Settlements vary by State?

Never heard of this in my life. Settlement amounts are set by the credit card companies, not the state. When I was collecting, the credit card companies set blanket settlement amounts...it didnt matter if you lived in Alaska or Florida.

It doesn't sound right to me, either - the only way a particular state can come into play is if they threaten a lawsuit. If they have a legal department in your state, or a contract with a law firm in your state (including collection agencies that masquerade as law firms), you are more likely to be sued.

They probably are referring to which states are more debtor friendly. For instance if you live in Florida and are head of household your wages can't be garnished. They are also not able to attach a lien to your homestead property. So they tend to settle for less b/c they would not be able to recoup their money in a lawsuit. However, if you live in a state that is easy for the creditor to sue and collect then you probably will see much larger settlement offers.

The first post in this thread and the last one directly above mine by "guest" are in my opinion pure poppycock.

Is it better to do it yourself or use a company?

It all depends on your situation. I am with a company, but only because I had $90,000 in debt spread over nine cards after I had to close a business. Debt settlements take time and effort and I did not want to deal with it all, on top of everything else I have going on, and wanted professionals to handle it. The 15% fee seemed small compared to having to give this my full attention when I didn't think I could juggle it all adequately. On the other hand, if my debt was lower, or if I had perhaps five accounts or less, I probably would've done it on my own. I recommend trying it on your own if you think you can do it.

this all depends on you which is best. Your self is cheaper and there are alot of opinions in this forum which are best. I personally used a company. These are the pros and cons:

through a company:
a good company will charge you a % of the debt settled which makes them work harder for you to get the best settlement

you dont have to deal with the creditors at all after joining(this was my big perk, I worked 60 plus hours a week and couldnt handle it myself I worked during normal business hours, and was tired and stressed enough) you may get a few random ones that will call to rattle your cage but if handled properly it will stop

In my opinion you wouldnt try to fix your electric on your own after reading a book would you? or would you call a electrician? at the time i knew nothing about this sort of stuff so i just would rather pay someone to do it for me that new what they were doing

you will be held accountable for saving a certain amount every month. My money was withdrawn like a payment every month and put into a different account were i could not touch it or spend it

the downside to using a company is it cost more. and there are many scammy places out there taking advantage of people these days so be very cautious as to who you use the wrong company and itwill make your situation worse.

on your own..
you can do this on your own if you wish. It is cheaper and will save you more money to save twoards your settlements

you will need to deal with the creditors on your own and they can sometimes be very nasty. If you can handle this, and be able to be disaplined enough to save your money without touching it, it would be wiser to do it on your own.

but if you decided to do it on your own be sure to read around and know how it works and what they can and cant do because they will say and do anything thinking you dont know any better.

Both these choices are good it all depends on what you are most comfortable with, and what you feel is right for you. take a deep look at yourself and find out if this is something you can handle on your own or if you are going to need some help.

good luck!