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Home > Ask The Get Out of Debt Experts > I Left My High School Sweetheart and Now My Credit is Trashed. – Christine

I Left My High School Sweetheart and Now My Credit is Trashed. – Christine

I left my high school sweethart four years ago which put me in my own apartment. I had a great job at the time and got laid off about one year later.. I have about six credit cards which are all in collections after the past two years. I do work full time but i don’t make even half of what i was making at the job i got laid off from.

i pay all my own bills rent, internet and electric and groceries.. i don’t have a 401k or anything like that. i cant get a personal loan due to me renting an apartment.

nobody can cosign a loan for me either cause their credit is worse than mine.

but i cant seem to pay any of them at all…

i also see these credit card relief programs but they want a monthly fee for getting them paid off plus a big chunk of money to pay off the card…

please help!!!

Is there anything else that could help me with my situation that i don’t know about???

Christine

I’m currently backed-up on answering questions so I’m posting some of the questions here for you to help answer.

This is your chance to be a hero and help out this person by providing your feedback and answer to the question in the comments section below.

I Left My High School Sweetheart and Now My Credit is Trashed.   Christine
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Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.
  • Suzanne Cramer

    It sounds like a Debt Management Plan or DMP may not be affordable for you right now. There is an alternative, Debt Settlement that may work for you and help you to avoid Bankruptcy.
    Debt Settlement usually offers a lower monthly payment than a DMP and works towards negotiating with a creditor to accept a lesser amount than what is owed as opposed to only lowering interest rates.

    The amount of time required for Debt Settlement varies based on the payment amount you can afford and what the creditors may be willing to accept.

    This is not a quick fix but instead requires a commitment of three to five years, patience, and faith.

    Benefits:
    Lower monthly paymentReduce overall amount of debtPotential to get out of debt soonerAccess to an attorney if a creditor pursues litigation
    Challenges:
    Increased collection activity including collection calls, and lettersPossibility for participant to be sued and required to appear in court
    How does it work?
    Debt settlement plans are designed to negotiate with creditors to accept a lesser amount that what is truly owed on the account. For settlements to be considered the accounts must become delinquent, this may increase creditor collection activity. Creditors are not willing to accept a lower amount when the accounts are current because they are receiving full payment. Why accept less when you are getting the full amount?  

    CareOne Debt Relief Services approaches Debt Settlement differently than other Debt Relief providers. They complete a detailed budget analysis to identify any potential areas that you can make spending adjustments. The fee structure is also set up differently from others. Many debt relief providers require full payment up front before they begin to work on your accounts. CareOne Debt Rekief Services collects a one time activation fee, a monthly service fee, and then collects contingency or success fees based on the amount saved when a settlement is completed.  

    Debt Settlement is not Easy!
    Debt Settlement of any kind is never easy and in fact can be very stressful and aggravating. Creditors and collection agencies will call incessantly during the first few months because the accounts are delinquent and they think the best way to get you to pay is to call! If it did not work, they would not do it. Creditors will tell you they have not received any notice from the debt relief provider and they will tell you they do not accept settlements or they do not work with settlement companies. These statements are intended to intimidate you and scare you into making a payment. It is important that you do not give in to these statements and have faith that your provider is working on your behalf to get your accounts settled.  

    Tips for Success:
    Include ALL of your unsecured creditorsPick a payment amount that you can make each month on timeCommunicate creditor changesWhen possible make extra paymentsUnderstand that this takes timeIf you that a debt settlement plan is not manageable you may want to consider bankruptcy.

  • http://www.careonecredit.com Suzanne Cramer

    It sounds like a Debt Management Plan or DMP may not be affordable for you right now. There is an alternative, Debt Settlement that may work for you and help you to avoid Bankruptcy.
    Debt Settlement usually offers a lower monthly payment than a DMP and works towards negotiating with a creditor to accept a lesser amount than what is owed as opposed to only lowering interest rates.

    The amount of time required for Debt Settlement varies based on the payment amount you can afford and what the creditors may be willing to accept.

    This is not a quick fix but instead requires a commitment of three to five years, patience, and faith.

    Benefits:
    Lower monthly paymentReduce overall amount of debtPotential to get out of debt soonerAccess to an attorney if a creditor pursues litigation
    Challenges:
    Increased collection activity including collection calls, and lettersPossibility for participant to be sued and required to appear in court
    How does it work?
    Debt settlement plans are designed to negotiate with creditors to accept a lesser amount that what is truly owed on the account. For settlements to be considered the accounts must become delinquent, this may increase creditor collection activity. Creditors are not willing to accept a lower amount when the accounts are current because they are receiving full payment. Why accept less when you are getting the full amount?  

    CareOne Debt Relief Services approaches Debt Settlement differently than other Debt Relief providers. They complete a detailed budget analysis to identify any potential areas that you can make spending adjustments. The fee structure is also set up differently from others. Many debt relief providers require full payment up front before they begin to work on your accounts. CareOne Debt Rekief Services collects a one time activation fee, a monthly service fee, and then collects contingency or success fees based on the amount saved when a settlement is completed.  

    Debt Settlement is not Easy!
    Debt Settlement of any kind is never easy and in fact can be very stressful and aggravating. Creditors and collection agencies will call incessantly during the first few months because the accounts are delinquent and they think the best way to get you to pay is to call! If it did not work, they would not do it. Creditors will tell you they have not received any notice from the debt relief provider and they will tell you they do not accept settlements or they do not work with settlement companies. These statements are intended to intimidate you and scare you into making a payment. It is important that you do not give in to these statements and have faith that your provider is working on your behalf to get your accounts settled.  

    Tips for Success:
    Include ALL of your unsecured creditorsPick a payment amount that you can make each month on timeCommunicate creditor changesWhen possible make extra paymentsUnderstand that this takes timeIf you that a debt settlement plan is not manageable you may want to consider bankruptcy.

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