hello
This my first post here. What an active community you guys have here!
I read the stickies for newbies. My question is in regards to the option described in the following NY Times article:
http://www.nytimes.com/2009/01/03/business/03collect.html
I have good credit (700+). I have all my CC debt under control right now: no payments missed, highest interest is 7%, except for one account. It is a 0% interest CC that is about to jump up to a high fee in the next couple months. When that happens, I wont be able to make my payments and things could spiral out of control . I am in need of negotiating a partial payment for a specific account at bank of america, for about $25k.
On the downside, would this be the same as the Debt Settlement option? I mean, it doesnt matter if I use a firm or I negotiate it myself, if I am doing it to all my lenders or just one, the negative impact is the same?
Thank you.
