Settling a credit card debt yourself
There comes a time when many of us are so deeply in debt that we need a way out. You can’t breathe from the burden of debt you’re carrying. You look around and see this thing called “debt settlement”. You see companies selling the idea of settling debts for 50% or less. But, hey, if they can do it, why can’t you? Why not try settling a credit card debt yourself?
Here’s the suggestion. Start with one creditor with whom you have just one credit card. Go on line and see what wording you can find for a settlement offer. Maybe you can settle the credit card debt yourself. Worth trying, isn’t it?
Or is it? What if they reject your offer and then accelerate your debt? What if your effort triggers a rate increase… and it might. Or what if they accept the offer? If you need to pay off a $10,000 credit card debt, where are you going to get the $5000 to pay it off? From a cash advance from another card, right?
Worth trying, isn’t it?
Maybe another way is to walk away from it. Try the Walk Away Club.
Credit Card Debt Attorney
Find yourself in the deep hole of credit card debt? Looking for a credit card debt attorney? Thinking about your options? Here’s what he’ll tell you… “Ahem… you have no options. You must file bankruptcy!!!” Sound ominous? That’s because it is. Attorneys who specialize in helping those in credit card debt are well trained in selling their product.
What’s that? Their product? Yep. Bankruptcy is just another product that you can buy from a credit card debt attorney. Never thought of it that way before? Guess we just opened your eyes. You see, that impressive looking guy sitting behind that big desk with all those files piled up on it is just another salesman. And he sells bankruptcy.
Ten years back you could file bankruptcy and walk away from your debts. Not that easy any longer. Since 2008 things changed and now you have “the privilege” of repaying your creditors even though you filed bankruptcy. And, believe it or not, they call it the “privilege”.
Be aware that if your income exceed the average income in your state that you’ll be forced into Chapter 13. Google it and see what a horror show it is.
Another answer is to walk away from your debts through the Walk Away Club.
Does a credit card debt die with you?
Structuring a will can help your heirs in a lot of ways… but not necessarily all of them. We frequently get asked “Does a credit card debt die with you?” Sadly, in most cases, if you’re a family man or woman the answer is No. Your estate will have the privilege of paying off your creditors before the remains are divided among the heirs. A single person with no heirs? His or her belongings may also be auctioned off to satisfy creditors as well.
Here’s an old saying. If you fail to plan, then you plan to fail. That’s why financial planning is vital. Don’t leave your family struggling to pay off your debts as a credit card debt does not die with you. A better way to handle it is to not use credit cards in the first place. Use debit cards instead. But… and this should be your plan… don’t wait. Don’t wait until it’s one of those things you should have done a long time ago. Learn about Delayed Gratification and stop buying on credit.
A way to get rid of that debt and not having to sorry about it is to walk away from it. Credit Card Debt does not die with you so kill it while you still can. Walk away from it. Join the Walk Away Club.
Credit Card Debt Statute of Limitations
Did you know that your creditors’ have a limited “window of opportunity” in which to force you to pay your debts? Every state in the US has a credit card debt statute of limitations. They range from a few years up to 6 years.
Here’s how it works. From the time there is an “actionable event”, such as your missing a credit card payment, your creditor has that specific amount of time during which they can take you to court and force you to pay them through wage garnishment. To be honest, this is a ruse that creditors have been using for over 50 years. Once that “event” has happened, you’ll usually start getting nicely worded, friendly reminders in the mail.. After another 30 days or so, you may get a few phone calls. Friendly at first, but then progressively more assertive. Pushy. Demanding. Downright frightening. “We’ll SUE!!”
Yep., they can sue you and force you to pay by wage garnishment.
So what good is the Statute of Limitations if they can sue you and make you pay before the time runs out? There is a way – a stalling tactic that has worked for thousands of people already. It’s called the Walk Away Club. Contact them to find out if it could work for you.
Credit Card Debt Facts
Getting that first credit card felt great, didn’t it? But have you ever wondered about the actual credit card debt facts? Let’s take an honest look at this easily acquired little devil that has just entered your life. And, believe it, it is a seductive nasty little devil.
A credit card will do things for you and do things to you. It will let you easily pay for your gas, your groceries, let you buy that new phone you want so badly… and make your life great… until the bills start coming in.
You got that card because it had a very low interest rate – maybe even 0% for the first few months. You got that cards, or those cards, because they were status symbols. A black American Express, a Gold Visa, or maybe you just got an app on your new phone that you just bought on credit, right? It was so cool to punch in a few digits and BOOM you paid for something. But did you? No, the credit card company just paid for it and now you’re left with the amount plus interest.
Within a short time, you missed a payment. Maybe by just a day or two. You felt you were doing great. But the little devil was watching. It’s like a snake that lies quietly hidden in the grass. You might walk past it and never notice it was there until it bites you. And they will bite you. It’s call “Universal Default”. Ever heard of that? It’s a trick they play.
You see, if you miss one payment of any kind – it could even be a day late on an insurance policy payment – then all your creditors have the right to declare you a credit risk. That gives them the right to increase your interest rate. Universal Default. One of the credit card debt facts you need to know.