Advice for Paying Off Debt
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Posted by Kevin
(68.167.44.170) on March 12, 2004 at 09:47:39:
My fiancee currently owes $12,000 in credit card debt on 2 cards that I am going to be able to pay off for her. Her debt is many months past due and has been accruing tons of late fees and finance charges. My questions: 1. Should I contact the credit card companies to see if they will reduce the total balance due (since it has grown significantly because of all the fees)? 2. If yes, what is the best way to do this? Should we do it ourselves or hire a company to do it? 3. Are there any negative credit report consequences to working out a settlement like this? 3. Any thoughts on "Freedom Debt Relief" http://www.freedomdebtrelief.com/? They said they would be able to save us over $4700 by having the debt age a little and then working on a settlement. THANKS SO MUCH!
Kevin
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