Get in there and haggle! What have you got to lose? For example, it is possible to get 25-50% off your credit-card debt, your credit-card account closed, and go on a payment plan instead.
IMPORTANT: Make sure you stipulate to your creditors they are not to report you to credit referencing agencies as being ‘late’ with your payments, if you re-negotiate for lower payments. Then your credit rating will be unaffected.
Take your time. Don’t be too eager to settle. Hang the threat of your bankruptcy over their heads.
KEEP WRITTEN RECORDS. Get everything in writing. Phone calls are not legally binding.
Reducing debt becomes a reality with consolidation loans. You can use them to pay off different expenses, ranging from products you bought, to houses or medical bills. In a large majority of cases, these loans are used to pay off credit card debt, which can get quite high in record time due to the interest rates and late fees.
In order to take out a debt consolidation loan you will have to go to a bank, a credit union or some other financial institution and find a good deal. Many finance companies offer competitive programs, so...
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