Talk Credit Radio With Gerri Detweiler

If you are upside down on your home and you have a second mortgage you may be wondering whether you can settle the second for less than you owe. Debt settlement expert Charles Phelan joins me to explain how settling second mortgages work. You'll learn: What makes lenders willing to consider these deals; How low can you go? How it will affect your credit; and the hidden danger you need to watch out for. In the third part of the program, Charles shares his advice for negotiating deals on credit cards. Find out the one thing you absolutely must do before you settle a debt. Episode aired live August 11, 2012.