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$50000-$100000 Debt Settlement in Philadelphia PA – for Michelle R.

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“Can you pay my bills…”


This case file comes to us from Philadelphia PA and it is in regards to a possible debt settlement solution.

The credit card debt is $40000 that has to be dealt with in the near future. In this case Michelle R. is asking for a complete debt settlement plan with her creditors. Besides the 40 grand she owes to her credit card companies owing she has a vehicle loan with a $45000 outstanding balance.

So let’s go through Michelle’s submission.

Michelle said she found us using Google and she did agree fully to letting us use her story here today. She said she is considering a debt service soon and it should be likely debt settlement. She says she has never claimed bankruptcy and neither has her husband.

Michelle also points out that there has been collection agencies calling them at night time and in the daytime – they’re experiencing a lot of stress due to these phone calls. Luckily so far there has NOT been any repossessions or attempted repossessions of any of their belongings.

Michelle and her husband Brian own their home so they have a mortgage payment to deal with as well. She was 43 years old at the age of the submission. She rounded off all of her credit card balances to the nearest thousand just for the ease-of-use here in this case file.

“I’ll buy you a diamond ring my friend if it makes you feel alright….”


Michelle From Philly PA – Credit Card Debt

  • Visa card out of $12000
  • MasterCard out of $18000
  • American Express card debt of $10000

She did point out that her husband may have another credit card she does know about so this kind of makes us think there is a lack of communication going on in their marriage. A lack of communication when it comes to financial matters can easily breakup a marriage (but of course that is none of our business). Michelle also has one car loan for her SUV which is at a current balance of $45000 and change. It is for her Toyota Highlander Hybrid.

Besides Michelle’s credit card debt and the money owing on her vehicle she doesn’t have any other debts. She says that she can afford a payment of $450 each month towards paying down her debt – depending on the settlement plan she goes into with your creditors.

Michelle’s Credit Scores

  • 632 for TransUnion
  • 645 for Experian
  • 651 for Equifax

Her main bank is PNC Bank and she actually gave us the link to it on Google maps. Her PNC branch is at 1600 Market St., Philadelphia, PA. Michelle is a teacher at a high school in Philly and she also has a part time job selling things on eBay – and we are not quite sure what that is.

She says she’s been teaching school for over a decade now and that she went to the University of Pennsylvania as soon as she got out of school. She’s been a teacher ever since and claims that her financial security should be fine going forward because of her steady job and good reputation.

Main Reason For Debt Between $50000 – $100000

Her main reason for being in debt is because her spouse was unfortunately unemployed not too long ago and this has made things very hard for them as far as paying bills, and the mortgage etc.

Not only does she have a car that she owes $45,000 on still – her husband also has a Toyota Tundra truck as well. Both of these vehicles are almost new so there’s a lot of money owing there. They have three children and all of this included means that they are struggling to get everything in order and making ends meet. She also talks about feeling guilt and shame over their current financial circumstances.

She should try to remember that she is not alone when it comes to having difficulty with money.

“Money….it’s a gas..”


She goes on to say that she blames herself and her husband for the reckless spending ever since they were married. A lot of bad decisions were made along the way and now they are paying for it. She talks about not being able to sleep properly and about the stress – making them feel like they can’t even function anymore. This is all very typical for somebody who is beginning to drown in debt.

Michelle says that their relationship is beginning to suffer and the children are seeing the problems now too. Their kids notice their stress and they can tell something is definitely wrong because their parents aren’t spending money at all like they used to. They no longer take vacations and they’re not buying any new clothes these days. They’re both petrified of claiming bankruptcy and right now they think they’re only hope is to get themselves involved with a debt settlement company. They need to get some professionals in and make a deal with the creditors to pay down their debt over the next few years. Michelle has got her husband now with her in counseling and they are getting a budget under control and getting ready to deal with not having any credit for a while.

“Money for nothing…”


Michelle’s Debt Settlement in PA ($50000 – $100000)

How Did You Find Us: Google

May We Publish Your Story?: Yes

What Debt Service Are You Considering?: Debt Settlement

Ever Claimed Bankruptcy?: No

Have Collection Agencies Contacted You?: Yes

Any Repossessions?: No

Residence: Own

First Name and Initial: Michelle R.

Age: 43

Visa Card Debt?: $12000

MasterCard Debt?: $18000

Amex Card Debt?: $10000

Other Credit Card Debt?: No other credit card debt but my husband might have some.

