Internet's first get-out-of-debt community - 134,000 members

Guest · Posted: Sun Aug 17, 2008 5:44 pm Subject: Chapter 13 or DIY settlement?

I am in the state of Georgia and since debt settlement isn't an option here, except maybe DIY,it seems to me that filing bk is about my only option and chpt 13 is what I am considering. I would like to hear your stories about the experience, amounts you owed and how much your payments were. I have about $34000 in unsecured debt. From 3 home business start ups in years gone by to a job loss last year. Supplementing income with credit, saw no other choice at the time. There are tales of DIY settlement, but I don't have thousands of dollars saved up to settle myself. And how often does someone get sued during DIY settlement anyway? Lower payments is what I need. So please, any input would be appreciated.
Also on another message board someone posted to me that alot of Chapter 13's fail and I was wondering why that was, and if that is true.
Thanks

Posted: Sun Aug 17, 2008 6:20 pm Subject:

I dont know who told you that but debt settlement is definitely an option for you in GA. Before we moved from GA to DE, I had Teresa Cadiz help me over at Superior Debt. She was able to help us and now we are almost done and have been with them for 20 months.

She's great and helped us to figure out what would be the best way to handle our situation.

Please email me and I'll give you all of her contact information.

Posted: Sun Aug 17, 2008 6:21 pm Subject:

I dont know who told you that but debt settlement is definitely an option for you in GA. Before we moved from GA to DE, I had Teresa Cadiz help me over at Superior Debt. She was able to help us and now we are almost done and have been with them for 20 months.

She's great and helped us to figure out what would be the best way to handle our situation.

Please email me and I'll give you all of her contact information.

SusieQ · Posted: Sun Aug 17, 2008 11:45 pm Subject:

I am currently working with Superior too. I had a business that closed, and owed 90,000 and the DIY option just was too much for me. I needed professionals to handle it for me, and they are worth every penny. My monthly payment, including their fee, is about 1/3 of what the credit cards INTEREST ALONE was. And in only 2-1/2 more years, I will be debt free!

Posted: Mon Aug 18, 2008 7:47 am Subject:

I personally would not file bankruptcy until at least one of them was threatening a lawsuit and making steps toward it. I generally advocate the DYI method but there deffinetly is more stress and pressure that comes with that method. If you hire a company to do it for you make sure you fully investigate them and keep tabs on where your money is going. You certainly don't want to get into the same boat that some are in that used Sifxpert. I was not aware of debt settlment companies being illegal in Georgia but you could probably contact the state AG and verify. Another option is you could hire a lawyer to do it for you. I did that with one of my past debts that was a dispute with an apartment complex. The lawyer settled it at around 70% but the apartment complex never provided the proper paperwork. I ended up going back and settling it myself around 50% after getting the appropriate paperwork. The lawyer helped though because the complex wasn't budging until I had the lawyer send them a letter on their letter head.

Posted: Mon Aug 18, 2008 8:04 am Subject:

Guest you are correct , well kind of. debt settlement is banned in Georgia . The only companies that can legally offer debt settlement services in that state is a law firm with a licensed attorney in the state of GA. j_levi you are correct as well. Superior used to be able to work in that state but no longer can legally due to recent changes in GA state laws.

Guest · Posted: Mon Aug 18, 2008 1:47 pm Subject:

Okay, so what if I have talked to some settlement companies who say they have lawyers in Georgia? I have talked to so many companies I'm not going to be able to call the name right now, but they were in California, and the man said that they could do it.

Posted: Mon Aug 18, 2008 2:37 pm Subject:

Ask them the name of the law firm they work with. I will be happy to check them out for you. If they can't than don't do business with them.

J levi · Posted: Mon Aug 18, 2008 3:25 pm Subject: GA debt settlement

mobile0311, I am not aware of this so I had my mother-in-law call the attorney general's office in GA and that is not the case. The person she spoke with at the AG's office said that debt settlement companies did not need to have attorneys on staff to do debt settlement.

I'm a bit, okay lots confused! Is there some place this is being stated in a legal document? I am referring my friends and family and really do not want to have them in trouble if that is the case! Plus as American's we should have the Right to choose, rather than be told who we can use!

Any direction would be greatly appreciated!

Posted: Mon Aug 18, 2008 3:44 pm Subject:

Trust me . I work in the industry. Georgia is 1 of 12 states that currently prohibit for for-profit debt management. Your parents or friend would not get in trouble . It would be the company. I believe the fine is 50k if a company is caught doing business in GA " but don't quote me on that". I will have to do some Google searching tonight to provide you with some more info on this subject.

sabrina · Posted: Mon Aug 18, 2008 4:18 pm Subject:

Mobile0311...Not sure about what you are quoting, GA is a state that allows debt settlement. If you call the AG's office they will confirm that you are incorrect.

