Advice for credit card settlement
Date: Wed, 09/01/2010 - 06:15
I am in New York and have been paying for 2 years on a debt consolidation with TCA. They've been great, but at 9% interest rate on the debt, we're still drowning.
I was introduced to a law firm that says they feel confident they can settle the credit card debts for about .30 on the dollar. Their payment would be about 1/2 of that total payment, and taken out of that payment. (i.e., the CC co. would get .15 and the attny .15
Is it better to use them, or try to settle it ourselves with the CC companies? It seems like it's the same money either way-whether we try to settle with the CC co. ourselves or if we use the attorney. Also, the attorney says they negotiate with the CC companies that when the payment is made, that the CC co. show it as paid in full-not paid as agreed, which makes a difference on the credit score.
The attorney is Citak and Citak out of West Islip, long Island. Any input???
I was introduced to a law firm that says they feel confident they can settle the credit card debts for about .30 on the dollar. Their payment would be about 1/2 of that total payment, and taken out of that payment. (i.e., the CC co. would get .15 and the attny .15
Is it better to use them, or try to settle it ourselves with the CC companies? It seems like it's the same money either way-whether we try to settle with the CC co. ourselves or if we use the attorney. Also, the attorney says they negotiate with the CC companies that when the payment is made, that the CC co. show it as paid in full-not paid as agreed, which makes a difference on the credit score.
The attorney is Citak and Citak out of West Islip, long Island. Any input???
Settle it yourself!! When you use an attorney or settlement ser
Settle it yourself!! When you use an attorney or settlement service, you basically are telling your creditors, "I have more money than you know about".
Credit card companies if you read this forum, are not settling for 15 cents on the dollar. Plus there is no way you are going to get your credit reports reporting what they say...reporting paid in full when you settle aint gonna happen.
Read this forum....do your research.
Thank you! I will read more. I just found this site so I'll rea
Thank you! I will read more. I just found this site so I'll read more.
