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    #1

    Debt reduction ?

    Hello everyone,
    As most of you know I have substantial credit card debt and have thought seriously about BK.I am very thankful for this forum.I have decided to sell a few things that are very dear to me and begin paying off some of my unsecured cards.would you please tell me if this is the correct approach?Is it possible to try for some sort of debt reduction from the card companies/bank or is it necessary to be behind in payments to attempt that? I am hoping that I can get about $18,000 for the "things that are very dear to me".Please give me your thoughts regarding paying down debt & debt reduction possibilities when you find some time to do so.Thanking you in advance,I am,
    brokeone
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    #2
    Well I'm not familiar with your personal situation, but it isnt uncommon for folks to sell personal items, as a means of generating extra monies to pay down thier debts. You negotiate with the creditors to have the amount owed reduced by a specific amount. But get all agreements in writing!!!

    Good Luck!
    The information provided is not, and should not be considered legal advice. All information provided is only informational and should be verified by a law practioner whenever possible. When confronted with legal issues contact an experienced attorney in your state who specializes in the area of law most directly called into question by your particular situation.

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      #3
      Hello Todd,
      Thanks for responding.I think I'll phone a few and see what they say.I'm sure the worst that can happen is that they laugh at me.
      brokeone

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