Well I guess I'd like to know where to start. i just sold my car and got 6,000 to make a start. i have old debt from when i was 18. now I'm 25 and need to clean it up for my future. i owe credit cars, a bank, misc stuff like old phones, student loan, irs, some doctor bills that were supposed to be covered by medi cal but now there coming at me for them etc. theres even some stuff on there i have no idea about. but i figured with 6k its a goos start. i just dont know what to do!!!! i roughly owe about 10-15,000 dollars. I'm sure I can negotiate but i dont know the ins and outs. is this something you can help me with??? i have all my bills written out with phone numbers etc. WHAT CAN I DO??? the worst thing is i finally got a job that i make descent money in and now everyone is coming at me from all different angles. then i claimed wrong on my taxes so i owe 4,300 this year in taxes. PLEASE HELP
Given the improvement in your financial situation and your desire to negotiate settlements with your creditors, I would encourage you to contact a debt negotiation firm to assist you in reaching favorable settlements on these debts. Based on the information provided in your question, it sounds like many, if not all, of your debts could be enrolled in a standard debt settlement program, as the debts you describe are unsecured obligations. Debt settlement programs generally work with your creditors to negotiate reductions of as much as 50% to 60% or more of the balance you owe. In most cases, debt settlement clients save up money for lump-sum settlements over the course of two or more years; however, since you have $6,000 to put toward the settlement of your accounts, a good settlement firm may be able to resolve all of your debts in a matter of months rather than years. If you would like to read more about debt settlement programs, I encourage you to visit the Bills.com Debt Negotiation page. In addition, if you enter your contact information at the Bills.com Savings Center, we can have one of Bills.comÂ’s preferred debt negotiation providers contact you to further discuss the debt relief options available to you.
While you may be able to negotiate with your creditors yourself without professional assistance, I think that you would be wise to consult with a professional to discuss the costs and benefits of hiring a company to assist you with negotiating your debts. For example, a professional debt settlement agency should be able to tell you which of your creditors are more difficult than the others, and therefore which accounts should be settled first. In addition, professional debt negotiators have had time to build important relationships and establish contacts with many creditors, something that the average consumer does not have. Finally, I have found that, in many cases, consumers find it very difficult to negotiate with their own creditors due to the emotional investment they have in the situation; they allow threats made by their creditors to intimidate them into less favorable repayment terms than may have been negotiated by a third party advocate with no personal involvement in the debt. On the other hand, a debt negotiation firm will charge you a fee for its services, so you must consider the benefits versus the costs to determine if hiring a debt negotiation firm to represent you is the right choice for your circumstances.
I strongly encourage you to speak with a professional debt negotiation firm to discuss your situation and help you determine whether or not a debt settlement program is a good choice for you. Additional information regarding debt negotiation and other options available to assist consumers in resolving their debts, such a credit counseling and debt consolidation, is available on our Debt Help Services page.
I wish you the best of luck in resolving these debts, and hope that the information I have provided helps you Find. Learn. Save.