We’re at a point of bailing out and starting over because of our financial situation, but not sure if it will cause more stress down the road. We started a trucking business 2 yrs ago that went under and left us with 0k in personal credit card debt. Our mortgage is 00 and going up to 00 in 2 yrs.. We owe more than the house is worth so are thinking of doing a short sale or deed in lieu of forclosure and rent a cheaper place until the CC debt is paid off. I have thought of doing a debt relief program, but not decided because of the bad things I read about it. My credit is still high because I pay everything on time, but not able to pay much more than the minimum so not getting anywhere. I feel like I’m throwing money away on this house and would like to get out of it and have some breathing room to start over. Has anyone actually done this and how has it effected you? Do you think it is worth ruining great credit to be able to have a life again?
Thanks for any advice

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Obama created Troubled Asset Relief Program to help "make balance sheet of banks good so that they can continue to lend". But credit card company is NOT bank and they don’t lend — they put you in further debt.

Obama thinks that if American Express issues more credit cards, the economy will revive? That’s creating more national debt because its plastic money, not real money. Unless and until plastic money is paid in full, you can’t rely on it to stimulate the economy. Later people default on their credit card bill. Millions are already defaulting.

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Here is my story,

I am a victim of domestic violence. I went to school after I walked out of the relation, and I have graduated a year ago, got a wonderful job, and right now I am trying to buy a home.

Unfortunately, while married, because I was not allowed to work, and did not have the ability to pay my credit card and the emergency room visits, the result as you know is bad credit.

I have been working on it, trying to pay off the debt, but, I have been told that even I paid off the debt tomorrow, the bad credit history will stay on my record up to 7 years. I am just wondering, is there any program or any organization can help with this situation, if the debt was caused due to the abusive relation, due to the fact the victim was not allowed to work, and if the victim willing to pay the debt, will the credit bureau take the negative records off the credit report right away just to give the victim a chance to start a new life? I appreciate any input!!

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With ,500 of credit card debt my mother recently joined their program and they *claim* that if she pays them about ,800 over a period of a few months her debt will be paid which sounds too good to be true considering the fact is almost half her debt been wiped out…. are they a scam or are this people legit and do what they say at the end ?
so far she paid the first month which was around 00… is it possible to get it back ?
she already paid them for the first month and now she wants out… can she get her money back ?

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Okay…so I pay a little bit more then the minimum fee every month and my balance still never seems to go down!!!! Last month I paid 0 and my balance only went down about ! All the rest went to finance charges. I’m living pay check to pay check and I can’t afford to pay much more than that. This card is killing me! I asked the company (WaMu…previously Providian) to lower it. But they said no. I’ve gotten denied for other "blance transfer" offers I see online. But my credit is decent (about 670). I owe about 00 on it and I’ve been stuck at that amout for months. And I don’t even use the card anymore.

Does anyone know of any good card i can do a balance transfer on? Or any program for smaller debt relief? I feel so hopeless.

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