Best way to handle, Debt
Date: Thu, 12/10/2009 - 16:49
I know not to pay anything until I get the settlement in writing
Quote:Originally Posted by AnonymousI owe money to BOA,Discover
Quote:
Originally Posted by Anonymous I owe money to BOA,Discover and Capital One. I can't keep up , medical issuses and loss of hours making it tough! I called Freedom Debt relief and they should me a plan, but almost 60% of the money the 1st 2 years goes to them which means I will be a year and half behind on payments, thats almost 5k I could use if I did it myself! Do they make such a difference or should I just try it out myself which seems to be how most people here do it! I know not to pay anything until I get the settlement in writing |
You may. Check out the 'do it yourself' corner for guidance. Also you can speak with several other settlement companies and compare their charges before deciding on one.
However, often it makes good sense to deal with the lenders directly than through settlement firms.
Bank of America is the easiest to negotiate with. I settled $14
Bank of America is the easiest to negotiate with. I settled $14,000+ for $4,600 over 4 months payments. I worked out payment plan with Discover for $77 a month at 7.99% interest. You can do this yourself and save the fee you would pay the settlement company. You would also keep getting the calls until the settlement company started paying them.
There's also no guarantee that they would get the best rate for you, or be in business in 2 years.
Do a search on each of the companies and see how others have handled their settlement negotiations. Then decide.
In my opiniion, I would rather settle with them ASAP than wait.
Thanks, I owe BOA $30k, and 5 others about 20k. I could put 1k
Thanks, I owe BOA $30k, and 5 others about 20k. I could put 1k amonth away and work from that.. I have 2 cards that about $1200 should I make min payments and then pay them off after I save for 2 months then work on the others?
I would try to work out a settlement myself if I were you. Keep
I would try to work out a settlement myself if I were you. Keep putting away money.
