good consolidation company or settlement company.

First of all, do not take a settlement program as it will further damage your credit ratings.

Read this page below to understand the basic difference between a consolidation and a settlement program

http://forums.debtcc.com/forums/comparison.html

It is important to know how the creditors will report your accounts to the bureaus. Your accounts will reflect true credit worthiness only if they are marked as 'paid' or 'paid as agreed'

This website has a list of good consolidation companies to work with. Register yourself and take a free counseling. You should take a consolidation program and get your accounts reported with the above statuses. This way only, you will be able to show some improvement in your credit standing and get the best deals from your lenders.

As you will have a free counseling here, you will to know about the fees that are very nominal. I have included it in my monthly payoff. It's actually worth paying especially after getting the debt reduced. The consultant negotiates with the creditors to wipe off the financial charges and other late payments fees from the total debt.

Can you suggest any good companies from this site?

I just filled in the nfo. for a free counseling call and wa suggested the law office of richard a brennan any idea why and who this is?

Leebee-do you have a large amount of debt? Because when I signed up for free counseling on this website I was also referred to a law office, it was for debt settlement....due to the amount of my debt.

yes @ 45,000-I'm not to comfortable using a law office. Any suggestions or do you know a anything about Richard Brennan?

Never heard of him...but you should be able to look him up on FindLaw.com if he is actually an attorney. Hope that helps.

thanks I'll try looking him up.

Are you doing the settlement or consolidation and with what company?

Settlement...what I decided to do was to go ahead and do settlements on all our large debts, and pay off all our other debts in full. This is the only way we will ever be out of debt. I know a lot of people don't agree with that, but there is no way we could ever afford to consolidate over $35,000 in debt and pay every month...everyone's situation is different though. Our credit is already as bad as it can get...so we hope to start all over, it will be a very slow process, but we will eventually do it I think.

Yes TMD, I can understand the grounds which forced you to choose settlement in spite of knowing the consequences. But remember, nothing stays for ever and so will this negative statement in your CR. Be regular with your payments as the credit scoring system is highly related with it. If you are continues with your payments even after filing bankruptcy, you bag the good financial deals from your lenders. Most of the people have adopted this option to retain their credit worthiness.