Is it Possible to Get My Debt Settled With Bad Credit?
Maybe you have bad credit and are having problems paying even the minimums on your charge card bills.
Maybe you are wondering if you can get debt settlement with such bad credit.
After all the accounts are all past due some by more than sixty days.
Well the solution to you problem is that it can be done.
You will of course first get all your debts gathered together, remember though that settlement companies only work with unsecured debt.
This means it cannot help you with your house, auto or student loan balances.
It can help with your credit cards though.
Actually, those past due bills are going to work in your favor for once now.
As you research different companies, you are going to find that many of them won't even work with you unless your balances are past due.
The next thing you are going to discover is that they don't care about the state of your current credit for the most part.
They are going to work with you and for you to get you one reasonable monthly payment that you can afford.
They are going to get many of your late fees and penalties reduced or wiped out all together.
They also might get the companies to take as little as 30 - 40 cents on the dollar of your balances.
This is all some substantial savings.
Another good thing you are going to notice is that as you work with the settlement company to get your debts paid off your credit report is actually going to improve after a while.
The amount of debt you owe is decreased and as long as you keep the accounts open (but do not use them and get in the same situation again), your debt to income ratio is going to improve and your credit score is going to improve also.
Maybe you are wondering if you can get debt settlement with such bad credit.
After all the accounts are all past due some by more than sixty days.
Well the solution to you problem is that it can be done.
You will of course first get all your debts gathered together, remember though that settlement companies only work with unsecured debt.
This means it cannot help you with your house, auto or student loan balances.
It can help with your credit cards though.
Actually, those past due bills are going to work in your favor for once now.
As you research different companies, you are going to find that many of them won't even work with you unless your balances are past due.
The next thing you are going to discover is that they don't care about the state of your current credit for the most part.
They are going to work with you and for you to get you one reasonable monthly payment that you can afford.
They are going to get many of your late fees and penalties reduced or wiped out all together.
They also might get the companies to take as little as 30 - 40 cents on the dollar of your balances.
This is all some substantial savings.
Another good thing you are going to notice is that as you work with the settlement company to get your debts paid off your credit report is actually going to improve after a while.
The amount of debt you owe is decreased and as long as you keep the accounts open (but do not use them and get in the same situation again), your debt to income ratio is going to improve and your credit score is going to improve also.
