I make my payments on time every month to my cards, but wont be able to soon.
I have reached out to my 2 credit cards numerous times telling them I may file for bankruptcy and they wont get anything, and asking for them to lower interest rate so I can make my monthly payments and actually see my balance go down instead of mostly toward interest. I was refused on any time of payment plan, settlement offer, or interest rate reduction.
NEXT: I spoke at length with Take Charge America, who will set me up on a 5 year payment plan (after the banks negotiate with THEM apparently), and I will pay off my full balance in 5 years, along with about k in interest and 00 or so in fees to the company. Cards will be closed.

OR: I use Credit Solutions and I default on my cards so they can negotiate with the banks on my behalf and present me with settlement amounts which could be half if not more of the balance! I pay them 0. for 18 months and my debts to cards is paid within 36 months, if not sooner, at almost k less than what I owed.

BUT: Credit solutions has many scary reviews online. I spoke at length with 2 of their reps and they explained the process to me and it sounds like garden variety debt settlement, so.. i dunno. Which company? Anyone have any experience with either?

I also just called the collection dept. of my cards again and told them all this, can THEY offer me a settlement or payment plan so that there are no 3rd parties and the bank gets their money. They said nope, sorry. So i am kind of backed into a corner of having to use one or the other

Technorati Tags: bankruptcy, banks, company cards, credit cards, credit solutions, debt settlement, debts, garden variety, interest rate reduction, money, settlement amounts, take charge america

I make my payments on time every month to my cards, but wont be able to soon.
I have reached out to my 2 credit cards numerous times telling them I may file for bankruptcy and they wont get anything, and asking for them to lower interest rate so I can make my monthly payments and actually see my balance go down instead of mostly toward interest. I was refused on any time of payment plan, settlement offer, or interest rate reduction.
NEXT: I spoke at length with Take Charge America, who will set me up on a 5 year payment plan (after the banks negotiate with THEM apparently), and I will pay off my full balance in 5 years, along with about k in interest and 00 or so in fees to the company. Cards will be closed.

OR: I use Credit Solutions and I default on my cards so they can negotiate with the banks on my behalf and present me with settlement amounts which could be half if not more of the balance! I pay them 0. for 18 months and my debts to cards is paid within 36 months, if not sooner, at almost k less than what I owed.

BUT: Credit solutions has many scary reviews online. I spoke at length with 2 of their reps and they explained the process to me and it sounds like garden variety debt settlement, so.. i dunno. Which company? Anyone have any experience with either?

I also just called the collection dept. of my cards again and told them all this, can THEY offer me a settlement or payment plan so that there are no 3rd parties and the bank gets their money. They said nope, sorry. So i am kind of backed into a corner of having to use one or the other

Technorati Tags: bankruptcy, banks, company cards, credit cards, credit solutions, debt settlement, debts, garden variety, interest rate reduction, money, settlement amounts, take charge america