UnThreaded | Threaded | Whole Thread (3) | Ignore Thread Prev | Next
Author: paixmondial Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 308858  
Subject: Debt Reduction Options Date: 4/25/2008 8:11 AM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 3
I'm $30k in credit card debt - a combination of poor spending habits and misfortune. I'm working on addressing the root causes, and would also like to aggressively address the debt.

I'm not currently behind on any bills or payments, and making slightly more than the minimum monthly payment on my three cards. Interest rates range from 5.9 to 13.5. I am getting tighter by the month, especially as the economy turns south. I am 42 and I have no savings. I have steady income - about $42k annual. I rent my home.

Gulp - kinda scary when I put it all out there!!

I've heard of both Consumer Credit Counseling and Negotiated Debt Settlement programs, and wonder if either are viable options. I'm a skeptic about many of these programs - are they just another way to make money of unsuspecting, money-unwise people?

Thanks for your input!
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (3) | Ignore Thread Prev | Next


TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
Pencils of Promise - Back to School Drive
"Pencils of Promise works with communities across the globe to build schools and create programs that provide education opportunities for children."
Post of the Day:
Value Hounds

Considerable Headwinds for Profire Energy?
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.