Boston Debt Solutions

When you register with a debt settlement company, you need to make monthly payments and they deposit your money in a separate account known as trust account. Now, once they have enough funds in your account, they start negotiating with your creditors. Can you tell me how much is your total debt?

Typically there's a split in the monthly payment - a portion will go towards the settlement company, and the remaining towards your family member's settlement funds; however this split should only last for a certain period of time (10-20 months typically) before the entire monthly payment goes towards the settlement funds. It's these settlement funds that will be used to settle her first unsecured debt; which after 7 months she still may not have enough to settle. The question is are they doing their job - are they attempting to halt calls, contacted her creditors, send out Power of Attorney's, etc, etc.

The problem we're having with this company is that they cannot account for where the payment is going. We have called them and they keep giving us the run around and tell us that they'll send a statement and they never do.

My problem is that we have always had good credit but with the economy now, we were getting over our head so turned to them for help and I wanted to pay the accounts off like a Personal Loan but no, they tell you not to pay your bills and then pay them an amount and they pay so much on your loan ALWAYS late so you keep getting statements showing your payment is late so how is this helping us? It is causing other credit cards to limit our balance due to discrepancies they are showing. Why can't the hard working people get any help?

the account should be set up in your family members name and they should always have access and know exactly how much is going to pay off creditors and how much is going to the settlement firm. it will usually take 7 months for the accounts to become delinquent enough to settle for 50% or less.

We have with Boston for over 2 years and $24,000 has gone some where other then paying off our debt, we need help.

Debt Settlement do work if you are with the right company. For example, you should know where your money is going, receive a bank statement, and is not co-mingled with other funds. Depending on the program, you should see a settlement within 6-12months