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 Posted: Thu Jun 28, 2007 10:42 am Subject: DMP, DCC or Debt Settlement? Which to choose? |
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I'm not sure what route to take. I'm afraid of being taken advantage of and I want to get things under control now, before it is completely out of hand. We have over 70,000 dollars of Credit and car debt, plus I have student loans that will come due next year, totalling another 15,000. Already maxed out our home equity option. We can't keep up. Which option is best? And- which option has the least long-term credit impact?
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tdrzal
Joined: 28 Jun 2007
Posts: 2
Debtcc Points: 77
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| Posted: Thu Jun 28, 2007 10:47 am Subject: |
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They are all going to impact your credit in one way or another. I would recommend speaking to different companies for each option, and once you have compiled all of the info., go from there. There are many good and bad companies, unfortunately more bad ones, so it seems. Thoroughly check out each company you talk to (i.e., BBB) and don't be afraid to ask questions.
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Tiffany99
Debt Samaritan
Joined: 15 Jun 2006
Posts: 1064
Debtcc Points: 19133
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| Posted: Thu Jun 28, 2007 2:30 pm Subject: |
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Perhaps with the amount of debts that you owe, I will recommend debt settlement75 to be a suitable option for you. If you go for debt consolidation, it is going to take you forever to pay everything. Shop for a reputed debt settlement company that is not going to be a rip off.
You may call the student loan company and request for forbearance. You might get them to work on your terms and at lower interest rates on your loan
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orake
Joined: 20 Jul 2006
Posts: 483
Debtcc Points: 6732
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