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I came across this website by accident but WOW! is it full of information. My husband and I have some credit card debt that we have let become seriously deliquent (about $2500-$2700). We also have quite a large amount of medical debt and one of the creditors has filed a suite against us and is now threatening garnishment. We are not bad people, we both have jobs and own our home. Our son has had chronic medical issues since birth and we have been buried with these expenses (13 years worth). I kept telling myself that I needed to make contact with these companies but put it off because to be honest, I was just afraid...can't say exactly why, but I was. Now we are in a mess. My question is, should we turn the debt over to a consumer credit counseling agency or try to make contact with the creditors/collection agencies ourselves? The thing that appeals to me about the CCCS is just making one monthly payment. Any advice would be so gratefully appreciated. I'm losing sleep and constantly a nervous wreck about the position we are now in - our credit is ruined. Thanks!

Posted: Tue Jun 10, 2008 2:00 pm Subject:

Since these accounts are " seriously deliquent " as you stated , your credit has already been affected. I would suggest just contacting and settling these accounts on your own. You will save a lot more money and get out of debt a lot faster.

Posted: Tue Jun 10, 2008 2:20 pm Subject:

For what it is worth, I agree with mobile0311. Alot of what they do you can do, you just have to know how and then spend alot to time doing it.

Luke

Posted: Tue Jun 10, 2008 2:26 pm Subject:

Thanks Luke . The force is strong with you. Smile

Here is why i say settle on your own. Why pay a credit counseling agency to pay back the full balance with interest " much lower interest but still interest " when you can settle these accounts for probably half. Plus CCCS is going to have a monthly fee of like $25-$50 dollars. CCCS is good for people who are around 2 months late or less . Its just not worth it at this point. Best to get out of debt fast so you can be in a prime position to reestablish your credit.