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Lawsuits and Debt settlement

Date: Tue, 08/07/2012 - 16:46

Submitted by anonymous
on Tue, 08/07/2012 - 16:46

Posts: 202330 Credits: [Donate]

Total Replies: 3


I live in Missouri and have signed with a debt settlement company. My question is how often do the charge companies file suit when they are approached with a settlement. Also how often do the companies garnish your wages when cusotmer is using debt settlement. I questioned the company and they said that it rarely happens but I would like a second opinion. One charge card company has already called my son and I am getting very nervous that I have made a huge mistake. If anyone has gone thru this I would apprieciate your advice. Thanks


Quote:

I live in Missouri and have signed with a debt settlement company. My question is how often do the charge companies file suit when they are approached with a settlement.


You know, you can do debt settlement yourself...you can save yourself a lot of money.
Are your debts already in default? Who do you owe?? Can you give us more information??

Quote:
Also how often do the companies garnish your wages when cusotmer is using debt settlement. I questioned the company and they said that it rarely happens but I would like a second opinion.


They can only garnish your wages after you have been sued. And the debt settlment companies generally avoid handling judgment accounts....so obviously they would not have accurate information. Also, you have to be aware that they can levy your bank account as well once a judgment is rendered.

Quote:

One charge card company has already called my son and I am getting very nervous that I have made a huge mistake. If anyone has gone thru this I would apprieciate your advice. Thanks


Again, give us names of creditors...how far behind are you and if they have been turned over to collections.


lrhall41

Submitted by SOAPLADY on Tue, 08/07/2012 - 16:58

( Posts: 17315 | Credits: )


None of the accounts have gone to collections. Most are 2 to 3 months behind. Still getting calls from Wells Fargo Discover and One Main

Springleaf Financial $635
Capital One $1645
Capital one $2594
HSBC $2730
Chase $3427
Citi $3599
Wells Fargo $4232
Discover $4809
One Main Fin $10,408


lrhall41

Submitted by anonymous on Thu, 08/09/2012 - 05:00

( Posts: 202330 | Credits: )


Your cap one and discover cards are the ones most likely to sue and being in a debt settlement company is not going to stop them. Do you have the income to make settlements on all these accounts? Personally I cant see wasting money on a debt settlement company when you can do it yourself. You can search this forum to see how much and when these creditors will settle. You bank your money and then call the creditors yourself.


lrhall41

Submitted by SOAPLADY on Thu, 08/09/2012 - 05:05

( Posts: 17315 | Credits: )