a little stuck
Date: Mon, 01/21/2008 - 12:53
I'm stressing out trying to make a decision, strongly leaning towards DS but am wondering a few things
What is a typical contract like with DS companies?
What if some (new) setback happens and I default to the DS company?
What are typical fees asked of DS companies?
What are people's experience with Superior debt relief? I'm guessing they are endorsed by this site given that I was referred to them through this site. I checked them with the BB and things looked okay.
I keep thinking I can still get by robbing Peter to pay Paul, or maybe budget better, also am counting on a pay increase in the Fall but I'm thinking it's too little too late and I'm going to be chained to this debt for too long if it don't act.......I don't know if I just need to learn more or if I'm just facing the fear of taking the plunge.....
Thanks.
How much debt do you have and what kind. Did you sign up for the
How much debt do you have and what kind. Did you sign up for the free consultation when you became a member! debt consolidation is better than debt settlement in my opinion. It is a longer program but does little to hurt you overall credit score. Check out the ranking chart above.
"What if some (new) setback happens and I default to the DS comp
"What if some (new) setback happens and I default to the DS company?"
If most companies are like the one I work for, our philosophy is "We are the good guys". If you can't make a payment one month or more, we put your payments to us on hold until you can get back on your feet. Sometimes we even refund some money back to help with the setback (unofficial, don't tell anyone I said that :P ) It depends on the company, I'm sure.
"What are typical fees asked of DS companies?"
I think there are two fee structures. One based off of your total debt, 15% of total debt when starting program is pretty common. And the second is based off the amount of money saved when they settle an account, I think 20% or so.
As far as the "typical contract like with DS companies" question, could you elaborate?
Whatever you decide, please make sure that you research the comp
Whatever you decide, please make sure that you research the companies. Do a search here to see what others have said about them and check out the BBB report on the companies.
Another option would be to try and settle these debts yourself a
Another option would be to try and settle these debts yourself and save the fee's. If you can be disciplined enough to put the money away and not touch it until you have a settlement, you can save up quite a bit more this way and get your accounts settled. There are also letters and help in the DIY section and you can read about my continuing journey on settling my own debts at my blog listed below. I have settled two so far, one for 65% and one for 20%. Lots of info on this site and on other blogs, if you do decide you would like to use a company, make sure as the other posters said you research the company, understand all the fee's and what assistance they will or will not provide in case some creditors decide to sue.