I stopped paying on all credit cards in june of 20

I stopped paying on all credit cards in june of 2010. So far I have settled with 3 cards and have 3 to go. I owe Bank of America, Chase and Advanta a total of 33,000.00. It has been 13 months and I havent heard from any of them lately. What do I do? Is now the time to go in with a low ball offer? I hate not paying my bills and this is making me a nervous wreck. I'd like to sleep sometime in 2011! Thanks in advance for your help!

3 Answers

You can contact with the creditors and negotiate with them. You may try to settle the debts on your own. If it seems difficult for you to negotiate yourself, then you may get help from a reliable debt settlement company. This company then negotiates with your creditors on your behalf. The following link may help you in this regard:
http://www.debtconsolidationcare.com/debt-settlement.html
 


It is not too late. You should contact BOA, Chase, Advanta asap. Explain your financial situation to them. Tell them you are eager to clear your dues. Make a reasobale settlement offer to them. BOA is pretty easy to settle with. Once the accounts are settled, ask them to update the status of your accounts as "Paid as Agreed" or "Paid as Settled". You should also check your credit report to find out if the accounts have been charged-off.


You should contact your creditors and negotiate with them for a re-payment plan which will make it affordable for you to pay off the debts. If the creditors agree to your re-payment plan, it will become easier for you to get rid off the debts.


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