What makes a creditor say ‘yes’ to a debt settlement?
In very rare circumstances (like never) creditors agree to help you out of your debt problems because they are nice people. Creditors agree to a plan because they may feel this is their only chance to get money from you. Their thinking is that some [...]
The original creditor is the credit card company or lending institution that issued your loan or credit card. If your account is not in collections, then the company you want to deal with is the original creditor. If your account has been turned over to collections, then the original creditor will not even deal with [...]
There are two basic categories of debt, for the purpose of this article, secured debts and unsecured debts.
Unsecured debts include:
Medical bills
Credit cards
Department store cards
Personal loans
Student loans
Bounced checks
Secured debts include:
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Auto
How long does the card debt settlement process take?
If you are making a lump sum payment to settle your debts, the process can take as little as [...]
