Is a settlement better then bankruptcy ?

Date: Fri, 07/27/2007 - 20:36

Submitted by anonymous
on Fri, 07/27/2007 - 20:36

Posts: 202330 Credits: [Donate]

Total Replies: 1

Settlement companies charge 15% fee and you have to report the unsettled amount to the IRS. I have $60,000 in credit card debt, am 60 days past due and my creditor had a plan but it is double what i can afford. I don't know what to do and I
am worried. I have always had good credit untill now. All my other bills are current. Any advise ???? Thanks

Settlement is better but you must be careful. Only do bussiness

Settlement is better but you must be careful. Only do bussiness with TASC members. (tascsite.org ) because they they have to tell you the truth, I was in a similar bind with $75,000 in debt when my bussiness failed. I used Fidelity Reserves amd so far they have done a very good job. They were willing to rreduce my fees to 9 % and I they only charge those fees in small portions over 30 months so I could accumulate funds faster so they could start settling my accounts faster. Also the thing I thought was really cool is they gauranteed to save me at least 20 % or they don`t get paid. I don`t know how the heck they did it but they managad to settle a $10,383 Bank of America account for $4,000. I know Fidelity is not the only legit settlement company.I spoke with other Tasc memeber companies and the were all offering to help but Fidelity offered me the best deal. I hope this helps you decide. What ever company you choose just be sure they are memebers of TASC and you won`t get scammed.

lrhall41

Submitted by on Fri, 07/27/2007 - 21:20

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