Has anyone worked with debt regret?

My wife and I have worked with Debt Regret over the past 2 1/2 years and it has worked quite well for us. When we started the program, we were over 80K in debt and today, we are almost debt free! I hope this helps answer your question. The most important thing is to keep a contact reminder of the goal and not let anything stop you from doing what you set out to do.

i saw good reviews for them

I lost my job about a year ago and was forced to take a new one with half the pay! With my income now limited, I looked to debt settlement for help. I choose Debt Regret and have not looked back since. I was 34K in debt and today I only owe 5K. I hope to be done with the program in 6 months and can't say enough about how professional and curtious they were in my time of need.

DEBT REGRET IS A SCAM COMPANY. I LOST MY TIME AND MONEY WITH DEBT REGRET. AND JERRY DUNCAN?! YOU ARE A LIAR, I THINK YOU WORK FOR DEBT REGRET

Totally agree with Joshua. They just took my money, didn't do nothing, they demanded more money that I originally owed to creditors!

D- Rating w/ BBB. BBB processed a total of 11 complaints about this company in the last 36 months, our standard reporting period. Of the total of 11 complaints closed in 36 months, 5 were closed in the last year.

Jerry Duncan, I think you are one of the associates of debt regret I talked to. "DEBT REGRET" took my hard earned $5500 as their service fee to settle my accounts and suggested me to pay much higher than what I owe to the credit card companies!!!!!!!!!!!!

"Debt Regret" is a scam company and all debt regret associates are bald face liars!!!!!

I don't know what's worse, employees boosting their own company pretending to be a guest, or people trying to trash-talk a company pretending to be a guest. Either way, easy to spot.

For anyone that arrived here looking for actual information about them:

Debt Regret is a TASC Accredited Company.

Before giving too much weight to a letter rating from the BBB, perhaps you should do a little more research on them as well.

Also, the two reasons given for the rating have nothing to do with their individual complaint history or consumer experience. (length of time in business and 'concerns for the industry in which they operate')

Disclaimer: I am not promoting or endorsing any product or service, nor am I suggesting that any product or service be frowned upon. I only deliver facts so that you can form your own opinion.

I'M A DEBT REGRET VICTIM!!!! DO NOT USE DEBT REGRET. THEY ARE ALL FILTHY LIARS! IF YOU PAY A LITTLE FEE YOU CAN BE BIB CERTIFIED. TASC IS THE HEAD OF SCAM COMPANIES!!!

I "was" using them, and I regret it. It will DESTROY your credit. You are better off using a credit counseling service. I will tell you how it works. They tell you they will reduce the amount you owe to your creditors, that is correct. They get settlement amounts from them. You start paying them about 350/month for there admin fee's Then on top of that part of the money for the settlements. (divided up into installments). Sounds good so far. "BUT" this is where you get screwed. They pay off one at a time. and they dont pay them until you have all the money in the account to pay them (they only pay one at a time off). So in the meantime, You WILL get phone calls from all your creditors and they WILL go into collections! You will get harasing phone calls for months from them, at all times of the day. ITs horrible! So in the meantime you are also destroying your credit. It gets better, when the accounts are paid off, it shows on your credit report as settled, different then paid in full. Stays on your credit for years. In the end I ended up talking to the creditors and settled with them myself for a lessor amount and stopped working with them. In these times the creditors understand what is going on and WILL work with you. If you plan on using them you might as well file for banckrupcy because the damage to your credit is similar. They may also tell you they have programs to repair your credit, Bullshit! If you search anywhere there are no programs that repair your credit. Those programs only work if there are things that are WRONG on your credit report. Look it up online, thats all those programs do. You are better of using a credit counseling program. They work with your creditors to reduce the interest rate and the interest you owe. They set up a monthly payment plan and pay your creditors on time so they dont go into collections. Yes CC (credit counseling) will go on your credit report as well, but it is no where near as bad as being in collections or being closed as "settled for less then owed". It doesnt stay on your credit report that long and doesnt destroy your credit or FICO score. I really regret not using a credit counseling service. I cant even try to apply for a loan or mortgage for years now because of them. I would say they are pretty much a last resort to banckrupcy.

