I need a debt settlement for my credit card but the bank says I need to pay it in full. What should I do?
Can we give me the little recommendation upon how can we solve my credit card? we only do not know what to do..Thanks the lot guys..
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Hi there Robin. I know how you feel. I have experienced the same situation before. I spent too much and had problems with settling my debts to the credit card company. But good thing is I got out of it. A friend of mine referred me to moneyhighstreet and it solved by problem by the debt consolidation that they offer. Truly rewarding. You should check that out too. Thanks.
Of course the bank is going to say that it needs to be paid in full. The only way you are going to settle your debts is if you are not paying them. As long as you are making payments the bank will not consider debt settlement.
I am not saying that you should stop paying your bills, what I am saying is that you need to educate yourself on understanding the debt settlement process. Without understanding how the process works you could get yourself in trouble. I settled my debt myself with the help of a debt settlement program along with debt settlement coaching. The coaching part is the key that made the difference for me.
If you can’t pay your monthly bills you might want to consider debt settlement. If you do want to settle your debts the best way is to do it yourself.
Robin,
As some of the other commenter’s have eluded to below your credit card debt is something the company will pursue until they are satisfied you either cannot pay in full (and accept a reduced amount) or until they receive full payment. Debt settlement between you and the company can be a difficult and challenging process and you may find the use of a debt settlement company may benefit you. In essence these companies will negotiate on your behalf with the credit card company and will obtain a settlement figure for you after some degree of negotiation which as some claim, can be as much as 50-60% less than what you owe.
The credit card companies recognize these associations meaning they tend to discuss and negotiate much better than they will directly from yourself so they are definitely worth checking out.
One word of caution though, ensure you go with a debt settlement company which is legitimate and respected as there are some rather unsavory companies out there whom are not committed to their customers best interests. Best to do a Google search using your local area to start with, and check the results with your local government resource (also most are online) to ensure they are listed and certified to be safe.
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