The Today Show on Debt Settlement! Beware!

I saw the report this morning and it was very interesting. It said that they only made successful settlements for 20% of their clients. The company denied that but would only give the reporter the name of one successful client.

I think that this industry is on it's way to being legislated out of existence.

Without making a judgment on the industry or particular company, what I can say for sure is that you NEED MONEY TO SUCCESSFULLY SETTLE.

We can do this ourselves so there is no need to hire anyone. But, without the funds to pay the settlement it is futile. Including my heloc, my settlements are over $250k and my average is between 25% and 30%.

And yes the Debt Settlement companies can get you 50%...which includes a huge fee.

Greetings All,

I concur with dantheman's statement...."you NEED MONEY TO SUCCESSFULLY SETTLE."

You can negotiate a settlement but you best have the dinero to make it happen.

Miss a payment and you are screwed.

Ciao,
King "Kash" Jabba Labba

Well of course when it comes to paying anything the old adage prevails "Money talks and BS walks!" But that is no reason for any company to put all payments into pocket first while telling the client not to pay the creditors while "they take care of it." They don't and people get screwed for years to come! New Jersey and some other states got it right! All settlement companies in those states are Non Profit Organizations by law! They are people that want to help and if they can't they will tell you! Years ago I went to one and was advised that my debt was so high that Chapter 7 was my only recourse! They were right! That was 12 years ago before the laws changed! Consolidation is a much better option if you can find a good company to sponsor you!

I completely agree with a majority of the settlment companies will be shut down. There are several companies that are decieving their clients and offer no protection. I work with a couple of individuals who have worked for other companies in the industry and have seen those issues first hand.

The company that I am working for now actually offers xxxxxxxx in the event of a lawsuit and also will sxxxxxxxx if they are in violation of the Fair Debt Collections Practices Act (FDCPA).

Check them out yourself.

xxxxxxxxxxx[URL="http://primedebtservices.com"][/URL]
or check out their Radio Show Site that is aired on CBS Radio and on CNN Radio at the end of this month
Radio Show Site - xxxxxxxxxx

Sorry CML1 but I had to delete your links as a violation of the terms of service regarding solicitation! Please join as a member and those can be used in your signature link! Thanks for your participation!

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