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#18
12-04-2008, 12:21 PM
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credit card debt settlement
I decided to try to settle the debts myself - so far their offers have gone as low as 54% - with that card currently being about 3 months late. I hoping to get to about 40%. I have Chase, Advanta, AMX and Citi I h ave to work with. My question is -- does anyone have any recent settlements with any of these - and do any of these send you to court quickly?
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#19
12-08-2008, 11:23 AM
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We had similar experiences as Linda. We are very happy with our settlement program. Our program allows us to keep the money in our savings account. They just took out a % of each deposit for the first 10 months. After that the full 700.00 per month is going to the savings account. we have already settled 1 account and I made the payment myself. I like having control of my own money. That seems to be the key.
And for all those people who say that debt settlement is going to ruin your credit. Well in my opinion, my credit was well on it's way to being ruined already. There was no way that we could continue to make min. payments on our 3 cards. Total we had 43,000 in debt and were paying 800+ in min. payments. So will debt settlement ruin your credit? Sure, but we were in a bind anyway, so at least there is a light at the end of the tunnel. Before we joint the settlement program there was no light.
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