Kenny Golde reduced his $212,000 in credit card debt to only $30,000 in a mere six months by negotiating directly with his credit card companies. In "The Do-It-Yourself Bailout," Golde reveals in detail how he dealt with nasty collection agent's phone calls, settled a lawsuit, and other tales from the battlefield of debt negotiation that ultimately led him to reduce his credit card balances by 85% and save over $100,000 in written-off debt. An emotional journey that took him from the brink of bankruptcy to being nearly debt free, Golde's story is meant to empower others in his position with the tools to settle their own credit debt.
Some of that story shown below
Los Angeles, CA (PRWEB) January 13, 2009 -- In "The Do-It-Yourself Bailout," 41-year-old Kenny Golde tells the story of how he reduced $212,000 in credit card debt to only $30,000 in six months by negotiating directly with credit card companies.
"The Do-It-Yourself Bailout"
"The Do-It-Yourself Bailout"
Small business owners and individuals alike will related to Golde's emotional tale of investing in a business that suddenly crashed in the current financial crises, forcing him to cover immense losses on credit cards. Golde relates his feelings of hopelessness as he struggled to make more than $3,600 in monthly interest payments without making a dent in the balances. "I was overwhelmed," he says of the painful weight of his debt. "I couldn't sleep. I lost my appetite. I lost my hair. I even lost a girlfriend."
Watching his savings dwindle and fearing bankruptcy, Golde stopped making payments on his credit cards for the first time in his life. In The Do-It-Yourself Bailout, he shares first-hand accounts of distressing calls with collection agents and threats of lawsuits that engulfed him with shame and despair. "I couldn't see any future, any job, anything short of winning the lottery that would get me out of that much debt. I was nearly destitute," says Golde.
Upon visiting a bankruptcy attorney, Golde learned that it was possible to negotiate settlements on his credit card balances, but after extensive research he found little helpful information that told him how he might do it. "All I found were companies who advertised they could do it for me for a fee," says Golde, "and it seemed they wanted me to believe I couldn't do it myself so that I would pay them."
Undaunted, he launched into the process and began negotiating with six major U.S. banks. In just a few months, Golde reduced his credit card balances by 85% and ultimately saved $115,000 in written-off debt. Among his successful negotiations, he settled one account with a $76,000 balance for $25,000 and another with a $39,000 balance for $15,000.
See full article : click here
0 comments:
Post a Comment