When dealing with any creditors GET IT IN WRITING. Anything a debt collector promises you verbally will probably never materialize, esp if they are promising to remove all the accrued fees. When my sister was in college she dealt with a collector on a personal loan that she ended up defaulting on. After a year of non-payment a collector told her she would remove all late payment fees and interest if she promised to make 6 months of timely payments. My sister agreed and when her new statement came out it showed the beginning balance, how much in fees & interest had been removed and the ending balance. Needless to say she made all her payments on time but a few months into her agreement the fees and past interest showed up on her statement again as due! We called the creditor who said when they audited the account they saw a “mistake” had been made. Long story short, the collection agency hadn’t been authorized to make such a deal, my sister should have gotten it in writing, as long as the credit union was concerned there had been an accounting error.

Debt consolidators can’t do anything that you can’t do by yourself. Contact the creditors, first, and tell them the situation; i.e., you don’t want to be forced into bankruptcy. At a minimum they will knock off the accrued late fees and interest and could also reduce the principal. Don’t mess around, the next go around. Make a payment plan with them and stick to it like glue.

There are debt and debt consolidation advisers that are funded by the credit card companies, banks, and the government.

They can advise you and they deal with creditors directly to make terms. You can find them with a search. They are non profit. I don’t recall the name off hand.

They can even get interest rates reduced.

Godbless

Do you have a bad credit?

Or

Have you declared bankruptcy?

If yes, do you know that you can still be approved for a credit card?

It must be sounding surprising for you but it is really possible and that too it will give you the power to change your credit score. Further if you are finding it difficult for establishing credit a very good option is to have a bad credit card for yourself as it will help you to get back on track.

You must be wondering as how you would be able to improve your credit score with bad credit cards. With unsecured credit cards you are the king, you have the power to spend and that too up to $10000. Is this something unheard for you?

You might have thought that this kind of credit was never available to you, even when you had a good credit score so how is it possible now! And to add to this you do not have to provide any proofs or any kind of credit tests. Now, this seems to be something that is completely unheard but now this is absolutely possible.