Has anyone ever tried debt elimination? A company has contacted me about completely erasing my entire credit card debt within 1 year, then repairing the credit. Their website has testimonials of many people in all states. It is supposed to be a legal process and there is a lot of information to back that up. Has anyone ever done this before?
2006-07-19 04:38:04 · 7 answers · asked by Anonymous in Business & Finance ➔ Credit
Hey there, it is a legal process. I had a friend do it back home, but the thing they don't tell you is that they show up on your credit report, and it makes it very hard to buy a house, or even a car. My friend had the toughest time getting a house because they were on her report. Good luck!
2006-07-19 04:41:10 · answer #1 · answered by aloneinga 5 · 0⤊ 1⤋
is it a settlement company?? If it is, this is the best way to get out from under your debt. settlement companies work out a lump sum payment amount to pay off the card, your money goes into an account under your name and shows that you paid off the debt instead of going thru a 3rd party, which shows up on your credit as a chapter 13. So, it does hurt your credit at first but also makes it better when it's all over, and you get out of debt faster. ALWAYS check with the BBB before you go with any company though!!!!
2006-07-19 04:46:07 · answer #2 · answered by perplexed 4 · 0⤊ 0⤋
Debt Management and Building Wealth
http://www.askaquery.com/Answers/qn1581
How to Manage Your Credit Card Debt?
http://www.askaquery.com/Answers/qn1579.html
Debt Consolidation - Get Out Of Debt
http://www.askaquery.com/Answers/qn1643.html
2006-07-19 06:18:29 · answer #3 · answered by Anonymous · 0⤊ 0⤋
If they contacted you, it's a scam. There is no way to eliminate debt, except to pay it off, that doesn't damage your credit.
2006-07-19 04:43:15 · answer #4 · answered by ceprn 6 · 0⤊ 0⤋
good day, i do not actual understand the answer to this one. i'd anticipate that debt contract is lots better on your credit status than financial disaster... understand that financial disaster remains on your list for 10 years. yet what i quite had to share with you is a speedy caution - some thing that purely occurred to my boyfiend. once you agree a debt with a collector (no remember who the collector is), in spite of area of your debt that they "forgive" you for is stated to the IRS and they upload that quantity on your earnings for tax applications... so that you get taxed better. i'd pick debt contract quite than financial disaster, yet i imagine it truly is a few thing you pick to spotlight and practice for. ideal needs to you!
2016-12-01 22:08:19 · answer #5 · answered by ? 3 · 0⤊ 0⤋
Try living within your means.
2006-07-19 04:42:11 · answer #6 · answered by Daniel T 4 · 0⤊ 1⤋
There is some useful advice here.
2006-07-20 06:02:27 · answer #7 · answered by Anonymous · 0⤊ 0⤋