Is there any good idea to settle my debt from credit card faster? help! RM50K..?
143896
The best plan is to get on a tight budget, work extra, sell stuff, and put all the extra money toward the debt.  Check out http://www.daveramsey.com and the forums there for additional information on becoming debt free.\n\nGood luck.
1029812
Try the UNITED WAY debt consolidation I did and the calls stopped and I made one payment a month according to income level and there was no fee. You MUST call your credit card company's and tell them to STOP your cards immediately or it just keeps getting more and more (very very important) don't use them at all go all cash or don't spend. This is a free country thank God and we should not let the Government dictate anything. I hope this helps. Knowone made you go into debt so its you that has to figure a way out. A real challenge indeed, with out claiming bankruptcy (even if you claim Bankrutcy you still have to pay back at a lower rate depending on kind of Bankrutcy and judges decision) go to consumers Q&A on your computer and see what other people are doing and follow what is working for the MAJORITY. It might work for you as long as your debts arent too far out (Hundreds of thousands). It seems the older we get, the less they care about us, not much can be done about that unfortunately. when the goin gets tough, the tough get going .....good luck my friend.... your imagination is thier worst enemy...... Peace
276485
find a reputable credit counseling agency...get an additional job if possible.\n\ncredit counselor company will act as a middle man to your creditors and will negotiate a lower rate for you and also get some of the balance wiped out....you will pay the credit counseling comany the payment for all your creditors along with a small fee...\n\ncheck out the wikipedia entry below regarding credit counseling!
1094421
pay cash for things not charge. payoff what debt you have as soon as possible by making payments for more than the minumin due.
114100
Unfortunately there is not way to repair your credit score quickly, that's why it's imperitive that you keep up with good credit practices...\n\nI would get a department store credit card and buy something every month, and then pay it off right away....that same day even....doesn't have to be anything big....you just need to establish good payment history. \n\nIt will take at least a year of this and no other blemishes on your record to effect your credit score.
1159142
never heard of them but I recommend that you stay away from those jokers.... the best solution to all this debt settling is to make half your monthly payment twice a month... this cuts down on the exorbitant rates you get charged on your debt you have already accrued...
1116520
Yes!  I consolidated my debt using  a company called Auriton- they have a wonderful customer service team and it was easier than you'd believe.  Less than three years later and I am 100% debt free!
501085
Find a different credit councelling company, honestly there are TONS of them out there that screw you over. If they can't lower your payments then what's the point in being on a credit councelling program? Try going to www.trinitycredit.org that is where we have our debt management with, they are GREAT people and they have really helped us out of our jam, we had approx. $12,000 in debt, payments were about $400 for three credit cards ($400 a PIECE) they were able to reduce our payments to ONE payment of $300 a month. We've been on the program now for 2 years, and are SO happy we did it! The usual program takes 6 years to pay off, BUT because we were able to get back on our feet again we were able to pay MORE into our debts and get rid of them faster, we should be done with the program by this August. They will also give you ideas and suggestions on how to pay off your debts faster (like are you in the military, did you know you can get your APR on your credit cards reduced because of that?). I hope this helps, believe me I know where you are right now, and there IS a way out. Good Luck!
739430
There is nothing they are going to do that you can't do yourself.  Look up your specific issues on-line, learn, and apply the lessons to your issues.  When you get involved with these groups, there are hidden fees and costs, such as interest charged for longer length loans.  Read this:\n\nHere's another example, this one involving debt settlement. Let's say you have racked up $20,000 in unsecured credit card debts. You owe $10,000 to one credit card company, $7,000 to another one, and $3,000 to a third one. You agree to contract for a five year debt settlement plan where you pay $250 a month to the settlement company.\n\nSounds good, right?  After all, $250 a month for five years is only $15,000, so you're saving $5,000 and you'll be debt-free in just five years, right?\n\nLet's examine this arrangement a bit closer. The admin fee will cost you $750 up front. Your first three monthly payments go towards that admin fee and nothing gets put into your trust account until your fourth monthly payment has been paid. The settlement company takes the first $50 of your $250 payment every month as the service fee. That means that only $200 a month is actually being added to your trust account.\n\nMost debt settlement companies will claim to be able to settle your debt for about 1/2 of what you actually owe, so let's use the middle credit card debt as an example:\n\nIf you owe $7,000 on the account and the creditor agrees to accept $3,500 as payment in full, it will take you 8 months at $200 per month to have accrued enough cash in your trust account to pay off just that one credit card bill. But remember, your first three  payments to the debt settlement company only paid the $750 admin fee. That means your first credit card isn't really settled until 11 months after you started sending them money! So what is the problem? It's really very simple - Your creditor won't agree to accept half of your actual debt amount in settlement unless, or until, that amount can be paid in full. Otherwise, they'll expect you to make your normal monthly payments.
986954
If you pay only the minimum payments your balance will hardly ever go down.  You can either pay extra a month on them, get a loan to pay them off, or go through one of those debt consolidated places.  I used Consolidated Credit Counseling Services at 800-Save-Me-2  They worked great (I paid off $14,000 of credit card debt in 3 years with them -but I also used my tax returns to pay down my balances quicker too) but their costumer service was lacking and most of them had heavy accents that made communicating over the phone very difficult.  You can find some in the yellow pages, or even searching online using a search engine.  Shop around if you go that route.  Some of these require you to pay your cards up to 2 months in advanced -find one that doesn't (mine didn't).
