David's Talk-Your-Way-Out Results
by Scott Bilker
David S. sent me a wonderful email. David wrote to me to tell me about how well he has been doing by negotiating with his banks. Nothing pleases me more than hearing about the financial successes of my readers! This article is about that success. You'll notice how detailed and systematic David is with his notes. They're short, to the point, dated, and will provide him with a reference when following up in a few months.
Beat the banks by threatening to call the Better Business Bureau
by Scott Bilker
Heidi wrote to me about her problems with a bank that was charging her a ridiculous interest rate of 33%. She had called the bank and was not able to do anything. I suggested that she transfer her balance and she called back and threatened them with calling the Better Business Bureau.
Will a debt settlement adversely affect our credit rating?
by Scott Bilker
Scott, We are drowning in debt--over $80,000 in credit card debt, some at over 30 percent! We are taking a second out on our house to pay it off. Should we ask the credit card companies to lower our payoff amount for paying off the balance in cash? Will this adversely affect our credit rating? Even a 10 percent reduction would pay for a car for my son. Your advice is appreciated! Viola
Negotiation persistence saves $21,000
by Scott Bilker
Amy originally contacted me to let me know about her success in general. We corresponded a few times regarding her latest negotiation with her bank. She already was doing well, so I asked her to let me know what happens--and she did! I must say that I am very impressed by her success and want to share it with everyone at DebtSmart.com so all can see what is possible when you are persistent! Congratulations Amy and thank you for allowing me to share this with everyone!
Scott Bilker, author of Talk Your Way Out of Credit Card Debt, promises that his book is the quickest and easiest way out of debt for people like Mary and John.
Calling banks for my 82-year-old mother
by Scott Bilker
Scott, I help my 82-year-old mother pay many of her credit card bills. She's scared to call the credit card companies and I don't want to be added as an authorized user or they will show up on my credit report. Is there a service that she can give a power of attorney to that will call the credit card companies on her behalf? Currently, she is NOT past due on any credit cards--but that will change if we can't reduce these interest rates. Thanks! Brian
Settling Debts
by Scott Bilker
Scott, My ex-husband was told that if he let his account go into delinquency that in about six months he'd be able to "settle" it for 40 percent of what he owed. He was also told him that it would NOT reflect badly on his credit report. Before he goes ahead with this crazy scheme could you please confirm that what this person told him is true? Rebecca
Credit Junkie
by Scott Bilker
Hi, Mr. Bilker! I'm a big fan but would like to share and get your opinion on what happened to me when I balance transferred several accounts. I'm also a credit junkie so am very aware of the status of my credit reports. FYI, My credit reports have... --Carol
Prisoner in Paradise Seeks Lifeboat
by Scott Bilker
Aloha Scott! I have about $20,000 spread over five cards (in three years time) in non-frivolous, "survival" debt racked up from rough times lately and inconsistent work, yada, yada, yada. I've been making minimum, never late payments and the occasional "transfer dance" to take advantage of lower interest rate offers. But man! Am I tired of the Dance!! --Roland
Debt Negotiation
by Scott Bilker
I need to know if this will really work. It makes me very nervous in not paying my bills so they can be negotiated. I talked to DEBTCO and I got very excited that I could be out of debt in 3 years but when I got the papers (contract) I felt a little uneasy. Should I be uneasy? Should I think more about consolidation? Please help me make the right choice. I really need help with my debt.
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