Debt settlement for cheap?

Date: Tue, 07/18/2006 - 15:08

Submitted by anonymous
on Tue, 07/18/2006 - 15:08

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Total Replies: 1

I have some debt, but I'm not sure what I should do. I spoke to a settlement company called forget-a-debt and they told me they would do a settlement for $500 for me on a $15,000 debt (Bank of America). I am already behind, so I think settlement is best for me given my options and decreased income. I called the BBB and they had good things to say about them. They apparently offer debt consolidation as well, but the payment is too high for me. On the other hand, another settlement company was going to charge me 15% or something of my total debt. It seems that these guys won't charge as much for the same thing. What do ya'll think?

I am assuming that you are aware of how a settlement program wor

I am assuming that you are aware of how a settlement program works. You need to compare your options with various settlement companies and finally compare the best quote. Settlement programs take some time till the proposals are finally accepted by your credit companies. You need to know how much you can afford in your monthly payments before getting started. If you can slightly increase towards your monthly payments, try a consolidation program as well. This gives a better view in the credit report and the lenders also appreciate if the accounts are shown as paid. When the accounts are paid off in a settlement program, most creditors update the bureaus with the status ???settled' in your file. Though, the status can be negotiated with some creditors if you show a good payment history. A debt settlement program has been nicely explained in the page below. Read it as it can solve most of your queries besides talking with the consultant.

http://www.debtconsolidationcare.com/debt-settlement.html

lrhall41

Submitted by anthony on Tue, 07/18/2006 - 15:33

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