Alan Barnes serves as head of the TASC Web Committee. He is the President and CEO of Debt Regret. Ummmm Debt Regret?

Debt regret has 11 complaints with the BBB and has a F rating.

Under Texas law, all debt management companies are required to annually register with the Office of Consumer Credit Commissioner if they provide these services within the State of Texas. The Office of Consumer Credit Commissioner can be contacted by phone at 800-538-1579 or online.

Debt Regret IS NOT registered or licensed to do business in Texas. Texas Division of Corporations does not have them on file. AND THIS GUY IS ON THE BOARD????????????

Lee Lee is 100% correct.

"guest" have you used settlement? if you did, you did not know the facts (or still do) about settlement before enrolling. The companies tell you the process. and the hit to your credit is short term not long term like bk. Everyone here will tell you settlement is better than bk.

consolidation help is best but if you cant swing it, then settlement is the next best option. I used settlement and it worked exactly as promised. Exactly as stated in the paperwork. Read the paperwork. this is important. you cant sign on with a company and then 6 months later call them scammers because they did what they said they would do in thier contract with you. know how your stuff will be handled and what to expect before signing the dotted line. it took me about a month of reading them papers over and over again before i made a decision. think before signing

What they don't tell you. So you owe $10,000 and when it is time to settle the debt grows to 14,000. The debt has to age for a settlement. You then get a 50% settlement which is $7000 on $14,000 for a debt that was only $10,000, plus the $1500 fee. That is 85% of the original debt. Ask for your money back or right the BBB

Love my things you are right and wrong about bk. Bk can hit the reset button, stop the calls and stress and you start new. The bad, it can be on your credit for up to 10 years. Settlement you avoid bk but you don't start repairing the damage until you settle. After you settle the account it will take 7 years to drop off. If it takes you 3 years to settle all your debts it will be a total of 10 years until it is off your credit, just like bk. Except with settlement you endure the stress of bill collecting calls and pay a portion of the debt and a fee which could easily exceed 60% of the debt. Also, if you need credit bk will show you no longer owe the money. With settlement you will still show the debt and it will be harder to get any credit with unpaid debts. Especially now with the tighter credit standards and score changes.

can you please give me some idea about the structure of your company so that i can access your credability

if a company acts like the bad BBB rating is a non issue because they are a tasc member run away. That company most likely has a board member on TASC. Look it up to verify. But learn why TASC was formed and it's real purpose. It's a marketing and lobbying tool that is financed by the settlement companies. Follow the money to find the truth!

To Guest
I think you have been mis informed or sold. How in the world can you think credit counselling is not going to ruin your credit. You have things backwards. CCCS will be reported on your credit report. YES. but when a lender looks at your credit report and sees this, they treat it the same as they would treat a CH 13 BK. I've worked in many different sector at banking and lending intitutes and this is how these companies acted. I cannot say how other companies will look at CCCS but I would imagine it would be very similar. I hope this helps.
Posted: Sat Mar 07, 2009 6:59 am Subject: dont use debt regret, You'll Regret it!!!

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I "was" using them, and I regret it. It will DESTROY your credit. You are better off using a credit counseling service. I will tell you how it works. They tell you they will reduce the amount you owe to your creditors, that is correct. They get settlement amounts from them. You start paying them about 350/month for there admin fee's Then on top of that part of the money for the settlements. (divided up into installments). Sounds good so far. "BUT" this is where you get screwed. They pay off one at a time. and they dont pay them until you have all the money in the account to pay them (they only pay one at a time off). So in the meantime, You WILL get phone calls from all your creditors and they WILL go into collections! You will get harasing phone calls for months from them, at all times of the day. ITs horrible! So in the meantime you are also destroying your credit. It gets better, when the accounts are paid off, it shows on your credit report as settled, different then paid in full. Stays on your credit for years. In the end I ended up talking to the creditors and settled with them myself for a lessor amount and stopped working with them. In these times the creditors understand what is going on and WILL work with you. If you plan on using them you might as well file for banckrupcy because the damage to your credit is similar. They may also tell you they have programs to repair your credit, Bullshit! If you search anywhere there are no programs that repair your credit. Those programs only work if there are things that are WRONG on your credit report. Look it up online, thats all those programs do. You are better of using a credit counseling program. They work with your creditors to reduce the interest rate and the interest you owe. They set up a monthly payment plan and pay your creditors on time so they dont go into collections. Yes CC (credit counseling) will go on your credit report as well, but it is no where near as bad as being in collections or being closed as "settled for less then owed". It doesnt stay on your credit report that long and doesnt destroy your credit or FICO score. I really regret not using a credit counseling service. I cant even try to apply for a loan or mortgage for years now because of them. I would say they are pretty much a last resort to banckrupcy.
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Register today to cash in debtcc points.

