I am in over 20,000 in creditcard debts.?

Question

I want to consolidate or should I just wait until it get to collection & then settle with collection agencies. I am unemployed right now. What do you think?

Answer 1

If you are unemployed how are you going to pay a consolidation loan?

If your debts are getting out of hand, then you may need the services of professional debt management and debt settlement companies.

I recommend checking out the servies of these three companies to find the one that suits you best:

http://www.shareasale.com/r.cfm?B=115653...

http://www.shareasale.com/r.cfm?B=44607&...

http://www.shareasale.com/r.cfm?B=110988...

and for the UK:

http://track.webgains.com/click.html?wgl...

Answer 2

don't spend money on getting your debt consolidated, waste of money.

Talk to the credit card company to get a plan in place of how you'll pay them back.  If they don't talk to you let it go into collection, then they will.  If they sue you they have nothing to take from you since you don't have a job.  Pay them back once you get some money and make it right.  You dug yourself in the whole it isn't fair if you get off without paying them something.

Answer 3

Step one get a job.  Step two, is well in the link.  Just pay them off (it will take a while) and get your life back together.

Answer 4

Dear Classy,

             You have no job? You have no income? You have no ability to pay on any agreement you might enter into with either a collection agency or consolidation company?

               You are not being realistic by thinking you have any chance of accomplishing anything with respect to your debt load.

                  Wait until you have a job. Save up some money and approach the collection agencies one at a time offerring to pay 20% to 25% of the debt as full and complete settlement. Be willing to go upto maybe 50% but no higher. Only send money if you have an agreement in writing in your possession. Hard to believe but some collectors lie, cheat and misinform deliberately.

   Good Luck

Answer 5

that's the reason that you are unemployed--

Answer 6

You can contact a credit counseling company. As they are the experts they can suggest you something. But pay off your debts as soon as possible and don't wait for it going to collection as it will ruin your credit badly in addition to harassing calls from collection agency.

Here is the source of a credit counseling company named http://ezconsolidation.com for your reference.

Answer 7

what exactly do you have to show for that $20,000?