logo

Debtconsolidationcare.com - the USA consumer forum

Signedup with "superior debt relief"

Date: Thu, 12/07/2006 - 16:09

Submitted by Blizz127
on Thu, 12/07/2006 - 16:09

Posts: 48 Credits: [Donate]

Total Replies: 28


Hey all, Thank you again for your help and advice :). I just signed up with "superior debt relief", it seems like a good program and from what i've seen on the site it seems really good but the only problem is the waiting 6 months to settle, i'm pretty nervous about it and i don't want my parents getting really pissed at me for the next 6 months if people call the phone. Can you guy's give some advice or maybe a better option or should i stay and putup with it? :)


Yeh! Creditors need to understand that you can't pay at the existing interest rates and the fees are making the situation tougher. They will consider your situation to be true only when they have checked the status of your account. If you are regular with your payments or haven't missed the payments for long, they say you don't fit for debt settlement because you can afford the payment very well. So, leave it on the settlement company, because they are more experienced in doing tactful negotiations with creditors.

While you wait during this period, creditors will call and keep bugging you for payments. Just let them know that you are working with your settlement company and they have a number where the creditor can call. Just forward it and keep your settlement company informed. Well, this is a test of your patience. Hope it turns out to be good! :)


lrhall41

Submitted by Howard on Thu, 12/07/2006 - 16:17

( Posts: 310 | Credits: )


Well i think 1,300 bux is like a little over the top in fee's lol. I like how they have it set out but i guess i'm a little too impatient on the whole being called part. but they also advised not to talk to the creditors lol. I dunno, i might stick with them i have 10 days to cancel but i may just stick around.


lrhall41

Submitted by Blizz127 on Thu, 12/07/2006 - 16:26

( Posts: 48 | Credits: )


Compare the fees with the amount of interest and fees that are already charged on your loan account. This is going to be waived off in the program. You have already made the first move and take care of the debts. Good!

Now, look around and weigh your other options. If you find something better and adjustable to your situation, research on the plan. Otherwise, stick to the present one.


lrhall41

Submitted by Howard on Thu, 12/07/2006 - 16:36

( Posts: 310 | Credits: )


Well i want to make payments to them right away i see the "forgetadebt.com" which also has a good standing here and insted of "waiting without paying for 6 months" they would try submitting my inability to pay back the amount and try to settle" yeah i sucked at phrasing that but i dont really want to wait 6 months and have them bugging here lol. i like SDR's credit repair thing at the end of it though.


lrhall41

Submitted by Blizz127 on Thu, 12/07/2006 - 16:42

( Posts: 48 | Credits: )


I know there is waiting period in a settlement program. No matter, you sign with any company. I will be curious to know how "forgetadebt" can negotiate the accounts with your creditors without your payments in halt. I will not get carried away, instead do some research on the company. Sometimes, few tricks are used to sell the program, I assume. Everyone wants to stay in the business and there are competitors all over.

Do every research that can be done from your side.


lrhall41

Submitted by Howard on Thu, 12/07/2006 - 16:53

( Posts: 310 | Credits: )


I personally dropped out of my program with SDS last months. I was with them for eight months and nothing was settled. I am having better luck on my own right now. I'm not going to get into the little dirty details but you may want to shop around. I was told by another debt settlement place to make sure they only charge fees after the debt has been settled. I agree with this since it will make them work harder to settle the debt in the first place.


lrhall41

Submitted by Cow & Chicken on Sun, 12/10/2006 - 17:13

( Posts: 3571 | Credits: )


My fees add up to $6,500 and not much goes into the "special account" for about 15 mo.. I wonder how i keep from getting sued since their contract says that they won't contact the creditor until they have enough in the account to settle.


lrhall41

Submitted by on Tue, 09/18/2007 - 15:56

( Posts: | Credits: )


I just signed up today - they WILL contact the creditor, though will not settle until they have funds to do so, and some of the creditors (especially with the crunch they're all in now) will take monthly payments from the special account in order to get some cash flow coming in.


lrhall41

Submitted by on Fri, 10/24/2008 - 14:31

( Posts: | Credits: )


I am with Superior, and have had good luck with them so far. I think they tell you six months, because the longer an account goes unpaid, the better settlement offer you may get. However, I was only in the program for about three months when I got 30% offers on both of my Bank of America accounts, so it really depends on each particular creditor. Some are willing to settle sooner than others. As far as the phonecalls, there's nothing you can do about them. Caller ID is a must-have if you don't want to talk to them, but the phone rings constantly, particularly for the first few months. The repair service at the end of the program is a nice "extra", but I am going to be working on that on my own, as each account is settled, instead of waiting until the end. Everyone has a different situation. It is a good idea to get as much information as you can from as many companies as you can, to find someone that meets your needs. That said, you should probably look into settling on your own, too.


