Debt Reduction- Advice On Credit Card Debt Reduction, Debt Reduction Services, And Debt Reduction Plans

??? ? asked:


My home value is sharply down, the equity used to be 60% three years ago, now it’s barely 35%.

My 401(k) is up on paper, but taking into account plunging exchange rate of US dollar, it’s actually 40% down. But because it’s up on paper I would still have to pay deferred income tax, despite reduction in real value.

My social security pension is part of $7 trillion government debt, obviously never to be recovered.

How am I going to retire?

Jackson Diza

Mark K asked:


I am considering using a dept reduction company to reduce the principal of my credit cards. They claim that the credit card companies fair out well by negotiating lower low balances and getting those balances paid off right away. I know this hurts ones credit but after a few years and having a better debt to income ratio that my credit will improve.
Has anyone used such companies and what were your results.

Long Gauani