I need to help knowing where to start...

I have lots of debt, both credit cards and other personal loans. I have only one more PDL that I'm still working with, Zip19 (the worst!) and now I need to start working on my other debt. Do you suggest I try to tackle this myself or use a company to work with my creditors? I'm not sure the first step if I do it myself but after reading several posts, I'm a little scared to trust a company. Any suggestions on what is a good company to use? Any advice would be great appreciated!

Personally I would DYI. It will cost you less even if you don't settle as well as a "professional". The best thing to do is order your credit report and work from there. I would start with the lowest amount owed and DV them. After making them validate then offer them 50% as SIF. I would suggest just dealing with 1 at a time until you get a good feel for it. Don't wake up the others if they aren't harrassing you at this time.

Sorry I'm new at this...what does SIF mean?

SIF = Settled in Full

Does anyone have a sample letter I could use?

I used the sample letters here when I sent my first debt validation letters, but have found the brief "I would like you to verify this said debt..." letter to be more effective and "real" rather than the form letters. Yes they serve their purpose, but so do the less wordy ones.

and to the right under "usefull links" you'll see the sample letters

I've not talked with any of my creditors about this but they have been calling me wanting some money so hopefully they will be willing to settle. I'm finding a letter that looks like the option is for payment in full. Things are getting better but I'm not in the situation to pay everyone lump sums of money. Is there are letter available or one that someone has used that worked that discusses extended payment plans?

Really its easier to negotiate payments and settlements over the phone. The two main types of letters on this site that people send are the debt validation letters and the cease communication letters. It is possible to send a payment plan or a settlment letter to the CA to see if they accept but I find it easier to just call them up and tell them "hey I have xxx.xx dollars that I will offer as Settlment in Full on your debt will you accept. If you accept then I require you to first mail a signed agreement that this amount is for Settlement in Full and I will only pay via a bank certified check." If they get nasty then hang up and try back a week or two later. Read Nascars post about settling over the phone because it is very helpful.

we tried to settle with some of our creditors and they would not budge. I had 50% of the amount for my hsbc card and they would not take it. We tried the whole hardship thing, we have other accounts in legal action, etc. then tried the just plain old we have x,xxx this is all we have and we really want to settle. That is when they turned us over to a 3rd party -- so we added them to our debt settlement program.

help me

hey joe meathead,couldn't think of anything witty to say huh?
typical troll.