Advantages of hiring a debt settlement company?
Date: Mon, 03/01/2010 - 11:00
I’m assuming if I hire a company, I won’t have to do any work and just agree to terms. But in the end, I would most likely pay more than I would if I tried to settle myself because the company would charge their fees into the equation.
Or would a settlement company be able to get better rates than I would myself; possibly off-setting any fees they charge?
Any insight would be great. I keep reading so many threads about scammer companies that it really worries me. I would hate to be in a worse off situation than I started with when trying to get this resolved. Thanks
Also, if I try to do it myself and don't like the outcome, would
Also, if I try to do it myself and don't like the outcome, would it be too late to hire a settlement company to try and re-negotiate the settlement rates?
Debt settlement, is a procedure which includes negotiation with
Debt settlement, is a procedure which includes negotiation with your creditors for reducing the total amount of the debt. It helps in lowering monthly payments and managing your finances in a much better way.
It is a good option for those who have accrued debt and cannot afford the minimum monthly payments and as a result fall behind.
Then, the person can search for a debt settlement company and the company will start negotiating on behalf of the debtor, for lowering the debt balance and for an affordable monthly plan. There are various benefits, but you will be the best one to judge it.
For detailed info you can check out the following links:
http://www.debtconsolidationcare.com/
http://www.debtconsolidationcare.com/debt-settlement.html
http://www.debtconsolidationcare.com/companies/
Thanks for info. I'm afraid to try this alone as I've never done
Thanks for info. I'm afraid to try this alone as I've never done anything like this, but on the otherhand, I'm also afraid of using a settlement company for fear of getting ripped off. I'm already in a lot of debt and that's the last thing I need.
I also have many accounts to settle, about 10, which is why I dont know if I can handle that volume. The total amount owed is about 50k. I have a couple family members that I may be able to borrow some money, but I would have to come up with the rest.
If I attempted this myself and couldnt handle it halfway through, would it be too late to hire a company to handle this for me? In the mean time, i would try to save up as much as I could.
I am currently going through the debt settlement process myself
I am currently going through the debt settlement process myself -on behalf of a friend. If you follow the advice here at this forum, refer back if you have more questions, and make sure you follow up on any and all offers you receive, you should be able to make settlements with your creditors on your own, and save yourself a lot of money in the process.
I agree with Shazzers. I started out on my own in 7/2009 with 9
I agree with Shazzers. I started out on my own in 7/2009 with 9 cards for a total of $56,000. As of today I settled $44,000 at $10,500.
I was scared and still am since 3 left to settle. But I would much rather be doing myself than paying fees to someone else.
This site gave me valuable information. I also bought "how to" book on line for $9 which helped a lot.
Thanks guys. Which book did you buy online? I may need to look i
Thanks guys. Which book did you buy online? I may need to look into it.
So to start this entire process is to start by doing nothing? Meaning, just let my cc's go into default?
To make matters worse, I have my own business with it's own cc accounts. Will I effect any of my business accounts by going into this debt settlement process for my pesonal accounts? For instance, I have both a personal and business account with BOA.
Thanks again!
Quote:Originally Posted by tyggerThanks guys. Which book did you
Quote:
Originally Posted by tygger Thanks guys. Which book did you buy online? I may need to look into it. So to start this entire process is to start by doing nothing? Meaning, just let my cc's go into default? To make matters worse, I have my own business with it's own cc accounts. Will I effect any of my business accounts by going into this debt settlement process for my pesonal accounts? For instance, I have both a personal and business account with BOA. Thanks again! |
Send me PM for book info.. I have my own business and yes settlement will effect both business and personal cards. I got 20% on $20,000 business with Bank Of America and 25% on personal. For some reason the business card was so easy, they actually offerd that to me.
I am a sole prop so cards were in my name. If you are corp may be different.
If you are serious about this than yes stop paying and start saving for settlement.
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Are you overwhelmed with HIGH INTEREST RATES that make it diffic
Are you overwhelmed with HIGH INTEREST RATES that make it difficult to reduce your balances with minimum payments? If you are in a situation where you feel that you cannot and will not be able to pay back your debt, don???t worry, there are programs out there that can cut your debts in half and reduce your monthly payments by up to 50%...........You should never be ashamed to seek help, no matter your reason for being in debt and no matter how much debt it is. Millions of Americans are struggling with their debts right now; that is why Congress has passed new legislation to keep creditors from taking advantage of consumers. Contrary to what your creditors will tell you, there are options out there for you. Don???t consider bankruptcy until you???ve looked at all of your options. There are companies set up to explain these options to you, FOR FREE. One of them is Consumer Debt Advisors (www.cdadebtsolutions.org), they???ll let you know what option is best for you and offer a free consultation to see if you qualify. Don???t feel trapped or let the creditors control you, call Consumer Debt Advisors at 877-548-5403 or try them online at www.cdadebtsolutions.org. Their website has a lot of information about what alternatives there are to bankruptcy or paying the 25% interest the creditors are charging you