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Debt Reduction Services, Inc - a good company?

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I have about $25,000 in debt on 3 cards. I am considering using a company called Debt Reduction Services, Inc. They advertise that they are nonprofit and that they are A-listed with the BBB. I would have to pay a $40 fee, $578 a month for 5 years. It will be very hard for me to pay that amount but I have to figure out a way to make some progress as all I can do is pay minimum fees right now. I would really appreciate any info/advice. Thanks (I'm a single mom, not high income)

Why pay someone to do something you could do for yourself?

Which cards do you have? What's the current interest rate on each? What's the minimum payment on each? How much are you paying currently each month? What's your monthly income? What other bills do you pay monthly and how much are they (car, insurance, rent/mortgage, groceries, utilities, cell phone, etc.)?

Sub: #1 posted on Tue, 05/01/2012 - 07:11

OhioGal1 OhioGal1
Moderators Cum Industry Expert
(Posts: 5253 | Credits: )

Your best bet is to try and settle the accounts yourself. Lesser chances of being scammed or sued. Most consolidation companies mess things up. If you can list the information that the other poster has asked for, we might be able to point you the right way.

Sub: #2 posted on Tue, 05/01/2012 - 22:28

jonheller83 jonheller83

(Posts: 65 | Credits: )

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