6/12/2010
Jeffrey,
Got my 2nd one paid off in full for 29% of the balance, big improvement from my first one @ 50%. This got me walking in the air.
Just want to extend my thanks to you again.
I need some advice on the last two bills but let me give you a brief background.
When I got into financial trouble, I had a counseling agency handled my bills since Feb 2009. That required a one time setup fee of $50 and a monthly charge of $35 to disburse the funds. I paid them a monthly amount of $705, $35 goes to the fee and $670 to the credit card bills. After buying your ebook and following your instructions, I have full settlement on two leaving me with just two credit cards with balances of $6400 and $6500 respectively. One card will now be paid $430 and the other $240.
Both are not favorable to settlement just yet. Both creditors are asking for 80% to settle in full which I cannot handle for now.
My questions are these:
- Should I discontinue paying these two cards and the counseling agency and just save the $705 monthly until I come up with enough amount to settle in full one card at a time? Currently, I have $1750 saved for future settlement offers. I have offered this but they wont accept.
- Are there any consequences if I do this and do I need to call and advise them that something has happened to our family that will cause me not to be able to continue payment?
- Or should I just continue paying the monthly payments and wait till Dec 2011 till it is paid in full?
I would appreciate your inputs to this ever learning student of yours.
Thank you again Jeffrey.
Sincerely,
Thomas V.
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