The reason people have an issue with debt settlement.
Date: Fri, 07/24/2009 - 09:44
One reason people have an issue with debt settlement is that they really do not understand how it works. The firm you are dealing with isn’t loaning you money to pay your bills, they aren’t going to pay your bills for you, they will use your money that you save up to pay your bills after they have negotiated your debt typically down to about 40cents on dollar.
One reason why people get confused is they enter a program and wonder why they aren’t done sooner. The length of the program is based on the how much the client can put into then program every month. If you are putting in enough to settle debt in 48 months, how can you expect to be done in 24?
That misunderstanding is something that causes a lot of concerns, but it really is just common sense. Yours bills cant be paid without the money being there. Which ever firms you choose would be happy to get you get free in a very short period of time if you provided them the funds to do so. It isn’t a sprint, it is a process that works very well, and will assist in eliminating debt, you just need to work within the system, and have realistic goals.
GeneS
Or...don't make the mistake I did and sign up with one to begin
Or...don't make the mistake I did and sign up with one to begin with. You really can do the same thing and not pay all that money in fees. As stated by the OP until the money is there nothing gets paid. So you can get sued, called, get letters, etc whether you are in a program or not.
In fact I received letters from some CA's saying they do not work with debt settlement companies at all. I was sued twice and the second time I had to deal with the law firm myself because the OC would not let them deal with the debt settlement firm.
I'm just glad I canceled when I did and cut my loses. My advise is for anyone already here to take time and read as many posts as you can. Learn about writing debt validation letters, learn about writing settlement letters, etc. I wish I would have found this site before I joined a settlement program and not a few months after.
Take the money that would be going to settlement program fees and use that to settle some accounts. I could have settled at least one if not both of my two remaining accounts with the money I paid in fees.
I think the main reasons are fee structures, and lack of perform
I think the main reasons are fee structures, and lack of performance. % based fees are unfair and unreasonable for the work performed. The undeniable amount of fraud in this industry is the nail in the coffin. Do it yourself...you can.
Exactly, we were fortune enough to find this site a day before w
Exactly, we were fortune enough to find this site a day before we were going to sign up with curadebt - don't even get me started on this company.