Comments on: should my husband and i settle our debt or should we go through a debt consolidation? http://consolidatecredit-debt.com/should-my-husband-and-i-settle-our-debt-or-should-we-go-through-a-debt-consolidation/ Debt Advice and Solutions Mon, 09 Nov 2009 02:43:11 +0000 hourly 1 http://wordpress.org/?v=3.1.2 By: --- http://consolidatecredit-debt.com/should-my-husband-and-i-settle-our-debt-or-should-we-go-through-a-debt-consolidation/comment-page-1/#comment-4118 --- Sat, 11 Jul 2009 18:21:39 +0000 http://consolidatecredit-debt.com/should-my-husband-and-i-settle-our-debt-or-should-we-go-through-a-debt-consolidation#comment-4118 If you "settle" by paying only a portion of the debt, the debt will come back to haunt you in several years when the bank sells the bad debt to a collector. It is best to pay off the entire debt either through your payment plan or to pay off the entire remaining balance. $3200 isn't that much money. If you don't want to pay the $29 fee, think about getting a part-time job and earn extra money to pay off the balances sooner. If you can, pay the smaller debt off first, then you can focus more money on the larger debt. Good luck! update: The fee does seem high. I don't know if it's possible to transfer to another debt management program, but I always recommend Consumer Credit Counseling Service. They are reputable, non-profit, and nationwide. Their fee may be lower. Link below for the Atlanta office, but you can find one closer to you. If you "settle" by paying only a portion of the debt, the debt will come back to haunt you in several years when the bank sells the bad debt to a collector. It is best to pay off the entire debt either through your payment plan or to pay off the entire remaining balance. $3200 isn’t that much money. If you don’t want to pay the $29 fee, think about getting a part-time job and earn extra money to pay off the balances sooner. If you can, pay the smaller debt off first, then you can focus more money on the larger debt. Good luck!

update: The fee does seem high. I don’t know if it’s possible to transfer to another debt management program, but I always recommend Consumer Credit Counseling Service. They are reputable, non-profit, and nationwide. Their fee may be lower. Link below for the Atlanta office, but you can find one closer to you.

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