Langhorne or T&C

Don't be afraid. Closing your checking account and opening a new one is a good start. I have spoken with both T&C and Langhorne, both seem like reputable companies. You will have satisfied and dissatisfied customers no matter what. How long have you been paying on your pdls? And have you tried getting your accounts marked paid in full if you have been paying on them for awhile? Langhorne is a settlement company which will work with your creditors to lower the debt you owe, and consolidation extends payment to your creditors over a period of time until the debt is paid off. The choice in the end would have to be what you feel suits your situation and budget. I was able to get my pdls marked paid in full and the one's I legally owed on the principal settled with me for what my state's law says I owe.

If i go with Langhorne will i have less time to pay off the ones i still know i owe on,or do you have to pay right away. I have 6 altogether. The 2 that i have been paying the fees on forever are GFSIL& ICS,which i believe are one in the same. i feel i have paid my debt to them 10 times over. The other ones i still owe and i intend to pay them. So you are saying that if i go woth T&C i will have longer to pay them off. I am going to call both tomorrow from work time permitting.I need to get something going before this friday,as 2 want it all then. I know there is light at the end of the tunnell,if i can just get myself through the process. It really takes it all out of you when you are in that situation. Your life seems to stand still and you can't focus on anything else. Can i ask who you worked with or is that too personal?
thanks steelers1. I really feel this place give people hope.

You'll have longer to pay them off with T&C, assuming the pdl's will work with T&C, but you'll have to pay more in the long term. This isn't a knock on T&C. Far from it. (When I represented some of the pdl's I always recommended they work with T&C because I was pretty impressed by them.)

What I'm referring to is simply the difference between credit counselling and debt settlement. Credit counselling is a payment plan. They set up new terms, which most creditors accept because they'll be paid in full provided you stick with the program. (There is a high drop-out rate, though, because of the long-term nature of the program. And if you do drop out, your original terms are reinstated subject to credit for any payments you do make.)

In my program, you are saving up your own money for lump sum compromise offers. I never touch that money, although I will need to verify that you are saving it. Meanwhile I negotiate with the lenders to get them to accept a lower percentage of the balance as "payment in full".

While you will have to put more aside each month than you would in credit counselling, it's still a big savings over paying the lenders on their terms. Let's assume you have five payday loans at $30 per $100. Some are internet, and some are storefront. Let's also say that the total principal on these loans is $1500.

If you pay the lenders on their terms, you'll be paying anywhere from $300-$450 per paycheck, just to cover the fees. If you don't pay extra, you'll still owe $1500 at the end of six months.

In contrast, you might pay about $60 per month towards them in a credit counselling program. (I don't know how long T&C gives you, but most programs last at least 24 months.) The lenders will expect you to pay the fees that have accrued up to that point (assuming they accept the program) so you'll still owe about $1500 after six months (because of the addition of the fees) but you eventually pay the debt down to zero. I don't know how successful T&C is in getting lenders to accept their program, but I can vouch for their trustworthiness. The money you give them WILL go towards your debt. (When I represented pdl's, I saw their checks coming through all the time.)

In my program, I would expect you to put $1125 aside over 6-12 months. One third of this I take as my fee. The remaining $750 goes towards your savings. This remains your money at all times. You only pay the amounts needed to settle. So if I can get better deals for you, there will likely be money left over. (For example, if most of your loans were over the internet rather than from storefronts . . . )

In the end, you need to decide which type of program fits your comfort level. I don't have anything bad to say about T&C and I would understand completely if you go that route. We simply have different approaches and you'll need to decide which fits you.

I will have to tell you that i signed up with t&C about 6 months ago, and thought they were the greatest company and i was going to be left alone by the PDL people and pay off my debt and be home free, but shortly after i signed on with them i had to switch my contract and add on creditors and take some off, and didn't get any payment coupons to pay them, so i called and called, they told me to make good faith payments and i did, but still never recived anything from them. THey also never contacted my Creditors and i had PDL's calling me and harrassing me left and right, I had to start trying to settle with them myself, but it wasn't working. SO i paid about 300 dollars to t and c for nothing it seems like. i call and call and still no one has gotten back to me and have even emailed a supervisior.

I now have just recently signed on with Langhorne law and what they are offering seems great. I can't say anything good or bad because i just signed on with them on Friday but i haven't gotten any calls from a creditor, and by this time in the day i have gotten atleast 5 0r 6 at work and the same at home.
give them a call, it can't hurt to talk to both companies and see what they could to for you.

I was with T&C and I had a good experience with them. But toward the end, it seemed to take forever to get someone on the phone. Then I started emailing and I would get a call either at the end of the day or the next morning. They are very busy with all the pdl clients they have taken on. I think they are just overwhelmed right now. From what I have read on the Langhorne Law postings, it seems to me that he has started a good thing for the people dealing with the pdls. You all have to use your best judgement and use the one that offers the best for your situation.

I think I read in another post that a member was told by T&C that they are very busy. And that they have hired more staff and are training them, I think they got alot of their business from this site. Tammy's right, you have to do your homework and each situation is different, but I really like what Langhorne Law is doing, sounds great.

Steelers1 is right about T&C I posted that thread after talking with the manager over there. On Friday she called me and told me that all my creditors & pdl's had accepted the proposal except stinking Cash Call. I did not receive 1 single collection call all weekend and what a beautiful thing that was. I actually got a call from CashCentral this morning telling me that they accepted T&C's proposal-that was a switch, but it was good to hear the confirmation from someone other than a T&C rep, so I know it is true and that T&C does work with PDL's. Marcia Brady's Lovechile is a great source of knowledge and I think it is wonderful he is active in the forums here and gives the members here the benefit of his knowledge THANKS. Geogirl29 everyone here has the same advice by saying you need to consider your options and do what is best for your situation, no one can or should make this important decision for you other than yourself.

Like everyone else has said, I would contact both companies and go from there. No one really knows but you which option will work best for you. I started with T &C but ended the program early because I had better luck on my own. I am now out of that trap but I am working with a debt settlement company for my regular credit, so to speak. Things like personal loans and credit cards. I thought long and hard about what my options were. I was able to afford a higher payment to the debt settlement company and it's a much shorter program than debt consolidation for me.