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Question
About 2 years ago I had less than $6k in debt. After we had a real estate investment go bad and my hours at work were cut the balance of my debt is up to $26k. I cannot afford to make the payments anymore. I do not want to declare bankruptcy and lose my house. I can make my mortgage, utilites and insurance but the almost $700 a month total in credit card payments I cannot. If I default on them, not making another payment ever, what are the consequences other than a major ding on my credit score?
Michael,
The consequences are becoming higher and higher. With the current credit crunch, creditors have become even more aggressive as they turn to delinquent accounts to help shore up cash reserves. It may take time for a something to happen, but don't throw in the towel.
There are many programs designed to assist consumers in your position. If you would like our help please contact us via our website.
Https://www.OntrackFinancialGroup.com
Ontrack Financial Group
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Answers by Expert:
Ontrack Financial Group llc
Expertise
With the credit market on a brink of collapse, the future of having good credit will be paramount. Loans will be near impossible to obtain with strict lending practices around the corner. Debt collectors and Law offices will use even stronger tactics to recover more of your hard earned money. Protecting you and your credit has to be a top priority. In 2000 Ontrack Financial Group llc founded the credit arbitration movement. More and more companies entered into the arena and new business models joined old ones. Only one company has the attitude and aptitude to truly assist our clients. Ontrack Financial Group llc is that company! With our proven credit arbitration solution, you can become Charged Off Debt free within three years or less. Our clients have eliminated their Charged Off Debts with our service and avoided communication with collection agencies and law offices in the process. Since the inception of Ontrack Financial Group™, we have continued assisting our nation-wide clientele with their burdensome unsecured debt and has enrolled thousands clients in its programs, managing millions of debt for its clients without one complaint. Ontrack Financial Group™ is a for-profit, private company and is not affiliated with the credit bureaus or the credit industry. As a result, our services are unbiased and independent, which allows us to better serve the consumer.
Experience
Please read about us at Https://www.OntrackFinancialGroup.com
Education/Credentials
Banking & Finance
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