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100k debt and considering debt settlement

Date: Tue, 05/04/2010 - 20:34

Submitted by hannspree
on Tue, 05/04/2010 - 20:34

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Total Replies: 12


I'm an engineer that has been out of work for about 2.5 years now and my family has about 100k in credit card debt. There seem to be so many shady companies out there willing to settle my debt, yet I don't know which ones aren't going to rip me off and run away with my money. I live in Delaware, so from what I've read I could be sued if I stop payment and have my earnings garnished....yet I don't have any asides from unemployment. My goal right now is to land a job and get my debt settled. I plan on trying to pay off my credit cards within 1 year. The question is, who is a legitimate company?


You know, you have asked a difficult question.

Anyway, you can check out the ranking chart of the site, which is a compilation of debt settlement companies. These companies have been ranked based on their accreditation, business history and such, which can give you an idea about them.

The best way to find a legitimate settlement company is to ask friends and family, who have used the service before, to recommend you one.


lrhall41

Submitted by SC on Tue, 05/04/2010 - 22:24

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I would call DS Financial at 866-833-6398. They usually charge a small retainer and you pay the creditor directly once the settlement is negotiated. They charge a fraction of what most companies do and they settled my total debt for around 22k and I owed 102k and that was including there fee.


lrhall41

Submitted by on Wed, 05/05/2010 - 11:30

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I guess SC's suggestion was correct!! The ranking chart is a great source for you to know which company would be the best in your situation. The best solution would however, come from the family members and friends. Check with the BBB. Please do all your research on that company before giving them an affirmative. Good Luck!


lrhall41

Submitted by Stephen Roberts on Wed, 05/05/2010 - 12:10

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Recently, I settled my $130,000 of unsecured debt for $40,000. I used Consumer Recovery Network's DIY program. Total cost for the help was $1150. I am blogging about my experience. http://www.debtsettlementstory.com

Give the good people at CRN a call for a free consult. They are NOT pushy and very reasonably priced for the incredible service they offer.1-800-939-8357

Best of luck.

JG



Quote:

Originally Posted by hannspree
I'm an engineer that has been out of work for about 2.5 years now and my family has about 100k in credit card debt. There seem to be so many shady companies out there willing to settle my debt, yet I don't know which ones aren't going to rip me off and run away with my money. I live in Delaware, so from what I've read I could be sued if I stop payment and have my earnings garnished....yet I don't have any asides from unemployment. My goal right now is to land a job and get my debt settled. I plan on trying to pay off my credit cards within 1 year. The question is, who is a legitimate company?


lrhall41

Submitted by on Thu, 05/13/2010 - 11:32

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