PostHeaderIcon What is the best solution for unsecured credit card debt?


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No home ownership
debt settlement vs. consolidation?
Too many companies to choose from & they all boost their offers! Scam or legitimate?

4 Responses to “What is the best solution for unsecured credit card debt?”

  • Wounded Duck says:

    pay your bills, slacker!

  • tj t says:

    credit guard

  • Studly says:

    Could use more info, such as how much income you have and what sort of debt we are talking about?

    Bet better of the two is consolidation. But the big danger is that you MUST get control of your credit spending. Over the past few years, many people have been suckered into the consolidation game. They clean off their credit cards into one debt, then turn around and run up the credit cards again. Now they are in twice the debt, and their only hope is bankruptcy. Last year many thousands of people filed for this very reason.

    Debt settlement in my opinion is a scam. These companies are offering you services that you can easily do yourself. The problem is trying to get the credit card companies to work with you. Most of them are jerks.

  • davidmi711 says:

    If I understand your question, you are having difficulties making the monthly payments on your credit card debt. Consolidation is not really a good answer because your credit score is probably pretty low right now and if you can get one your interest rate will be pretty high. You also have those credit cards still available and you could (and most people that go this route do) end up running up the credit cards again. Now you have twice the debt and no solution.

    There are a bunch of scams out there and a lot of people that will try to rip you off under the guise of repairing your credit. Go with a reputable organization that will help you and not rip you off. I have worked with Consumer Credit Counseling Service for a couple years and they have been great. Check them out at: http://www.cccsintl.org/

    They can help you work with your creditors to reduce payments and interest and they have educational information to help you to manage credit better.

    Good luck!

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