Must You Stop Making Payments, To Settle Credit Cards?

[MrMariobgs]

Very helpful, gracias

[cognitivefun]

listenspeakthink: so thrilled to hear of your success. This is the reason I love what I do, because of great outcomes from folks like you.

courtdiz25: there are times when you are sued. But that can be part of the settlement process. And there are tax ramifications but take a look at IRS "insolvency" rules. There is a good chance you may owe little or nothing in "cancellation of debt" income tax. Ask a good CPA, you may be surprised AND debt free without tax liability.

[listenspeakthink]

Thanks Richard! I didn't buy your credit card relief formula, but I did buy the loan modification webinars for $200. Everything you have said is true! Much appreciated. I have modified both of my multi-unit rental properties and have settled my credit cards for 25% of their balances or 30% of the original balances. You are the real deal. I even settled one for 10%. I am so grateful. Now I am saving.

[4mrav]

thank you you put my mind at ease

[bastardo323]

Thank you so much for your advice.

[courtdiz25]

The MAJOR glitch with debt settlement is to have to STOP paying... and you are going to pay into an escrow fund with the settlement company for up to 3 years??! Name a creditor that will wait 3 years of non payment for a settlement. They are going to SUE you first.Remember the saying "If its too good to be true it probably is" If it really worked I would be the first in line. They never disclose that you have to pay taxes on forgiven amounts either. Wake up people.. Use your brain.

[bastardo323]

My medical provider reported my $4200.00 debt to a collection agency. I'm unemployed.I cannot paid the money right now. I need some advice as to how to settle this debt with the collection agency which by the way is claiming the debt as 5100. Any help greatly appreciated...

[courtdiz25]

@bastardo323 Contact the original doctors/hospitals and ask if you qualify for charity care. Based off of your income, they typically take care of part or all of your balance based off of hardship and need. Good luck!

[ACreditcard4u]

Get your free info to get 70% or more off your credit Card Debt 866 999 3595

[FlyLady13]

Love your videos!

[kakidarrling]

Great info. Shared this on my Facebook for you. Your helping a lot of people.

[704turkking]

Great information. i am now trying to settle my debts and you have given me great information to make that happen.

Thanks

Rickey

[1NWOMD]

Washington Mutual slapped on an additional $600 worth of bullshit charges on my $4000 CC account when I refuse to pay them. After harassing me for 5 years, they filed a lawsuit against me. When I sent them a Debt Verification Letter forcing them to PROVE that I owe them, Instead of facing me in court, the criminals scam artists at Portfolio Recovery Associates LLC dropped their lawsuit against me!!! $4660 debt GONE! Haha Resistance Is victory!!

[lorilynneottley]

My husband lives in a seperate town due to working situation. My name is not on some of the credit cards, but I'm going to start attempting to settle the debts ourselves soon. Will they deal with me even though I'm not on some of the accounts? 

[ZenSlider]

Does this only work in the US or do Credit Card lenders do this in other countries too?

[KrisHernando]

Great Info Richard!!!

Kristine

[lanjha]

Well said.

[OZRIC1985]

Thanks for the video Richard! I am way far in debt and I have stopped paying all my credit cards (which are beyond just maxed out) and I have been getting annoying messages from credit card companies trying to get me to make a payment. Some of my cards have already been charged off. I am glad to know that I may be able to settle for as low as 10 cents on the dollar some time in the future when I may be able to do that. Thanks again for your helpful information on your video!

[checkersq]

great job man, same thing happened to me and i paid the original outstanding balance without the interest... plus, hey, this will also help to fight the corrupt bankers as it cuts into their profits...u know( the NWO scum thats trying to detroy america)

[Utopiakerri]

Thank you so much Richard! I just settled on my only credit card I had. I owed 11,000 and they settled for 3,000!!! Thank you so much for your info, you were a huge help! :-D

[poondoc1]

if you are insovlent..then the IRS "should'nt" go after you.

[VercingetorixXIII]

@poondoc1 File IRS for 982 and it is written off..

[CingularGyrus]

Always well done...

[kooldan1]

great video. my wife and i just had a conference call with a debt settlement company and almost signed up for their service. after watching this video, we decided to do it on our own. ill keep you posted! sincerely, daniel in yakima

[wilsonbarber]

What is missing here is the tax consequences of settlement.

[brendology]

If I am in default on my unsecured debt is it possible for the creditors to take the mobile home I own? I rent the lot it's on, but own the mobile home. thank you in advance

[pgpeachess]

thank you for all your videos! you are an encyclopedia of information; very useful one, i might add.

[jc7622]

If you settle are you liable for the difference on your taxes?

[coronet67]

I think so.

[rbrouwer5]

No talk to your (a good ) tax accountant. Not liable

[ClintfromNYtoVA]

i LOVE THE NO BS STRAIGHT FORWARD VALUE YOU GIVE. Got a 50% coupon on your debt settlement and home principle reduction relief products when bought together? Got credit cards debt and stuck in a negative am option arm that goes up in the fall. Contact me when you got a special running with a sale on both of the courses I may need. Please do it before I run outta money!

[42n8lady]

I was just about to get a debt settlement company to help me when I saw your videos. You have really hit the nail on giving good info on those issues that are no.1 in our minds. I think that I shall do the debt settlement myself.

[da133993]

Your youtube videos are extremely insightful. Thanks Richard. I will be emailing you my situation. I have heard some of this stuff from Dave Ramsey. But since he is a public figure I do not think he can get into specifics.

I suggest if you are in over your head. Make sure you prioritize your debt. 1. Shelter 2 Food and # 100000 would be your credit cards. Your Fica score is just not that important.