have questions need help

If your credit is already trashed debt settlement would usually improve your credit by showing the delinquent debts as settled. Also here is a link to a site that will will pretty much answer all your questions pertaining to debt settlement and being insolvent.

Thanks for the advice-- if negotiating settlements for myself- should I deal with ca or original institution

If its still with the original creditor try settling it with them. If the account goes to a 3rd party collection agency or already is just settle with them. Either way if fine so long as its settled.

You can absolutely settle with all of your creditors yourself. Don't pay any company to do it....it is a waste of money. Who will work harder to settle your accounts than you?????

Check out zip debt on the web. A lot of people here that have been successful with doing their own settlements have used that program. Keep in mind that if you can come up with 50% of the total amount that you currently owe on your credit cards within 12-18 months, you are an excellent candidate for debt settlement and your chances of being sued are not as high as someone who might need 3 or 4 years to come up with the funds.

MOST importantly read read read! Knowledge is power in the game of settlement and the more you know about your creditors and how they work the better off you will be. Good luck!

I need additional information to answer your questions and make recommendations.

How many months are you delinquent on your unsecured debt?
If you are still making payments, how much is going out each month?
Why are you unable to file for Chapter 7 bankruptcy?

Doug Johnson
The Truth About Debt Relief Radio Show

Three months past, we were on the road to chapter 7 with an attorney, found out after wards we cannot file 7, make too much money. Chapter 13 was next, was told (by attorney) our combined debt was too much for chapter 13 (over $350,000), met with another attorney- told us 13 was good to go, payment for 13 was $400 a month higher than our current debt payments. This was a bad dream and now a nightmare. HAve not made payments becasue we were told not to. We make about $7,400 per month. After payments we were left with about $2,500 for food gas and utilities and four teenagers. Our issue turned upside with the housing market. I had several properties, building homes and developing lots. The bank has foreclosed on all of it. If you cannot sell you cannot pay. I would like to settle with creditors myself, wife wants a company to do it. I simply read too many horror stories and I cannot afford a mistake since I cannot file chapter 7. We have good jobs, good income, I simply cannot afford to make payments on more debt from the foreclosures.

settling your self is best, i do agree. But alot of people dont understand that some people (like me) this was not a good option for. Yes you will save more if you do it on your own. Yes you will work hard to settle your debts. and yes you are in complete control of everything and know everything that is going on at any given time.

But in some circumstances and certain positions, some people need help and choose a company which is perfectly fine. I myself was willing to pay someone who i thought new better than i how to go about it, what the laws were, and know how to get the best offers for me.

At the time i worked alot and so did my husband, We were not home during normal business hours, I was pregnant and stressed to the max to begin with, and honesty just physically could not handle the stress of it all. It was a great relief to take that stack of bills and place it on someone elses desk and say i cant deal with this anymore.

But one must use caution in finding a company. There are many wolves out there and we are all the sheep and they have been eating well. If you do your research properly you will be able to spot them and find a good company that will work for you.

Sometimes its worth it to pay someone else to do it. Not only because they do it everyday, but for your own sanity too.

ok daver Sounds like your situation is alot like mine.I've been researching a lot and decided to settle on my own.My husband and I have a lot of cc debt and just started this month being behind.I had my first cc company call after only being 7 days late..which is very unusual..and offered me a settlement of 50% of my balance.We still have a lot of cc to go but I'm going to try it and see what happens.We too saw a bk lawyer and very scarry doesn't seem like we can go through that. If anything try to settle on your own if you think you can handle it otherwise research the companies carefully,go to bbb site etc. the only thing is that these companies have such high fees and then another % goes to them when you settle and I look at it as you could be settling a little quicker by using that extra money that you pay them to settle with.I've heard also that some companies just wait for the creditors to notify them with a settlement and then they take it and this is the same as if the creditors would call you and offer you the same thing but you did not have to pay anyone that extra money to do nothing but sit back and wait for the call or letter.Sunnymay told me once too to go to zipdebt and I did lots of good info..check it out thanks sunnymay

that is very strange, a settlement offer to you of 50% in only 7 days of being late?????