In a few of the smaller states or where legislation has been passed there are penalties for companies offering the service. It would be best to always confirm with the attorney general's office that such a service can be provided in the state resided.

J levi · Posted: Mon Aug 18, 2008 6:44 pm Subject:

hhmmm...not that i'm a skeptic or anything....but I do not know who you are so I do not trust you plus you could be someone that is from another program that provides services other than settlement or a creditor/collection agent yourself. I will be calling the attorney general's office first thing tomorrow morning...i have the number and will get the answer i'm looking for first hand.

mobile0311, please do not take this in any fashion other than I learned in college to do my own investigating as things could be skewed to fit the individual's agenda. Just want to be sure that when refering my friends and family that I will have them go through Teresa at Superior Debt because she has really helped me more than most have given me from several companies that i've talked with. Anytime i have questions or need to talk, she has been there for me each and every time! Even spoke with her this evening and she re-affirmed they are doing business in GA. But will post an update in the morning after speaking with the attorney general's office.

Thank you everyone for all the input.

Posted: Tue Aug 19, 2008 7:08 am Subject:

Trust me I am no bill collector. As a matter of fact they hate me. I work in the debt settlement and non-profit credit counseling industry and I attend both TASC and USOBA conferences that keep my company and other settlement companies up to date on laws. Georgia is one of 12 states that has a restriction that only non-profits provide dmp service or exempt groups can do debt settlement. Attorneys are the exempt groups.The 12 states that have banned debt management for profit are Arizona, Georgia, Hawaii , Louisiana ,Maine , Mississippi , New Jersey , New Mexico , New York , North Dakota , West Virginia and Wyoming. I am not saying that Superior debt relief is a bad company. As a matter of fact I think that are a reputable company that does good work. I am just saying that if they are still marketing debt settlement in that state they can be fined because they are not licensed attorneys in the state of GA.

Posted: Tue Aug 19, 2008 7:49 am Subject:

I think the operative word here is "for profit" vs. exempt or non-profit companies. IMHO

Guest · Posted: Tue Aug 19, 2008 10:09 am Subject:

So J_Levi, what did they say when you called the AG's office? Isn't this confusing? Is AG Attorney general? I guess I could call them myself. I could ask a lawyer but can an attorney set up the kind of payments a debt settlement company can? I don't have any money hidden away to settle all at once. I would need to make payments.
Thanks for all the advice

J Levi · Posted: Tue Aug 19, 2008 6:01 pm Subject:

Hi everyone...sorry for the delay in posting what happened it has been a hectic day.

mobile0311, you are incorrect debt settlement is not the same as debt management as explained by the attorney general office. I did a lot of homework today, debt management is not the same as debt settlement because debt settlement companies like Superior is not handling the money or management of all debt; they are handling negotiating lump sums with creditor therefore no management is needed. Non-profit organizations assist with debt management as further explained by the attorney general's office. Now if you do a google with debt management the only thing that pops up is credit counseling organizations that are non-profit or those that have lost their non-profit standing. Debt settlement can take place in Georgia without the company having attorneys present. So my choice with having Teresa at Superior debt help me with my debt was a postively right choice for me along with having her my family and friends to the right place for help.

Again, Teresa had explained this as well when I had first consulted with her and was pleased to hear the attorney general's office reaffirm what she stated. Whew this has been a load off of my mind and a sense of relief knowing that I have been able to inform and educate myself confirming everything that I was told.

I have also confirmed with Teresa about your list that you have stated as far as states go, there is only 3 states they do not work in that is new jersey, south carolina and kansas debt settlement is not allowed. She is from hawaii, we have had many conversations about the culture, and she is still doing business in hawaii. Given her character and my understanding of the hawaiian culture, she would not knowing put anyone in harms way as it would come back to her 10 times worse.

Not on here to debate but rather to inform those seeking help. If you would like to hear more about my experience with Teresa be sure to email me and I will be happy to share everything with you.

Blessing
Email and name removed for your protection - Goudah

*Name:
*Email:
*Phone:
*Zip:
*Debt

	* denotes required field

Internet's first get-out-of-debt community - 134,000 members

Chapter 13 or DIY settlement?

Members Area

Free Debt Counseling

Ask the community

Featured Discussions

Featured Articles

Question of the Month

Also See

Recent Forum Discussions

Recent Blog Post