Credit Card Debt - How to Get out of IT?
I have a large credit card debt of $26000+ on a single card, and a few debts of $900-$1450 on three other cards. I am on a student fellowship, so I don't get very much money each month, but I really need to get out from under this debt - this month the interest rate seems to have drastically increased.
I have been reading a lot of information online about how to get out of credit card debt, and every bit advice seems to conflict with every other bit of advice.
A lot of people seem to advise negotiating directly with the credit card companies (for instance, http://www.creditinfocenter.com/debt/ and the e-book I purchased from this site ). But then there is difference in opinion about whether one should stop making payments for a few months and then negotiate or try to negotiate while making at least minimum payments each month.
Others seems to advise one to use a CCCS, but then there doesn't seem to be any reduction of the debt, which I would like.
Only a few people seem to advise using a 'debt negotiator', and they mostly seem to be people connected with the 'debt negotiation' industry.
I really just need to get out from under the $26000+ credit card - the others I can pay off over a few months, and I would like to keep them operational. But I don't really have cash right now to offer to make a settlement for the $26000 one.
I don't really feel like trying to negotiate with the credit card companies myself, which is way a debt-negotiator seems like an attractive option. But lots of people advise against them and it seems like they cost a lot of money.
Someone also recommended Bud Hibbs (http://budhibbs.com/_vti_bin/shtml.d...ng_in_debt.htm ), but I can't tell what his programme is really.
I really don't know what to do, and I don't know who to ask.
Can anyone offer good advice?