Recommend me a good debt settlement company

I am not endorsing them but I know New Beginnings debt settlement llc has a 55 % settlement money back guarantee. I also looked them up on the BBB and they have a good rating. However I would suggest you shop around and compare. Just be sure you look them up with the Better Business Bureau.

I have actually heard good things about them as well. I would suggest you shop around and make your own decision but I have never heard any negative things about them.

consensus :shock: huh, its difficult, if not impossible, to arrive at a consensus regarding any particular company. I'm afraid that you'll get diverse opinion from the community. However, you may keep the following in mind while shopping around for the management company..

• Are they co-operative with you? ie are they explaining you all the pros and cons of joining this program or just trying to drag you into it?
  
  
• Are they telling you the ins-and-outs of their fee structure? are you comfortable paying that amount?
  
  
• Are they offering any quick-fix for your credit? or claiming to eliminate your debts overnight? if so then beware!! debt management programs may take four to five years, depending upon your performance and amount of debt, to repay all your unpaid debts.
  
  
• Have you being directed to a new CSR, everytime you call-up and have to explain your situation to them over and over?
  
  
• Are you required to pay a lump-sum amount as fees when you're signing-up with them? if so then it would be wise to look for another management company.

I have been struggling since last October to get rid of my unsecured debt. Most creditors will not settle with you until you are 120 days delinquent - then if you have a lump sum they will usually settle at about 40-50% or sometimes even better. I have settled so far with BOA at 38%, Chase 45% and Citi at 38% - if you are having a true hardship they will work with you. I had to borrow and save money to make it happen and now I have just two creditors left. I have settled $106,000 in debt so far with $37,000 to go and I did it myself. I know not everyone is comfortable settling their own debt and need assistance.

Nice work tweety... :wink:

excellent advice tweetyturner .

I am currently using Credit Consultants. They are easy to work with, but be aware, if your creditors do not want to work with them, it is tough. I have been with them for one year. Have settled on one card and working on another one. However, MBNA did not want to work with Credit Consultants. I received a summons and have had to set up a payment arrangement with them. However, Credit Consultants reduced the payment amounts I was making to them for the payment plan amount I set up with on the summons. So I kinda did their work for them.....but all in all, they have helped me out every time I have called. I cannot believe I got myself in this mess. But I am doing my best to try and pay back all I owe.

MBNA is now Bank of America and they are a pain in the butt. Them and Discover and the worst. They usually will send it to a lawyer to collect when you let them know you are in a settlement program. Thats why its so important only people are in a hardship are enrolling in settlement. The settlement company's we work with require a budget to show they are broke so that even if an account goes legal we can negotiate with the attorney and show them why suing would be a waste of time. Most of the time the lawyer representing Bank of America will work with us and settle because they see it is not cost effective to sue.

Yeah I've been working with National Financial Relief Center in St Petersburg, Fl they are great and have settled almost all my accounts they are professional courtious and a pleasure to work with. You can call them at 1-888-563-6372.

Please ignore anyone pitching a company who is only a guest. Its obvious this is one of their employees. National Financial Relief Center just opened in 2008. I doubt they have settled almosts all of your accounts already being that they haven't even been in business for 6 months.I can`t find them on the BBB , but then again they probably are not aware they even exist yet.

Yeah i agree with mobile...ignore the posts of guests suggesting you a specific company....it`s fishy...

The suggestion of shopping around confuses me. It's not the fees that I care about (I'll read the contracts thoroughly), but how well the companies negotiate. How is it possible to find out how good a company is unless it's recommended? It's not like I can try a bunch of companies.

I agree, shopping around isn't always very easy. It requires you knowledge, time etc. If you're confident with their contract paper, go ahead. Normally, the fees come into play when your financial position is weak and you can't make big payments towards the settlement process. The company will charge you for setting and managing an account for you.

You can check up with the BBB site to know about the company's performance. Normally, a company with higher number of satisfied clientele ranks high in the BBB. It may help you in making decision.

Its always better to do your bit of research rather than depending on one's recommendation blindly.

I recommend Sifxpert. You can find differing opinions on this forum about him. We started with him back in September or October and have settled 4 of nine cards. He, unlike a lot of companies, is paid on what he saves you and doesn't start taking fees from day one. He understands the money you start saving has to be used for settlement. We will be done soon and am looking forward to having this mess out of my hair.

I have been posting about Sifxpert for a week now because we wanted to use him but he is virtually impossible to get a hold of. I think he is on some power trip or something...like he enjoys making people beg for his services. Who needs that? How long did it take him to return your e-mail, phone call, etc? We wanted to use him but I refuse to chase after someone whose services I am paying for. Something is wrong with that picture.

Also, sifxpert does charge a $500 retainer fee so he is not exactly free of up front fees either.

He does charge a retainer; most professionals do. But it was not a hidden charge. I knew before I signed on with him. It was not a hidden fee.

I know it wasn't hidden but it is not that cheap either. His fees may not be hidden but he sure is. I have waited almost two weeks now for a response from him. He was all gung ho about what he could do for us and then he vanished. It is a bit too weird not to be able to contact someone you are trying to do business with. If he is so great and that busy, why doesn't he hire more people so potential clients don't have to wait forever to get a response from him?

What do you think about Debtfree America, I used them and have been free for 6 months now, but my sister-in-law wants to use The Roll Law Group, but what everybody says about them isn't good. So if you are age 60 and over $78,000 in debt, who do you use, so that you can retire someday?

Before you commit to any of them try Rip-offreport.com They may have somethings to say, good or bad. Also, question, I guess everyone is agreeing on settling debts at less then they owe to get rid of the payment and clear the slate. But correct me if I'm wrong, it still has the same, if not worse, result on your credit. I settled a few about 3 years ago when I went through a consolidation program and credit counseling, thinking that was my only way out. Then I realized they report it as such on your credit report and that is nasty on your score. So, I have slowly paid the others off for what I owed so it wouldn't reflect a settlement agreement. Am I the only one that thinks this or am I looking at this wrong. I really would like to know. I don'thave anymore to settle but it would be nice to know for knowledge purposes.