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Modification of Credit Card Debt

Some people are not only suffering under the weight of mortgage debt but are also covered up by credit card and other debt.

If you are in this situation, you should consider going through debt modification. It is both similar to and different from mortgage modification. I am available to assist with credit card debt modification. I will let you know if I believe I can help you. I will give you a disclosure as to what the possible downside can be.

It is possible to get your principal balance and interest rate reduced.

You can work on modifying your mortgage and your credit card debt at the same time.

Some credit card companies will “charge off” credit card debt and sell it to a collector. Often low payoffs can be negotiated after such a charge off and sale. The catch is that you have to have the cash and pay the low payoff, sometimes in one lump sum, sometimes over a period of a few months.

Some credit card companies like Citi and HSBC will file suit right away.

Negotiating with credit card companies is highly unpredictable.

Credit card debt is unsecured and can be discharged in bankruptcy.

You may call me at 425-771-1110. You may fax me at 425-776-8081. You may click here to send me an e-mail.

One Comment

  1. My wife and I are retired and have fixed income of less than $2k per month. We have been trying to run an eBay business. Last year we netted an additional $1+k. We barely were able to keep up with unsecured debt. Lately, sales have tanked; there is no way we can keep up while debt has added up. I’m concerned about what we owe our suppliers. We need to keep them in order to continue selling. Additionally, we have a Worldmark membership we would like to maintain.

    We don’t have the filing fees. If we were to stop making payments now, it could take several weeks to reach critical mass.

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