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How Do I Find the Best Debt Settlement Company? – Shell

I have over 80K in credit card debt — up until last 8mo I always paid my bills off every month .I had 2 air conditioners go out I put on credit card for total of $9k that I planned to pay off over the next 4 months then things got worse ..I had $15K to repair a roof and I had 5 renters on 5 properites that didn’t pay so everything went on my credit cards so I could pay the mortagages until I could get paying tenants back in the properties. Properties are upside down and the bank won’t reduce my mortage interest .. Anyhow almost got scammed by consult america — but didnt thanks to your article — THANK YOU– are their any legitimate companys out there that can negociate my bills down so I can be debt free on my credit cards in 4 years or so ?? At this point my 730 credit score is not helping me anyhow…and my home won’t appraise to get a equity loan!

Thanks for your help.

question #2 what to do about the rentals that are upside down? loans of $150K but only able to sell the homes for maybe $75K or $80K loans are $1100- $1200 per month and able to rent them out for $900/mo so end up putting $200-$300 my own money everymonth to keep loans current are interest only hoping economy will turn around before they adjust to add the principal.. Talked to one lender states they don’t short sale rental properties!

Please help– the credit cards are urgent. Thank you!

How Do I Find the Best Debt Settlement Company? - Shell by

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  • Michael

    What are the concerns preventing you from filing bankruptcy? With that many properties underwater and the projections for real estate in most locations around the country to experience further price declines, it may be better to break as clean from the debts as possible and deal with the credit card debts at the same time.
    Have you consulted with an attorney?

    If you have valid reasons to avoid filing bankruptcy and are looking to negotiate lower balance pay off settlements on the credit cards  – consider handling the settlements on your own first. You can do just as well for yourself as a pro can when dealing directly with your creditors prior to charge off. If you run into trouble on any accounts then look for a company who does not charge service fees in advance of the service being performed and who can assist you on an as needed basis. This method will help shorten a 4 year plan you reference above by paying less in fees which will help you fund settlements more rapidly.

  • Michael

    What are the concerns preventing you from filing bankruptcy? With that many properties underwater and the projections for real estate in most locations around the country to experience further price declines, it may be better to break as clean from the debts as possible and deal with the credit card debts at the same time.
    Have you consulted with an attorney?

    If you have valid reasons to avoid filing bankruptcy and are looking to negotiate lower balance pay off settlements on the credit cards  – consider handling the settlements on your own first. You can do just as well for yourself as a pro can when dealing directly with your creditors prior to charge off. If you run into trouble on any accounts then look for a company who does not charge service fees in advance of the service being performed and who can assist you on an as needed basis. This method will help shorten a 4 year plan you reference above by paying less in fees which will help you fund settlements more rapidly.

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