financal advice needed.

[some1somewhere]

I have gotten myself into a mess with some debt I have had for a while. I am carrying about 10 grand in cedit card bills, Most of it I've had for years, some mainly from putting school on it, and when I couldn't make ends meet (in 1998 I had problems and I went four months without any income in 2004) using them to buy food, and the infrequent night out to eat. Anyway right now I am unable to make the minimum payments, which are around 500 + a month. My DTI is most likely at or above 50%. I am not planning on buying a house right soon, nor a car so I don't plan on applying for credit. I did try to get a loan to put all my debts on one payment, but was rejected.

What I am asking is advice on what avenue to take. I have contacted Debt Relief of America, INC www.4dra.com, and I wanted to know if any of you have had experience with them or any other company that you would recommend. I don't want to declare bankrupcy, nor do I plan to. And I know that i have gotten myself in to one heck of a mess, and I am trying to get out. I just need some advice.

[TKpervert]

Since around Oct. of 2005, it's become almost impossible to discharge your debts through Chap 7, the courts will force you into Chap 13 where you have to eventually pay all (or most all) of your debts anyway.
So avoid the court hassles and don't even try bk.

To answer your basic question, no I've never had any experience with debt help companys, so can't recommend any.

Talk to your credit card companys and let them know your situation and that you will send them at least 'something' every month (even if it's only ten bucks) until you start getting back on your feet and can send more.
And of course try like hell not to run up those cards anymore.

Credit card companys deal with thousands if not tens of thousands of people in your situation so this is not new to them and you're not alone.

Deal with them in good faith and they should be willing to work with you.
They'll be happy to know that you're out there trying, and talking to them, instead of just falling off the planet and forcing them to sell your account to a collection agency ( which they won't do if you negotiate with them and set up a plan ).

Good luck.

[TklDuo-Ann]

The only thing I can add to the above is that you need to be careful with credit reduction/management companies. Most of those out there are legit. But, there are some who are not. I know of people (my brother's mother-in-law for one) who've payed money to companies only to find later on that none of the money was passed on to the creditors. If you go that route, I'd check with the attourney general and better business bureau before selecting one to use.

Ann