PostHeaderIcon Which option is more advantageous – consolidating credit card debts or negotiating with each creditor?


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I have close to 20k of unsecured credit card debt from different creditors. Some of them have been willing to cut the balance in half in order to settle the account. Should I attempt to individually settle with them? Or do I take out a consolidation loan for 20k?

3 Responses to “Which option is more advantageous – consolidating credit card debts or negotiating with each creditor?”

  • SPIFIMAN1 says:

    I went through this about 10 years ago after my late Wife passed away and I went for the settlements, it saved me several thousand dollars.

  • Plano Planet Gurl says:

    If the creditors are willing to work with you, work with them. I don’t believe that people solve debt problems by obtaining more debt.

    ::Atleast they are willing to settle with you, I am going through a similar problem, though I owe much less, and the creditors will not work with me because I don’t owe them enough::

  • Ask M says:

    do iy yourself for free

    http://www.creditinfocenter.com
    buddhibbs.com

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