How to Resolve Credit Card Debt in Oregon

You can resolve credit card debt in Oregon by managing it yourself -- or by employing the services of a debt-management company. The Oregon Department of Consumer and Business Services reports that if you do seek help it should come from a reputable source registered by the state. In 2010 Oregon was cracking down on the debt-management industry by making registration mandatory and requiring companies to display their registration numbers in their advertisements.

Instructions

1

Get a copy of your credit report. The Annual Credit Report website offers credit reports for free and is the only site authorized to do so under the terms of the Fair Credit Reporting Act. View and print your report from the website.

2

Schedule an appointment with a nonprofit credit counseling agency registered with the state. Check the Oregon Division of Finance And Corporate Securities website to find an agency in your county specializing in debt management.

3

Review your credit report with the credit counselor. Get advice on solutions for your credit card debt. You can choose a debt-management plan which allows the agency to negotiate directly with credit card companies on your behalf. The agency becomes your advocate as it contacts credit card companies to set up monthly payments you can afford along with lower interest rates and perhaps the waiver of some fees and finance charges. You pay a management fee each month and also send the counseling agency a monthly lump sum covering the credit card payments.

4

Talk to the counselor about other options as well, including debt settlement, which allows you to resolve credit card accounts by paying less than the full balance, and bankruptcy.

5

Enter into debt management or choose debt settlement or bankruptcy. Debt settlement can be accomplished on your own. The SmartMoney website reports that credit card companies will settle accounts for 20 to 75 percent of the balance -- but only after you have fallen at least three months behind. Consult an attorney about bankruptcy.