M
mickey joe
Guest
Hi
I am new to this forum and have a question regarding dealing with credit card debt.
I owe @ 25k on credit cards and have been able to make minimum payments up til now but my income has recently been reduced and I am not going to be able to continue this.
A relation has offered to help by giving me 10k but obviously this will not pay off these debts in full but I read on other threads that some companies will accept 40% in settlement.
Is it possible that the card companies will accept such a figure as full and final settlement given that I am not in arrears?
I also have a home that would have a realistic value of @ 290k with mortgage 130k.
Could any outstanding monies owed to credit card companies after any settlement be registered against my home?
Will the fact that there is equity in my home mean that they will not settle for anything less than full amount?
Any help greatly appreciated
I am new to this forum and have a question regarding dealing with credit card debt.
I owe @ 25k on credit cards and have been able to make minimum payments up til now but my income has recently been reduced and I am not going to be able to continue this.
A relation has offered to help by giving me 10k but obviously this will not pay off these debts in full but I read on other threads that some companies will accept 40% in settlement.
Is it possible that the card companies will accept such a figure as full and final settlement given that I am not in arrears?
I also have a home that would have a realistic value of @ 290k with mortgage 130k.
Could any outstanding monies owed to credit card companies after any settlement be registered against my home?
Will the fact that there is equity in my home mean that they will not settle for anything less than full amount?
Any help greatly appreciated