lrhall41

Submitted by SusieQ on Fri, 10/24/2008 - 19:15

( Posts: 302 | Credits: )


I am about to sign on with Superior. They have a good BBB report. Apparently the longer they wait to settle the better the settlement. Their average is 38%. I am looking at a huge savings every month in outgoing payments, and if I stick to it I will be done in less than three years.
For me I need some help because I am not clearing enough after staying current on mortgage and cc's to feed my child.
I feel bad and I am so anxious to enter this program. I am worried about the calls and threats. On the other hand I need help. My mortgage is upside down 60 k and I just took a pay cut. Is anyone in a program right now? What's it like going from being current to this type of program? Can somebody tell me about what I can expect... I feel very conflicted. On the one hand I feel like help is on the way, and on the other I feel like I am jumping off a cliff.


lrhall41

Submitted by on Mon, 05/04/2009 - 20:55

( Posts: | Credits: )


I have now been in the program for a year and four months. Six of my nine accounts have been settled. The phonecalls that seem never-ending only last for the first few months, then they are only sporadic. I have not had a call from a creditor in probably three or four months. I have been sued a few times though, and what I did was contact the attorneys representing the creditor, listed on the summons, and told them I wanted to settle before the court date, and had Superior negotiate the deals. Lawsuits are a danger in ANY settlement program, even if you do it yourself, because some creditors do just not want to wait. Luckily it turned out okay in the end. Superior is currently negotiating settlements on my remaining accounts. I fax them every correspondence I receive from the collectors in the mail, so they know exactly where I stand. I have high hopes that I will be done with the program in less than the estimated three years. My credit score took a hit, but I am hoping it bounces back fairly quickly as the nine accounts in the program were all business-related to a business that closed; I have remained current on several other accounts and my mortgage. The light at the end of the tunnel is getting bigger.


lrhall41

Submitted by SusieQ on Mon, 05/04/2009 - 21:21

( Posts: 302 | Credits: )


Thanks to all of you for sharing. So with the law suits you mentioned, did Superior negotiate with payments or lump sum? I owe 42 K. I have numerous small balances and about five balances between 1800 and 9K. I have no money to throw at this other than what accumulates in the payment account. I am worried that if I get sued I/Superior won't be able to settle. They claim it is a small percentage of people who get sued. What type of creditors sued you? Credit Card companies? Again, thanks for your help.


lrhall41

Submitted by connie4444 on Sun, 05/17/2009 - 10:19

( Posts: 17 | Credits: )


I was sued by Advanta. Their alternative settlement offer had to be made in two payments only. I dealt with that myself, as they refused to have any contact with ANY settlement company. I was lucky enough to be able to borrow the money for it from a family member, as my Superior funds at that time were tied up in paying off another settlement. Superior then removed the Advanta account, and the fees for it, from the program and re-figured my monthly payment. The other two lawsuits came from Target and Walmart credit cards, thank heaven two of my smallest accounts. Superior negotiated the final deals, which I think were paid in three payments each. Update: Superior just settled a fairly large Citibank account for me, that was around $16,000, at about 30%; they agreed to accept it in 8 payments. It just depends on the particular creditor; I had several accounts that were fairly large and they were all able to be worked out, a couple of them shortly into the program. So, after a year and 4 months, and having started out with 90,000 in debt, I have settled seven of my nine accounts. It has been moving along pretty well.


lrhall41

Submitted by SusieQ on Sun, 05/17/2009 - 13:20

( Posts: 302 | Credits: )


I have been in a settlement program now for 4 months. It has been a scary experience. Some of the comments I have read regarding others experiences have helped. I feel lost and don't sleep well at night but could not keep up with the increased interest and exploding minimum amounts.


lrhall41

Submitted by on Mon, 05/18/2009 - 10:28

( Posts: | Credits: )


Yes, the first few months are the worst, because you are constantly badgered by collectors and other assorted rude people on behalf of the credit card companies. I had never been late on any of my bills, so it was tough going to see just what that is like. After awhile though, when the phonecalls die down, and you start to get some settlements, it starts to look a whole lot better.


lrhall41

Submitted by SusieQ on Mon, 05/18/2009 - 11:15

( Posts: 302 | Credits: )


I have to say I have been happy with them. I had read a lot of horror stories about companies that are nothing but swindlers or scams (and new ones are popping up all the time), so I had done a lot of research in the beginning also. As with any settlement program, whether you do it on your own or with a company, just remember that you can be sued at any time by any of your creditors, on their whim. Unless you are insolvent, you will have to pay income tax on the amount of any forgiven debt over $600. Just keep asking questions, and doing your research. Settlements are not easy, they are very nerve-wracking. But they work, if you prepare yourself for the possible bad as well as the good and make sure you choose someone reputable to help you if you go that route.


lrhall41

Submitted by SusieQ on Mon, 05/18/2009 - 20:53

( Posts: 302 | Credits: )