My friends have about 60,000$ of debt with about 18 different companies. They have struggled for over 3 years to pay these debts, but all the time they are only contributing to huge amounts of interest.In England you can write a letter and as of the day it's dated the interest stops whilst you sort out the debt. Is this possible in the u.s.a?
2007-02-01 06:30:48 · 6 answers · asked by areyou.receiving 2 in Business & Finance ➔ Credit
you know I never herd of this but it is certainly worth a try. I would call the companies and see what theycould do to help you sort it all out or call one of the credit help people I know AARP has some help and they could direct you where you need it.
2007-02-01 06:34:45 · answer #1 · answered by swimmyfishy 4 · 0⤊ 0⤋
Credit counseling or the kind of bankruptcy in which you pay back all or most of your debt may be options.
2007-02-01 06:34:48 · answer #2 · answered by Brenda P 5 · 0⤊ 0⤋
No. Try contacting a legit credit counciling agency for help
2007-02-01 06:34:17 · answer #3 · answered by wizjp 7 · 0⤊ 0⤋
They should try some debt consolidation.
2007-02-01 06:33:35 · answer #4 · answered by leaptad 6 · 0⤊ 0⤋
No...our economy is BUILT on loan interest!
Sheesh!
2007-02-01 06:32:58 · answer #5 · answered by Munya Says: DUH! 7 · 0⤊ 0⤋
i don't know
2007-02-01 06:32:23 · answer #6 · answered by US 4 1 · 0⤊ 1⤋