Hi, Is it possible to do debt settlement while sta

Hi, Is it possible to do debt settlement while staying current on my accounts? I just lost my job and am paying $1600 / month in credit cards on 60,000 in debt - and next month will have ZERO income (no savings) to contribute to this. I am considering cashing in my small retirement of 25K to settle - but want to know if I can do it this month before I have 30-day late payments listed... to avoid the stress of it all. Thanks!

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It is not possible to go for debt settlement while you are current on your debts. Creditors will not agree to settle the debts. Find a job asap. You can explain your situation to your creditors and request them to give you some time to make the next payment. 


Do not cash in your retirement.

 

No you cannot stay current while settling your accounts.  Most will not even talk settlement until you are at least 90 days late...some even more.

How to Deal with Illegal Loans..OhioGal's Primer
http://www.debtconsolidationcare.com/paydayloan/dealingwith-illegallenders.html
PDL's are ILLEGAL in the following states...
AR, AZ, CT, GA, ME, MD, MA, NJ, NY, NC, PA, VT AND DC
OH AND NH have very restrictive low cost interest rate laws.

SOL for all states
http://www.debtconsolidationcare.com/statute-of-limitation.html

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