am being charged. this debt was written off as bad debt, and killing my credit along with my debt growing. does anyone have ideas in (credit debt)

How to get a loan to pay off old credit debt?

about 6 years ago i had alot of credit and let it all go. i thought it went away after 7 years, but that is not true. all they do is keep selling it to other companys. well i just got summons to court for an old debt. so how (credit debt)