Debt reduction programs?

Question

I am crushing with credit card debt and I am looking at working with a debt reduction program.You can see the adds on TV all the time on how they could negotiate a lower payment to help you get rid of your debt.I am looking at a number of programs but I am not sure how good these programs are and if they really work.

Answer 1

In the UK? they're trying to get you to sign up for an IVA perhaps? If you have any equity in your property or any other significant valuable assets, you may be required to release some or all of this as part of the IVA agreement.

Answer 2

Most of them "reduce your payment" by not paying on the card until it is 90-120 past due, and then "settle" with the company for cents on the dollar.  It will destroy your credit.  Your better option is to call your cards directly and work something out with them to maintain  your credit score.

Answer 3

Hi Friend,

How are you? There are some ways to manage your debts:

Debt Managing plays a very vital role in everyone’s life. People are facing many problems due to bad or miss management. It’s very necessary to control your debt and managing them. Otherwise it will become disaster for you & your family.

As economy are progressing new methods of luxury items coming out like credit cards. Credit cards are very useful but they are also creating lots of problem like if you take cash from credit cards you have to pay heavy interest on cash you have taken out. For managing your business & financial conditions, some points are as follows:-

Make best use of Opportunity related with usage of Business Credit Cards

Businessmen should be very cautious before accepting credit cards he/she should be knows the pros & cons of that credit card. Business owner should get credit card at low rate of interest because it may effect the financial situation.

To keep away from hassle & tensions made due to misuse of credit cards, best way to get credit card with insurance cover. It will benefit an entrepreneur to get replacement done within less time.

The business owner must take card which has got high credit limits as it will help in making big business dealings.

The Necessity of Registration of Online Bank Account

It’s in the benefit of Business Enterprise to get an online bank account it will help them in conducting there business dealings in any country at any time. Business proprietor can be tension free from paying there online bills as online bank account can provide them the facility of paying off there bills. Especially, one of the most important advantage is business proprietor can save there time by not visiting banks & standing in queues for there financial transactions.

Preferring Best Online Bank Account

It’s very important to take best online bank account not only for the purpose of less rate of interest they are taking but for there services. Services like opening multiple accounts. This will help a business owner using an account for different purposes business as well as for savings. Comparison should be done so that its advantages & disadvantages can be known.

Answer 4

STAY AWAY FROM THESE COMPANIES!!!

Step 1: Calm Down

Step 2: To find a legitimate counselor, contact the National Foundation for Credit Counseling, at www.nfcc.org or call 1-800-388-2227.

Answer 5

Yes....some are scam company but not all. You can check out the company on BBB. The company registered with BBB are recognized.