How Can I Best Resolve My Debt?

Question: Dear Luise: I currently have $16k in credit card debt on three cards(7k, 6k and 3k). The company I work for has just been bought out and I received a pension from them.  The check was for $9,200(11k-fed. taxes) and I want to use it towards my debt.  I’ve seen so many ads for debt consolidation where 50% of the debt? S.

Answer: Dear S.: Those people make money doing that and some are not reputable. I would first see if I could negotiate my own debt resolution. Write each company and tell them that you have lost your employment and are trying to avoid bankruptcy. Ask how much each one would settle for to close the account. Blessings, Luise

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