Debt Settlement - Credit Card Negotiation- Part 1
Getting into debt can happen to anybody as were sure that you are aware of by now.
Bottom line, right now in America, it happens to every social class and all types of people.
My husband and I were part of upper middle class America with 3 kids, one thing after another happened that was out of our control.
My husband lost his job and our sons have medical-child care expenses that are pretty high.
We have used a lot of credit that has been available to us just to live after we went through our savings.
To make matters worse, we couldn't even sell our home to get some equity, as prices went down.
Even worse, the bank dropped our equity line to protect themselves because of the sudden real estate price drops in our area.
Credit offers are so plentiful with credit card offers being sent almost daily.
They seem so attractive at the time.
Filled with marketing ploys to grab you when you need it most these credit cards offer you a chance to, "Do what you want, pay off your bills, finally take that much needed dream vacation.
" Following the subprime meltdown, the credit cards meltdown follows close behind.
Banks are pushing these credit cards in our faces by displaying them as easy money.
Now, that being said, what we have to do is to take responsibility and move on for the better things in our lives.
This is what we have done, as a family, to get out of our financial jam.
We consulted with many bankruptcy lawyers that are sharks, especially in our town.
The credit counseling option was less than gloomy and finally we stumbled on our best alternative.
For us, debt negotiation was the best option.
We had so much stress! Finally, one day, we stopped paying and let me tell you, that was the first day that we started sleeping again! We finally regained some peace! It was like we had a 1,000 pound brick lifted off of our shoulders.
Negotiating with the banks and collection agencies is not very hard, actually it can be quite easy if you understand the timeliness involved, know exactly what to tell them and what to look for once you have a settlement letter for your protection.
Thankfully, filing bankruptcy is not your only option.
With debt negotiation and elimination you can rid 50% to 80% of your balances by negotiating pennies on the dollar safely and without filing bankruptcy and destroying your credit.
Every case will be different.
Based on your income, assets and other factors, each alternative should be explored to help you to determine if debt negotiation is right for you.
Bottom line, right now in America, it happens to every social class and all types of people.
My husband and I were part of upper middle class America with 3 kids, one thing after another happened that was out of our control.
My husband lost his job and our sons have medical-child care expenses that are pretty high.
We have used a lot of credit that has been available to us just to live after we went through our savings.
To make matters worse, we couldn't even sell our home to get some equity, as prices went down.
Even worse, the bank dropped our equity line to protect themselves because of the sudden real estate price drops in our area.
Credit offers are so plentiful with credit card offers being sent almost daily.
They seem so attractive at the time.
Filled with marketing ploys to grab you when you need it most these credit cards offer you a chance to, "Do what you want, pay off your bills, finally take that much needed dream vacation.
" Following the subprime meltdown, the credit cards meltdown follows close behind.
Banks are pushing these credit cards in our faces by displaying them as easy money.
Now, that being said, what we have to do is to take responsibility and move on for the better things in our lives.
This is what we have done, as a family, to get out of our financial jam.
We consulted with many bankruptcy lawyers that are sharks, especially in our town.
The credit counseling option was less than gloomy and finally we stumbled on our best alternative.
For us, debt negotiation was the best option.
We had so much stress! Finally, one day, we stopped paying and let me tell you, that was the first day that we started sleeping again! We finally regained some peace! It was like we had a 1,000 pound brick lifted off of our shoulders.
Negotiating with the banks and collection agencies is not very hard, actually it can be quite easy if you understand the timeliness involved, know exactly what to tell them and what to look for once you have a settlement letter for your protection.
Thankfully, filing bankruptcy is not your only option.
With debt negotiation and elimination you can rid 50% to 80% of your balances by negotiating pennies on the dollar safely and without filing bankruptcy and destroying your credit.
Every case will be different.
Based on your income, assets and other factors, each alternative should be explored to help you to determine if debt negotiation is right for you.