Charged-Off Credit Cards?
Dave explains to David how to pay off debts himself instead of using a debt management company.
ANSWER: First of all, you need to pay the charge offs. Do not let someone else handle this for you. Negotiate with the banks and credit card companies directly, working your way through these debts using the debt snowball.
Call the smallest debt and make them an offer of 50 cents on the dollar. If they take it, get it in writing before giving them any money. And do not do payments – pay them in one lump sum.
Don’t wake them all up at the same time either. Contact them one at a time or else you’ll have a zoo on your hands!