Personal Bank Loans?: I have one car loan for my SUV with $45,000 still owing

Vehicle Loan(s)?: Oh I already spoke about the vehicle loan above under personal loans.

Student Loan Debt?: No I do not have any

Other Debts?: That is all for debt because I have put everything onto my credit cards.

Mo. Payment You Can Afford?: $450

City/Town/Area: Philidelphia

State: Pennsylvania

Credit Score(s): 632 – 645 – 651 Trans Union, Experian, Equifax respectively.

Main Bank (won’t contact): PNC Bank

Income Sources (explain all): I work as a teacher for a high school in Philidelphia and I also have a part-time job which is self-employment.

Michelle’s Job History

I have been teaching for over a years now. I went to University of Pennsylvania right out of high school and I have always been a teacher ever since I graduated. I have a solid reputation in my field and I am not a high risk person financially.

“We’ve created us a credit card mess..”

Main Reason for Michelle’s Debt

The main reason I have such high debt is because my husband lost his job eight months ago and we have really struggled to try to make ends meet. We have tried many different things to reduce our expenses but with three children, a mortgage, two car loans, and growing credit card we are really beginning to drown. On top of that I also got in a car accident a couple months ago which is cost me some money for medical expenses and also I was off work. A lot of this was bad luck and no fault of our own so it’s been really frustrating and quite frankly very embarrassing to be in the situation. I suppose we should have been saving some money for a rainy day over the years but we just didn’t think we would ever have to do that. The stress is really gotten bad too because we just don’t know what we’re going to do as far as making payments just for the mortgage and food. We probably will have cut down on all fun stuff and entertainment stuff which really is hard to explain to her children who are ages 7, 10, and 15. This is also another reason why my husband and I feel guilty and ashamed. Mostly because we feel like we let our children know that was harsh thing to take. We have had to make a hard decision in regards to our monthly budget because of all these financial problems and this means absolutely nothing extra. We haven’t bought new clothes for anybody for many months because that is something we just can’t afford right now.

Secondary Reason(s) for Family Debt

I suppose the other reason we are in debt is because of just simply overspending on everything in sight. My husband and I have rich taste and every time we get savanna has to be the best. This is really cranked up or debt ever since we got married. I suppose it’s the classic thing for the young couple gets together and start living the good life when they can’t really afford it. We went on trips every year with the kids and we spent money on toys and entertainment what’s more than our neighbors and friends have for their family. Some people would think that we were well-off perhaps rich because of the vehicles we drive, the house we live in, and the jewelry we wear – but the truth is we are so far in debt we can barely breath sometimes.

The Toll Debt Takes On A Family

It’s getting to the point now where we are having trouble sleeping and it’s affecting our relationship in a big way – in every aspect. We feel completely stuck but we have nowhere to turn and there are no banks willing to give us any kind of consolidation loan just so that we can get our interest rates down lower. We can’t make the minimum payments on our credit cards and we have overdue bills all the time. We have the collectors calling our house at all hours and it seems like our whole life is collapsing.

Our friends and family know what we’re going through and some of them have offered to give us a loan but there’s no way that mu husband and I could handle that. I guess it’s a pride thing but we don’t want to borrow any money from anybody that is a loved one or friend.

At this point we have to consider some sort of debt settlement because we don’t see any way we could pay all this money back with the amount we are taking in each month now. We are looking for some sort of debt relief for sure and we could probably use both services.

We could use a debt settlement plan and we could use some debt counseling.

My husband Brian and I plan to change this around as soon as we  possibly can but it’s going to take some time – we know that! We also understand that our credit rating will be damaged even further if we go with a debt settlement, but perhaps not as bad as if we had claimed Chapter 7 bankruptcy. I look forward to hearing back from you to see what my options are – if there is any way around this without hurting our credit any further that will be much appreciated.

Thank you for your service and we hope to hear from you very soon.

“I work all night, I work all day, to pay the bills I have to pay…”

Concluded Debt Settlement In Philadelphia – $50000 – $100000

So this concludes Michelle’s story – she was approved for a debt settlement and ended up paying back close to half of what we she owed in total on her combined credit card debt. She paid full payments back on her Toyota. Her husband ended up getting a job in Harrisburg so they are now paying back all their debts. It’s unfortunate that they had to go through this and now he is commuting between Harrisburg and Philadelphia, but it was necessary to take care of the family finances.

Video for $50K – $100K Debt in PA

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