I was recently forced into retirement, and a couple months later my wife was diagnosed with an ailment that prevents her form working in her profession. As a result, our present income is about 1/4 what it was.
I have about $55,000 in credit card debt that I can no longer afford to pay. I am about 1 month late on payments. I have about $29,000 in settlement money (over and above my retirement savings) that I can use to pay off these credit cards. How do I go about this? Should I call the credit card companies myself and explain my situation? Should I hire someone to assist me? If hire someone, Who? If make calls myself what should I say or not say? Do I need to record the calls for my protection? Any advice would be welcome. Thanks.