Friday, April 17, 2009
Banks are reporting better-than-expected earnings this week, but experts say the next problem might involve credit card defaults. Tess Vigeland talks to credit counseler Gail Cunningham about helping consumers work through their debt.
Buried in debt (iStockPhoto)
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From Avondale Estates, GA, 04/20/2009
Some years ago I went to Consumer Credit Counseling to get my debt off my back. I paid it all off. Now a couple of things- doing this will still put a bad mark on your credit for 7 years because you are not paying the interest
You also pay a "donation fee" to have it done. Not all creditors will agree to doing this with you
I cut up all of my credit cards but one sometimes needs one for emergencies.
Just think about it and get all of the information that you can about the process and also make sure you are dealing with a reputable company before signing any papers.
From Louisville, KY, 04/20/2009
I began a debt management plan towards the end of 2008. When discussing it with my parents, they offered to pay off all of my debts now and then I would repay them. While it was a tempting offer, I ultimately decided that I needed to go through the pain of repaying my debts so that I won't repeat my credit mistakes. 6 months in, I feel I'm finally making progress.
From Los Angeles, CA, 04/19/2009
Hi Lilian,
There are a few websites out there which can help your friend make a decision. I have found a lot of help on this forum:
http://www.debt-consolidation-credit-repair-service.com/forums/
Best of luck.
From chulavista, CA, 04/18/2009
A very close person is about to declare bankruptcy. His debt is about 60 thousand dollars collector have been calling and calling. I tell him get counseling what you can do. He want to do it but with a serious institution. Where will be convenient to help help?
From chulavista, CA, 04/18/2009
A very close person is about to declare bankruptcy. His debt is about 60 thousand dollars collector have been calling and calling. I tell him get counseling what you can do. He want to do it but with a serious institution
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