credit card debt negotiation

Tips on debt negotiation.?

I have several credit cards that are more than 6mo. past due. Several credit card company's have offered a 40% settlement. Is that a good deal or can I negotiate a lower %?
Credit Card Debt Negotiation

Is there anything in it for credit card companies to reduce my interest rate?

I'm in the process of paying down my debt and it would be nice to do it at a more reasonable interest rate. Basically all of my cards are in the 20% range and i've been told you can negotiate a better rate. My score is in the mid-600's and all accounts are in good standing. Does anybody have any history of successful negotiation in a similar situation, and if so what's in it for the company to do so?
Credit Card Debt Negotiation

What are the odds of negotiation my debts - detail included?

Hello,

Without assigning blame for the past, here is where my spouse and I are at, and here is the situation.

Current Credit Score 710 -Trans Union

In December 2006 We enrolled in Credit Card Counseling:
December 2006 Credit Card Debt = $69,257
Current Credit Card Debt = $35,318
PMT = $1530 per month
Average Interest Rate = 9%

Mortgage = $169,483.56
interest= 7.55%
PMT =$1222 without Escrow $1457 with Escrow
Value = Estimated at $130 in this market.

Situation

Contract at work changed = Various decreases over 2009 growing to a negative $1400 per month reduction by year end.

Unplanned third child coming in July = $550 estimated monthly cost increase.

Second Job obtained = $777 per month increase

Total Net income monthly deficit by year end = $1,173.

We have approached both the Credit Card Counseling Company and the Mortgage Company and provided them all of the details, tax returns, w2's ect. I have provided them documentation of the details of my forecast.

What do you think I might be able to renegotiate with the House and the Credit Card companies. We have never missed either payment. We are alright at the moment, just saving money bracing for the summer and fall. Our goal is to be in a position to remain current, keep the house and pay down the debts.
Judy, you did not answer the question?
Credit Card Debt Negotiation

Debt consolidation vs. debt relief vs. debt negotiations, it all very confusing, what is the best way to go?

I have just over $15,000 in credit card debt, I have not been late on a payment yet but the problem is I can only afford the minimums and it is killing me and will take forever to pay off these debts at this rate. Now, my salary is being cut due to the financial crisis gripping our country and I wont even be able to make the minimums much longer. I am not sure exactly what steps I should take to prevent this from spiraling further out of control and into bankruptcy.
Credit Card Debt Negotiation

Is debt negotiation the answer?

My parents are in a lot of debt. about $60,000. my dad joined a debt negotiation program that looks promising, but almost too good to be true. he has stopped paying off the credit cards and he claims that the negotiators will take care of everything and we will only have to pay half of what we owe. the name of the program is financial rescue llc. ive looked it up and some compare it to bankruptcy. i dont really know anything about it. will it give us bad credit? how long until we are debt free? or is it just a scam? someone please help
Credit Card Debt Negotiation

Credit Card Debt Negotiation

Credit Card Negotiation vs. Doing Nothing?

I currently have over $25,000.00 worth of credit card debt from medical bills due to an auto accident that happened a couple years ago. The accident is going to be settled within the next year since I was not at fault, so I will eventually be able to pay off the debt completely. I have contacted the cc card companies to see if they'll lower my interest rate--no luck.

However, I heard about a company that will negotiate my debt with the cc companies & will lower my debt up to 60% (for a fee, of course). Therefore, my monthly cc payments will go down & I will owe less money overall. The downside is that this will ruin my credit rating & it will take 6 months or so to fix it.

Would it be better to do nothing & wait for the settlement to pay off all the debt at once & not mess with credit rating recovery (I want to purchase a home after the settlement)? Or should I do the debt negotiation & go through the process of rebuilding good credit again?

Thanks!
(Only serious answers please)
By "do nothing", I mean still pay the minimum payment every month, but not negotiate the debt with the company. Sorry about the confusion.
I am not going to file for bankruptcy. From what I've seen, this is the worst option for me (other than not pay even the minimum payments). I've seen that it can take 10 years to establish good credit after a bankruptcy.
Credit Card Debt Negotiation

I have about 25K in credit cards. I am about to lose my job. Anyone knows any debt negotiation companies that?

WORKS???
Credit Card Debt Negotiation

I acumulated $40,000 in debt through credit cards and personal, and auto loans. Is bankrupcy the answer?

Just cant keep up with the minimum payment and have tried consolidation, and negotiation. Dont know what to do.
Credit Card Debt Negotiation

which is worse for credit, bankruptcy or debit negotiation companies?

talked to a company that "helps" with debt, decided on negotiation which means that I pay into an account with the company and they wait until my creditors have gotten to the point that they are willing to negotiate to settle the debts to pay them off. so all of the credit cards will basically go to collections and this is all going to be done over a period of 3 years so it is going to trash my credit. should I just file bankruptcy and move on? which is worse?
Credit Card Debt Negotiation