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 Posted: Thu Jun 26, 2008 1:40 pm Subject: How much $$$ do most Debt Settlements request? |
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I am just beginning to research this debt settlement dealings and see that a person would be setting an amount aside monthly into an account.
Is this the current amount you pay out now, or is it reduced? Do I assume you stop making payments via the minimum to your CCard companies and instead deposit it into an account with the belief the the Debt Settle company is going to help fix things for you?
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raiderrhaterr
Joined: 26 Jun 2008
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mobile0311
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| Posted: Sun Jun 29, 2008 11:55 am Subject: How much do debt settlement co's request? |
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I | Quote: | | stop making payments via the minimum to your CCard companies and instead deposit it into an account with the belief the the Debt Settle company is going to help fix things for you? |
You hit it right on the nose. With the belief the debt settlement company is gonna help fix things for you. In my honest opinion, one company may work well for some people and others just have horrible experiences with them. You are looking for information in the right place. This forum has so many members who have first hand experience with most of these companies. I decided after reading all about the DS companies on here not to use any. I was already in debt and didn't want to lose any more money and be given false hope by most of these companies. After researching about all of these companies, you may find this is something you can do on your own. I know settling on your own is not for everyone but it can be done-easily. Save the money-save the aggravation. Many members here have had success on their own. Good luck!
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http://girlndebt.yesdebtfree.org
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girlndebt
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| Posted: Mon Jun 30, 2008 3:07 am Subject: Debt Settlement |
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Having done my own debt settlement, it is important that you are prepared. I added up all my credit card debt, took 50% of that and planned to settle before my credit cards were 180 days delinquent. I borrowed, sold personal possessions and saved to have enough. I started with $133,000 in credit card debt in December 2007, I've settled all but $7,500 right now - you can do this yourself, after the 180 days though, the credit cards charge you off and then you can go to collections, get sold, get sued and etc. If you cannot settle with them in the 6 month period or a year, I would look at other options such as bankruptcy or a debt management company. Some people just let it chargeoff and deal with it later, but it's always a risk depending on the state you live in and how much you owe.
If a debt settlement company is telling you you have 36 months to pay them, it is going to be a long 36 months and you risk being sued.
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lostindebtat50
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mobile0311
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| Posted: Mon Jun 30, 2008 8:35 pm Subject: |
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You can get sued anytime, no one really knows when, the sooner you settle your debt the better. Lost in debt did the right thing by accumulating about 50% of total debt even before begginning to negotiate settlements, this ensures that you will have better odds settling your accounts.
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pemperandgartle
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