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Guest
100 Debtcc Points
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 Posted: Thu May 01, 2008 6:03 pm
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I wanted to create this topic because it seems I see people bashing Credit Counseling and Settlement and why one is better then the other. I work with a referral company that markets for both. One is not better than the other. Whats might be an excellent choice for one person might be a bad option for another.
Credit Counseling is great if you are not overextended and simply need to high interest rates lowered and have one payment. On average the APRs will be lowered somewhere around 6-8 %.If you can afford the payment for a DMP with a Credit Counseling Company you should.
However if that payment is too much then you should consider a Debt Settlement program. Debt settlement is an aggressive program and best for consumers that don't qualify for debt management, can't continue paying minimum payments, can't borrow to pay off debts and don't want to file bankruptcy. With Debt Settlement you will pay back is typically between 40% and 50%.
Be Sure when choosing either a Settlement company or Credit Counseling company you look them up on the BBB.
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tweetyturner
Joined: 11 Mar 2008
Posts: 167
2440 Debtcc Points
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Posted: Thu May 01, 2008 11:44 pm
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Hi guest, welcome to the forums. You have given out excellent information. Thanks!!
You are right in saying, that what seems the right option for one, may or may not work out properly with the other individual.
Often people choose the program in a hurry to get out of the loan without doing much research. Many other factors too influence their decision making, such as- opinion of friends and family, lack of awareness, lack of information, non-availability of options so on and so forth. The wrong decision that they make, only dig the grave deeper for them.
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Guest
100 Debtcc Points
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Posted: Mon May 05, 2008 3:33 pm
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Thanks , Just trying to help people before they make a mistake they will regret.
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tweetyturner
Joined: 11 Mar 2008
Posts: 167
2440 Debtcc Points
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Posted: Mon May 05, 2008 11:48 pm
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Great and wise thought  why don't you sign up with us? debtconsolidation is dedicated to help people with their debt related problems and your post shows that you have first hand experience with these issues. Everyone will be glad to have you in the board.
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mobile0311
Joined: 05 May 2008
Posts: 66
589 Debtcc Points
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Posted: Tue May 06, 2008 9:12 am
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i just did. I am mobile0311 now.
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