Share post
Debt Consolidation Forums Budgeting and Personal Finance forums

Professional debt settlement or settle on your own?

member profile picture
Posts: 6
Credits: 0
[Donate]

For consumers who are wary of the debt settlement industries, but not
debt settlement itself, a diy settlement is an option. Question is,
which do you think would give the consumer a better result (in terms
of settlement percentage)?

Share your thoughts!




Good question June. :) Hope the others would participate in it too.

I would vote for DIY, simply because the mere size of saving for the customer would be more as he/she wouldn't have to pay fees and charges to the settlement company.

The settlement company would also charge a percentage of the saving in each account as success fees. If we incorporate all these expenses in the settlement process, the customer would be better off by dealing with his creditors himself.

Sub: #1 posted on Thu, 06/03/2010 - 03:33

SC SC
Moderators
(Posts: 3937 | Credits: )

Great question [URL="http://www.debtconsolidationcare.com/forums/member.php?u= 224643"]june may[/URL],

DIY gets my vote because;

1. You are taking responsiblities for your own actions.
(I see the person responsible for my debt in the mirror each morning)

2. You must take control of the situation. You know how you got into debt and you'll know what it takes to get out of debt.

3. You lose control of you money (i.e. third party), you'll lose you money.

4. It will make you a better person in the future. Subjectively speaking; less material things. I don't car if my cars are 13 and 14 years old. They receive great maintenance and should run another 10 years.....I hope. I don't need the latest and greatest stuff.

Just my opinions.:D:D:D

Respectfully yours,
King "Kash" Jabba Labba

Sub: #2 posted on Sat, 06/19/2010 - 11:58

King Jabba Labba King Jabba Labba
Industry Expert
(Posts: 507 | Credits: )

Attachment
More information
  • Files must be less than 500 MB.
  • Allowed file types: txt pdf jpg jpeg png.


Page loaded in 0.860 seconds.