Should i settle with the collection companies directly?

hi sp! there are two ways to settle your debts. you can directly negotiate with the collection agencies or you can hire a professional debt consolidation firm. for that you need to pay them for their services. if the loan amount is small then you may choose to do it yourself. but in case you have multiple debts totalling to a huge amount, then my advice to you would be to hire a professional debt consolidation form. these people, if they really know their job, can reduce to about 50% of what you currently owe, by deducting all the extras. there is a lot of pressure to handle while dealing with the collection agencies and the consolidating firms are well equiped to deal with it.
but you should be very careful before deciding on a particular debt consolidation firm. there are too many scams in this profession. do not be taken in by the advertisements. you may be making your monthly payments to them regularly, and yet you may find out later that the payments were naver made to your original creditors, and then you will have to pay up all over again. do a thorough research and then move ahead. good luck!

I agree with 'Laurel'. I guess it depends on much your debt is. If it is a 'small' debt, you may consider taking care of it yourself. From my experience, Debt Companies want a fee to help you " get out of debt." Think about this for a moment..whatever their fees are, you can put that money towards your debt. Hope this helps a bit.

Laurel is correct. Anyone can do their own debt settlement. There are professional companies out there for a reason though. Dealing with these creditors can be very stressful and cause more anxiety then it is worth. Reputable Settlement Companies will help end collection calls and creditor harrassment, they will cut your payments usually by 50% or you can choose to pay what you have been paying in one payment and pay off your debt even quicker. They also negotiate with the same creditors daily and have more leverage than the average consumer. So if you are in over your head, like most people are that hire debt settlement companies, you may save yourself from alot of stress and anxiety by letting the professionals work for you.

If you decide to hire a professional, be sure you look for a reputable, trustworthy company. You should know at all times where your money is going and who they have been negotiating with. Service is #1 when hiring a settlement company. If you do not have access to that kind of information throughout your program, find a company that offers it!

Good Luck to you and God Bless!