Looking For Some Financial Advice Pertinent to My Situatuion
Date: Mon, 04/06/2009 - 23:45
pension, plus social security disability. I also entered a debt settlement program in Dec of 2008 due to unsecured debt of over $20,000,
limited/fixed income and forthcoming substantial reduction in my retirement pension of about 1/4th of my income. Since the reduction will occur beginning May 1st, I am looking at all means to offset this reduction as much as I can, by eliminating expenses as much as I can plus whatever supplementation I can find. Being disabled does not help either, but I try and take advantage of all the good times.
Since entering the debt settlement program, things have not really became that much better and some creditors have threatened with lawsuits. Although, I was aware that there was a retainer fee that I've been paying into the debt settlement program, I didn't realize that this retainer fee, would be present for the term that, I'm enrolled into the program and this all affects, what can accumulate to settle any debts once there's enough funds in the escrow account.
I probably should have looked into other companies etc., but I am kind of locked in at this time and need to continue working with these people the best I can. Due to my impending pay reduction that I mentioned above, I definitely will have to reduce what I can put into this settlement program on a monthly basis. I am not sure at this stage, by how much but hope to have some figures soon.
What further complicates matters, is that due to some unplanned expenses which have occured over the last month or so, I am having to skip this months payment into the program. So it just gets more critical all the time.
Anyway, without expounding anymore on this subject, what I am looking for is a company or source that can help me in complementing and working with the debt settlement program, I'm already enrolled in. At this time, I am looking for someone, who can assess where, I'm at already and what options, I have to try and keep my head above water, in preparation for the substantial pay cut that, i'll be faced with.
Thank you for your time to read this, as I know there's others that have serious problems too.
I think that you should register for free debt counseling by vis
I think that you should register for free debt counseling by visiting the link https://www.debtconsolidationcare.com/free-consultation and you can get help from a professional debt consultant who will review your situation and help you out with your debt problem.
did you tell the settlement company your situation? Maybe they
did you tell the settlement company your situation? Maybe they can reduce your payment amount, I know this extends the amount of time that your program will be over, but you are not going to be able to make the payment. Im glad to hear of your dedication to the company, because hopefully you found a good one, and settlement takes time. My suggestion is as long as you know its a good company to hang in there because quitting may hurt your progress. But in the end, if they will not work with you you will need to reach out for another option that will fit your needs
i am so upset after reading your thread. It is shameful in this
i am so upset after reading your thread. It is shameful in this society, that an individual who is retired can't amke it anymore. Are you current on payments on your accounts? Settlement might be your best bet however, collection agency may work out a one lump payment offer or a multiple month payment plan. Make sure it is in writing though..Personally if it were me, I would do it on my own..20,000 can be settled for approximately 30ish% of the original debt. I wish you the most sincere best luck..
