WSJ news piece on debt relief companies

maybe you should quote the article correctly.

1)american express also stated that debt settlement can't do any different for there clients that they can do.
2)the part about the fees was somewhat correct,but a legit company will go to work once enough monies have been saved.

what the article failed to point out was.

1)a credit card must be at least 120 days deliquent before any talk of a settlement will commence.
2)most people that go for settlement are at least 20,000.00 to
50,000.00 in debt and want to avoid bankruptcy.
3)cards like discover and amex will file suit.while others will work with a debt settlement company.

nice little effort there,but there is good and bad in everything including debt settlement.

I am in what I consider to be a successful debt settlement program, and they did start to collect their fees right away, but it was only a portion of what I paid in each month - the rest went to settling the accounts. So, I had some accounts settled fairly quickly, despite the fee. Also, I had an account with Advanta, and they don't work with settlement companies either. But they offered my a 10% settlement, which I did on my own. My settlement company then removed that debt and their correct portion of fees for that debt out of the program, so my monthly cost will be less. A good company will work with you and do the right thing. There are some bad ones out there, but some good ones as well. Just do your homework and investigate the heck out of them before you begin!

amen SUZYQ amen.

We joined a settlement co. last December. The monthly amount is set up so that your fees are taken out for the first 10 month. But also that the remainder you are saving for those first 10 months should be enough, or close to enough to settle the first account. We are there right now. We just made an agreement with Chase Bank for a settlement amount. We got this through work with the settlement co. We tried doing this on our own and got nowhere. One particular co. HSBC had one person talking to us about making a deal and at the same time we had a different person from HSBC leaving us nasty messages saying we were not trying to work with them. Crazy, we gave up on that one too and added them onto our settlement account.

I realise there are lots of bad companies out there, but we are using debt settlement usa and for us, they are working out just fine.

testify mack,testify.