What should I do about my debt?

I have about 75000 worth of credit card debt. Should I call a debt settlement company? I actually have good credit right now. It's about 730. I lost my job about a year ago and been living off credit cards to this day. I've been going to school in the mean time. I wish to repay my debt in full, but without all the finance charges. I already know how debt settlement companies work and I don't like it. I'd rather call the cc companies myself and settle. Has anybody out there tried to settle with the cc companies themselves and if you have, how was it. Who did you talk to? The supervisor, or just the costumer rep. or some higher ranked guy or gal. What are some advises you got. Thanks

If you are current on your credit card payments, your creditors have zero incentive to offer any type of settlement.....This is why debt settlement firms deliberately let your accounts default...to put you into a position to negotiate settlements. In a nutshell, you have to ruin your credit to get into a situation where you can attempt to negotiate any sort of settlement.

Be careful if you try this....credit card companies are under no obligation to accept settlement offers from you or any company you hire....In general, if you've defaulted and you've gone five or six months without payment....the card carrier will probably accept some settlement in lieu of loosing everything in BK filing.....but....they might get very aggressive and take legal action against you. Each creditor is different and you can never predict their response to defaulted debt.

credit card companies will be more likely to settle with you if you are behind on your bills, but the problem is that it will affect your credit. Also, if you settle, remember that it shows up on your credit report that you did not pay the full debt, and you can be responsible for taxes. They an file a 1099 for forgiveness of debt.

I have settled debts for clients and have dealt with people at different levels. You can always call and say that you are going to have to file for bankruptcy if they won't settle with you. It will give them more motivation to deal woth you.

75000 is very much huge in my eyes. Really its very hard for you to come out. I am not discouraging you, but i am saying the fact. There are few chances for you like bad credit loan - http://loan-guides.net

I wish you for coming out of the debts as soon as possible.

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