credit card settling

Giant Poodles
Giant Poodles Member Posts: 79
in Breast Cancer #1
Does anyone have any information regarding this. Breast cancer has put us in a finanical bind and we can not pay our bills. We hopefully are getting a tax refund and have hear the credit cards companies will take settlements less than what is owed. Has anyone done this? Help, we are drowning fast.

Comments

  • survivorbc09
    survivorbc09 Member Posts: 4,374 Member
    #2
    Sorry, I don't know anything
    Sorry, I don't know anything about this. I wish I did, so, I could help you. Have you contacted the American Cancer Society or your own cancer center and explained that you need help?


    Hoping someone can help you.


    Hugs, Jan
  • sbmly53
    sbmly53 Member Posts: 1,522
    #3
    Not sure, but
    try dealing directly with credit card company. I've heard that a lot of the companies that advertise settling are not the best way to go.

    Sue
  • mwallace1325
    mwallace1325 Member Posts: 806
    #4
    I've heard
    I've heard that they will often accept less than owed, particularly if your only other option would be to file bankruptcy, in which case they would get nothing. All you can do is try and the worst they can do is say "no".

    I would certainly try if I were you.

    marge
  • mom62
    mom62 Member Posts: 604 Member
    #5
    mwallace1325 said:

    I've heard
    I've heard that they will often accept less than owed, particularly if your only other option would be to file bankruptcy, in which case they would get nothing. All you can do is try and the worst they can do is say "no".

    I would certainly try if I were you.

    marge

    My Opinion
    Hi,

    You can usually negotiate your balance due, but it will reflect on your credit report. Not as bad as bankrupcy but it will show up somehow. You also have to agree not to charge anymore on your card also. I ended up claiming bankrupcy a few years ago, best thing I ever did. You have to hire a lawyer and go through some financial training on line to get it. Don't use a company to do it for you if you choose to settle. Do it yourself and you will get more results and not have to pay anyone. A lot of them are scammers.
  • seof
    seof Member Posts: 819 Member
    #6
    talk to your banker
    Your bank may have a person with training/knowledge about the issue. Ours gave us good advice on debt reduction without costing us anything. Your local ACS may have some resources too.

    seof.
  • VickiSam
    VickiSam Member Posts: 9,079 Member
    #7
    seof said:

    talk to your banker
    Your bank may have a person with training/knowledge about the issue. Ours gave us good advice on debt reduction without costing us anything. Your local ACS may have some resources too.

    seof.

    Please contact the 'Case Worker' or Social Worker
    associated with your Oncologist Office/Center. Also, ACS helps with paying for gas to travel to and from chemo/rad visits. ACS may offer additional information and financial resources.

    Call your creditors - write letter, anything to reduce debit.


    Good Luck ...


    Vicki Sam
  • mbs107
    mbs107 Member Posts: 1
    #8
    Some suggestions for medical bills
    I work as a medical billing advocate and would suggest you work with your medical providers first. You could ask if they offer discounts or would be willing to work out a payment plan. Here is an excellent article on "How to survive your hospital bills" from MSNBC Money: http://articles.moneycentral.msn.com/SavingandDebt/ManageDebt/HowToSurviveYourHospitalBills.aspx

    I would be glad to speak with you in more detail about your situation.

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