Debt Negotiation Zone » creditors

Why are credit card companies assholes?

admin — Fri, 17 Apr 2009 19:07:34 +0000

Credit card companies are assholes mainly because that are only interested in making money off of you. They don’t care if you get sick or lose your job, they just want your money. Credit card companies are not your friends. I looked in my wallet the other day to see what I was carrying around in there. Visa, master card, discover, chase, bank of america, I have them all. They don’t do anything for me except charge me money.

You are better off to live on a cash system or use a debit card. You will be a lot happier not having bills to worry about paying each month. There is no price on peace of mind. Don’t be a slave to your creditors, don’t go into debt. I don’t care how much you want something.

Debt Free is the way to be.

Can I Go To Jail If I Don’t Pay My Credit Card Bills?

admin — Tue, 28 Oct 2008 02:55:43 +0000

Can you go to jail if you do not pay your credit card bill? No, If you stop paying your credit cards, your life will become a lot more difficult. The first thing that will happen is that your credit score will drop like a rock. A few late payments can drop your fico score as much as 200 points. Your credit card company is going to raise your interest rates and start tacking on late fees.

When Will Creditors Starting Calling Me If I Get Behind On My Bills?

Your creditors may start calling you in as little as 30 days once your are behind on your credit card bill. They will probably start off nicely but the longer they go unpaid, the more aggressive they may become in trying to collect from you.

When Will My Credit Cards Be Sent To Collections?

Usually after the fourth month, your original creditor will send you to collections. This is when the fun starts. A collection agency can make your life hell. They may call you all day long. They may even try to contact your family, neighbors or even your employer to try to reach you.

What Are My Options If I Can’t Pay My Bills?

Once your are behind on your bills, there are not a lot of great options. You may want to try credit counseling or debt consolidation. You may have referred to this as a CCCS program. A CCCS program will lower your rates and payments and hopefully get you back on track. You may also want to consider a debt settlement or credit card debt negotiation program. A credit card debt settlement company can negotiate your credit card debt as much as 60% of what you owe. If you are really in dire straits you may want to consult with a bankruptcy attorney.

This information is of general interest and is not legal advice. If you need legal advice consult with a professional or attorney.

What is Debt Settlement?

admin — Wed, 06 Aug 2008 23:30:36 +0000

What is Debt Negotiation? Debt Settlement is a process where a debtor negotiates with a creditor and the creditor agrees to a reduced principal amount of payback. Debt Settlement is also know as debt arbitration and debt negotiation. Debt Arbitration is considered to be an honorable way to settle your debts.

Will a creditor really settle debt with a debt negotiation program?

Debt Arbitration is a legitimate bankruptcy alternative. What you can negotiate with the creditor will depend on the amount and age of the delinquent account. If a debt is newer the collection agency may not negotiate as much as a debt that is a few years old. Typically the older the collection account is, the more the creditor is willing to negotiate.

How do I know if I should do a debt settlement program?

A debt negotiation program should only be considered as a last resort. If you cannot pay your bills and are falling behind or are already in collections. You should see if you can make a consumer credit counseling program work before you would consider doing a debt arbitration program. A debt settlement program can have you out of debt in 12-48 months depending on how much you can afford to pay each month towards getting the debt paid off. You should be able to save anywhere from 40-60 cents on the dollar depending on the type of debt that you have.

This information is of general interest and should not be considered legal advice. Seek out a qualified attorney should you require legal advice or opinions.