What is the best way to eliminate credit card debut if it is too high to pay off in my lifetime? I am 54.?
We don’t wish to escape our responsibilties. We prefer to pay off the debut rather than declare bankruptcy. We are considering a Consumer Credit Counseling service proposal to pay off the debut in 5 years with huge payments. It would not be a loan. They negotiate lower interest with the card companies. Will this hurt our credit big time? It is going to be tough on my small retail gift business. We won’t be able to have credit cards. Is this smart?