Should I use Cordoba Legal to settle $14k in credit card debt?

[nauticklolf3st]

I have about $14,000 in credit card debt and I'm behind on payments. It's been a ROUGH year. Cordoba Legal contacted me to take over my accounts, send letters, and settle my debts. Their plan requires $350 payments to them for 38 months. Is that a good idea, or can I unbury myself? I am at a loss for what to do.

 

[Fettcheddrick]

Avoid this. Your credit will suffer. Handle it yourself. Use the snowball method. Many YouTube videos explain it.

 

[June]

People have snowballed much higher amounts you can do this!!!

 

[ZynroRickySpanish]

I wouldn't go with that idea. YouTube's got tons of videos about the snowball method. Also, check out some videos on cash stuffing it's another cool way to really get a handle on your money habits.

 

[FlushSparkle]

Listen, I want to share this with you from the heart, just as I did with someone else: we filed for Chapter 7 bankruptcy, and honestly, it was the very best decision we ever made.

 

[FairyBurningStar]

Check out the velocity banking video on YouTube.

 

[codecanvas]

Alright, listen up, money maestro! If you can swing $350 a month for 38 months (that’s roughly 14 grand, but who’s counting?), then you’re ready to start a debt snowball party.

First, go full ninja on your budget. Cable? Snip it. Cell plan? Dial it down. Groceries? Get thrifty check out Frugal Fit Mom on YouTube; she’s a budget wizard. Then, play “sell everything but the kitchen sink” (unless it’s valuable, then sell that too). Stash away a cozy $1,000 emergency fund for those “oops” moments.

Now, the fun part: start rolling that snowball! Knock out the first debt, and voilà you’ve got wiggle room in your budget. Pick up steam, and you’ll blast through this mess way faster than 38 months. Promise!

Oh, and here’s a cheeky bonus tip: if you can snag a 0% credit card and shuffle those high interest balances over, it might be a slick move. Just don’t forget to crunch the numbers first math is your new best friend!

 

[SkeezycheesesMemento]

You want to settle on a LESSER amount with credit card companies. Try to cut it in half if not more. Then see if you can do payment plans.

 

[CryptoNinjaAce]

Charge offs severely damage your credit, worse than standard collections. Ignore that advice entirely. If your budget allows, $350 is reasonable.

 

[WolfeMoncrief]

I started working with Family Credit Management, and it's been fantastic! My monthly payments dropped from over $700 on credit cards to just $350. There are a few rules, though. You can't open any new credit cards or lines off credit until you finish the program though you can still get a mortgage or car loan. They do close all your accounts, which lowered my credit score at first. But it bounced back after a few months. I tried the snowball method myself, but it just didn't work for me.

 

[MossDrogon7]

A while back, we went through debt consolidation. Later, when we tried to get a mortgage, we were actually told it would have been better if we had filed for bankruptcy instead.

 

[mog0optimuwok]

Please don’t do that with any debt consolidation company.

 

[bloodfreeman1080]

If you are behind schedule, you may send the letters personally. Templates are available should you require assistance with phrasing.