683163
Okay - I can't really help you collect on this debt other than to document EVERYTHING - copies of all letters, dates of calls, names of who you spoke to, etc.  However, in the future, if all possible, get at least half up-front BEFORE giving your service.  Be sure all your invoices go out with "terms" clearly marked.  Perhaps offer a discount for paying within 10 days - common terms are 10%Net30 and large companies tend to take advantage of that - and you therefore get paid quicker, keeping your cash flow running smoother.  Good Luck collecting on the deadbeats!  Don't let them get away with it if you can help it.  If worse comes to worse, your accountant will be able to write it off at the end of the year.
421231
the best way to lower your rates is simply to ask. when you call the credit card company tell them that you have been looking at other credit cards with lower rates and you were wondering if they would match it. if they say no to that, ask to speak with their supervisor and ask them the same thing. then if that doesnt work switch to another with a lower rate and transfer your debt to that one. \n\nalso, im not sure if a lot of people know this. but the reason that the rates got so high in the first place is usually due to late payments. so the best way to keep your rate low in the first place is to always make your payments on time. they can start to jack up the rates with as little as one late payment and they dont need to give you notice. \n\nhope that helps you
876224
I'm doing this right now. It's best if you have or can get a low interest rate loan and pay off balances all in one spot. Debt consolidation companies ARE NOT necessarily the best way to go. Some creditors will not work with these companies. Also, it can reflect negatively on your credit report. \n\nI recently transferred two of my three credit card balances to one loan, then cut up the cards. Now, I'm making two payments instead of four, and it had helped a lot.\n\nI'd say talk to several credit counselors for ideas. Read a lot of websites. There are plenty out there. \n\nGood luck to you!
353378
Don't do it if you can avoid it in any way. Your credit will be shot for a very long time. (not to mention it isn't a very upstanding way to settle your debts)
521479
updated continuously:\n\nhttp://www.toptips.com/debtclock.html
678913
It is impossible to suggest a best course of action without knowing the specifics of your situation, and I would not suggest disclosing specific personal financial information in such a public forum. However, you do have more options:\n\n1. Consumer Credit Counseling (debt management plan)\n\nThis option should not impact your credit score, but most credit card companies add a flag or note on your credit file to inform anyone looking at your file about your enrollment in a debt management plan (provided by a CCC agency). This may prevent your from getting a loan (but, you shouldn't be looking for a loan if you already drowning in debt, anyway). Only use government-approved CCC agencies (see link below).\n\n2. Debt Consolidation (mortgage refinancing)\n\nThis should only be used by someone who can restrain themselves once all that debt is moved off of their credit cards. Often, newly available credit card balances are so tempting that people who move their unsecured credit card debt to a secured mortgage will run up new credit card debt (and lose their home when it gets too much to handle).\n\n3. Debt Settlement (debt negotiation)\n\nDebt settlement is when you (or a professional debt negotiator) negotiates a reduced-balance settlement to satisfy a debt. This should only be used by people who cannot afford a debt management plan (CCC) and who also want to avoid bankruptcy and who are willing to repay their debts according to their financial ability. The process of saving up and negotiating debt settlements is typically damaging to your credit score, so keep this in mind if you consider this option.\n\n4. Bankruptcy (Ch. 7 or Ch. 13)\n\nWhile the creditor-supported bankruptcy law that was passed last year is designed to make it more difficult to cancel your debts through Chapter 7 bankruptcy, bankruptcy is still an option. You need to understand the difference between Chapter 7 (essentially, total erasure of debts) and Chapter 13 (a court-structured repayment plan).\n\n5. Self-Managed Plan\n\nYou may be able to pay off your debts if you are able to cut back on spending, use a tighter budget and stick to an accelerated repayment plan. This process involves paying the minimum monthly payments on all accounts except your highest interest account. On that account, pay more (as much as you can). Once that is paid off, apply the amount you were paying towards that account on top of what you are paying to the next account (ranked by APR). Repeat this process until all debts are paid off. While you do this, continously negotiate with your credit card company to lower your APR (be sure to threaten a balance transfer to another account and be ready to transfer if they refuse to give you a break). \n\nAgain, it is not an issue of which is better. It is an issue of which is better for you considering your specific situation, concerns and goals.
895082
You need to sit down and make a list of all your monthly bills that don't change.  Rent/mortgage, car note, insurance, etc.  Then estimate your variable bills like utilities, gas, food, etc.  Subtract these from your monthly income.  What you have left over is BILL PAYING MONEY.  Divide this number by two and that will tell you how much money you should put towards those CC payments at EACH paycheck.  Don't just pay those cards once a month.  Pay them every time you get paid!  This will reduce the interest charges you incur, as well as increase your credit score because you have a lower revolving balance.  The faster you pay it down the better off you will be.  Once you get that under control, set a limitation on yourself. Never put more charges on that card than the extra money left after bills that you calculated earlier.  I know this sounds tedious, but will some discipline you'll get the hang of it and it will be like second nature after a while.  Pay down the bills with the highest interest rate the fastest, but don't ignore the other ones.  Have fun with it and mark your paydays on your calendar ahead of time to remind yourself to pay those bills!  I started doing this almost a year ago and my credit score is now 740.  I started at 640!  Every time you want to buy something unneccessary and charge it, just think about how much better off you'll be if you maybe wait a while until you can afford to pay cash for that same item.