i owe $4000 credit card debt, is there a company that will pay it off and icould pay a small monthly payment?

Question

i dont know much about being in debt...i owe around $4000 i really would like to clear my credit report...is there a company that will clear it and then icould pay the company a monthy payment like a bill

Answer 1

Here is my suggestion : If you have a decent credit score (not sure which company you currently have an account with), open an account with BOA with a promo rate. Then transfer the balance over to BOA. BOA minimum payment consists of 1% of the balance+ interest +late fee. If you're qualified for a 0% interest for a period of time. Your minimum payment is only $40 amonth since you pay no interest and don't have any late fee.

Just remember, the longer you pay, the more interest you have to pay. But if you can't afford to pay more than the minimum payment, at least you keep your account current until you can afford to pay more.

Answer 2

That is exactly what the credit card company was, a loan with small payments. No the bad report will stay on your credit for 7 years, and will not get cleared off even if paid.

Answer 3

If a person has accumulated a large amount of credit card debt due to multiple credit cards, the need for a proper counseling for credit card debt consolidation can't be understated. Credit card debt consolidation counseling helps a person get vital insights into the facts that can help him get control over the credit card debt.

Credit card debt consolidation counselors are experts with a good knowledge of debt management, budgeting and behavioral patterns of credit card holders. These services are vital for those struggling to manage their credit card debts. Also called credit counseling or debt counseling the credit card debt consolidation counseling brings immediate relief to a credit card holder.

A person seeking credit counseling can get it from two types of organizations. The professional or commercial organizations, and the non-profit organizations. As depicted by its name or categorization, the commercial organizations charge money for their credit counseling sessions and consolidation help on the other hand the non-profit organizations offer free of charge services. Just because the non-profit organizations are free, it doesn't undermine their quality of service. The persons associated with such organizations are thorough experts and have lived the trauma of being under credit card debt themselves and hence bring their vital experience to the credit card holder. Read more from: http://www.credit-card-gallery.com/article/353,Credit_card_debt_consolidation_and_credit_counseling_great_tools_to_get_rid_of_credit_card_debt

Answer 4

I am sure there is a company that will pay off your bill----but they are sneaks---check the percentage rate on that!!!! Contact your credit card company and set up a payment plan......they will work with you.......I have been there....Good Luck..

Answer 5

There probably is, but that will damage your credit too. Maybe you could contact he credit card company and make payment arrangements with them.

Also, i don't know how much luck you will have but I would go to your bank and see if they can help you, I would avoid a "debt company" if I were you.

Answer 6

That is what your credit card lender does - accept small monthly payments. "Clearing" existing debt by rolling it over to new debt seldom works.

Answer 7

$4000 should only have a minimum payment of about $100/month.

If you can't afford that, your problem isn't debt, it's income or lifestyle. Get a second job and cut your lifestyle. You can have that mess cleaned up in less than 6 months if you just get a job delivering pizza or waiting tables and put all your tips to debt reduction.

Answer 8

What about a debt consolidation company never had to use one so better ask someone who knows !!!

Answer 9

how is that any different than paying the credit card company?

Answer 10

Prosper .com
try it