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    I used to work for a credit card company and collected on the people that went through credit counseling.
    This is how things worked where I was at…
    Every day we would get proposals from the Cr Counseling that requested interest lowered or stopped, and proposed a reduced payment.
    I had a set guideline on interest and minimum payment amount.
    I checked the appropriate boxes and calculated the payments amount and accepted or declined them.
    Then the account had to be set up in the system and the proposal returned to the agency.
    Some days I would get 2 proposals, others would be 200.
    I was 1 of 4 people that worked the mail so you can imagine it took us a while to get it done.
    It just dpeends on their process.
    I hope this helps.



    Someone was asking about a settlement payment and only paying 65% or 45%.
    I am confused what does that mean.
    If you don’t pay on your debt or credit card and then ask to settle, you can settle for less? I need some advice as to what routes I can take to get myself solvent again.
    My job pay is taken up every month to pay all the bills leaving little for any of the irregular payments that happen like insurance payments or payments to have the propane filled, etc.
    I owe my own home, a single mother of 2, I am paying on a truck (that I use mostly for my hobby farm), a car and a large credit card bill.
    I can no longer continue at this rate and need to make some changes.
    I have to high of a debt to asset ratio.
    I do have a retirement account for being a teacher but to take that out, I would lose half of what it is worth.
    Are there any feasible solutions out there without filing for bankruptcy or the like? Thanks



    === I originally was going to file bankruptcy and decided to try and pay off our debts the the Wallet Doctor way.
    When I spoke with one of my creditor’s, I was told that if I was 90 days or less past due then I could possibly settle for 65% of the total debt.
    If I was more like 120 days past due, I could possibly settle for 45% of the debt.
    I was not planning on not paying but it was suggested that since I might be in a position to settle in a few months that I could hold off paying.
    I will use what I would have put towards that debt to pay on my next smallest debt.



    Has anyone tried using 2 checking accounts with any success? I thought about using one for bills and the other for weekly expenses such as gas, stuff my daughter may need, my husband’s copenhagen, etc.
    I feel like this way we won’t have to be constantly worried about whether we have taken too much before the bills are due etc.
    Also it will help certain ones of us to realize that my paying the bills isn’t always what leaves us broke! I am hoping that things will change now that we have refinanced our house and dear hubby seams a little more interested in where the money goes.
    Thanks for any input you may have! God Bless! Susan



    Need to refinance an ARM Currently have 4 active credit cards– all are at 80 percent or more.
    Just got one of those offers from citi financial – come get $6500.
    Thinking about taking it to pay all CC to under 39% (which is the level I was told triggers the credit report number to go down) That also will allow us to do some floor and roof repairs that are needed pre refi.
    Has anyone done this? The credit charge is way to high but there is no prepay penalty and it would let us get things done to get a fixed rate morg at a better rate….
    Thanks for any info/ suggestions Karo



    Terry, you may want to go to [MOD EDIT: URL removed]



    A home is a secured debt and a credit card is an unsecured debt.
    I would pay my mortgage and “charge off” the credit card.
    Then I would try to sell the home and if/when that happened I would pay off the credit cards.
    A charge off on a credit card might hurt your credit but it’s not as bad as a bankruptcy.



    New to the forum ..
    hi ya’ll! Things are getting tighter and tougher with every pasting day .
    BUT we must be smart where every penny goes …
    When we have learned from experience it is only right that we share .
    That is how we become stronger as a people.
    Also pay your mortgage, but don’t charge off your credit cards…
    It does hurt your credit as bad as a bankrupty don’t kid yourself! First try to call your Credit co.
    and move your debts to one cardif possible with the lowest rate…
    and keep doing that until you have all debt on one card …
    mean while write or cal them and explain your hard time so that it is in your file that you are communating with them , and even if you only have 5 bucks to send to each one , at least you are paying on your bill every month .
    AND stop spending !!!! We paid off 10,000 this way and my credit is perfect ! Charge off’s make it hard for you to buy , rent or anything in the future for years and years and new cards or old ones will not be so easy to get at a lower rate .
    Most of our cards are at 1.9 3.9 and the highest 5.9%.
    If they offer the 1.9% for the life of the debt , take it !!! bounce your balances to get your interest rates under control is key .
    That extra interest is the extra payment to help you get a head.
    And start selling things you don’t need .
    American is cluttered and so are our homes !! Clean out ,, cash in and get the debt under control …
    You can not believe how good it feels ! sammy



    Unless she really wants to give up her house I would go with the credit card debt first.
    Unsecured debt is much easier to settle and if the mortgage is paid on time she could probably keep the house even in bankruptcy as long as her equity in the house doesn’t exceed your state’s homestead exemption and almost certainly if she only settles her unsecured debt outside bankruptcy.
    Of course her credit report will be messed up and she will have to try and do some credit repair process afterwards.



    thank you for your information!!! She is going to check into that.



    This is true.
    I just read a bunch of stuff about this at Bankrate.com They have alot of information on this and prioritizing your debts and what you should worry about and what you should’nt.



    we are only a week late in paying our mortgage, and this is the first time that we have been late, ever, in the 2 years that we have had the mortgage.
    my question is, the mortgage company has called my work to ask about payment.
    And what really makes me mad is that I was not here to answer the phone, so one of my co-workers took a message.
    Can they do that? Thank you



    From what I understand creditor can leave a messege to have contact them and about what they can not be specfic about you being late.
    Brian Sent on the Sprint� Now Network from my BlackBerry�



    What did the message say? we are only a week late in paying our mortgage, and this is the first time that we have been late, ever, in the 2 years that we have had the mortgage.
    my question is, the mortgage company has called my work to ask about payment.
    And what really makes me mad is that I was not here to answer the phone, so one of my co-workers took a message.
    Can they do that? Thank you



    What kind of message did they leave ? If they just left a message indicated their company name and asked you to call back, they are ok.
    If they left the message mentioning you were late for the payment, they violated Federal Fair Debt Collection Acts And you could complain them Cax

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