Lee,

Didn't you use to work at Debt Regret? How is Day Trading going? I currently work at Debt Regret and have been here for almost a year. This company is a great company to work for as well as to hire to Arbitrate your Debt. If I didn't think this company was operating under a high professional level of ethics, I would not be working here. Of course there are going to be some individuals that have issues or did not benefit from a service; however, that is just life. If everything worked as planned, in every case, consumers would have no need for our service, because they would have no debt crisis in the first place.

This is a great company that is there for the consumer and they have proved that time and time again. True...Debt Settlement isn't for everyone, but neither is Debt Consolidation or Bankruptcy. It all depends on the persons indivudal circumstances. You do have to have a great level of commitment and understanding of how things work. If you don't have the discipline to save each month, how are you expecting to pay off these accounts? With or with out the aide of a settlement company, you would be in hot water, because of the overwhelming unsecured debt.

To "Guest", You do have some of the specifics of the program correct, but you also have a large majority of your information wrong. To answer your speel on the BBB, there are other industries and companies that are effected by the BBB's new rating system as well. Google some of the negative press and litigation that has been taken against the BBB. I'm not saying the BBB is a bad place to do research, you just have to take their information with a grain of salt.

Consumers struggling with debt have far fewer complaints with the debt settlement industry than critics have alleged. The Better Business Bureau (BBB) has released statistics that reveal critical flaws in its own grading system.

According to the BBB's 2008 Complaint and Inquiry Statistics, the number of complaints issued over the course of the year for credit card counseling is disproportionately higher than the number filed for debt settlement. In fact, credit counseling services had approximately 4.5 times as many complaints recorded by the BBB than debt settlement companies in 2008.

Yet, the BBB continues to award poor rankings to the debt settlement industry under a system that makes it virtually impossible for a debt settlement company to be rated anything other than a "D" or "F". Meanwhile, companies in the credit counseling industry are not penalized.

It is facts like this that show the BBB's rating system needs an overhaul.

The BBB's statistics also showed that debt settlement resolved 91.5 percent of its complaints compared to just 83.9 percent for credit counseling. Those numbers include Debt Regret!

Debt Regret has never posted anything on this website until now. Our employees are all certified through the IAPDA and do not have the time or motive to post anything on this website. There are some actual clients that have posted on here, I checked.

There are no clients that have posted anything negative on this site. All those comments are all competitors or someone with an Axe to grind against our Domination of What the CONSUMER wants. Simply put, our services not only "work" but our brand is - Sought After - Our Reputation speaks for itself. This Posting below is EXACTLY why you as a consumer should ALWAYS make contact with the company you are looking at yourself, NEVER hold back any questions and always remember that the internet is simply a vast, uncensored, inaccurate, graffiti wall. The post is so off point, dishonest, twisted and ridiculous that it should be an EXAMPLE to you as the consumer to take EVERYTHING you read on the internet - about ANYTHING - with a grain of salt, or less then that. On the subject of complaints, we have less complaints in 4 years, then your local Fast Food restaurant will have by the end of the day, today. We raised our Minimums and raised our standards for ACCEPTANCE into our program and those issues have stopped as we no longer admit people that take no responsibility for their debt and the money they rightfully owe their creditors. We have had a few clients come to this website and post, but most probably ignore this thread as another website that sends no clear message and only victimizes the Consumer more. Here they are trying to research accurate information and they have to not only realize that the credit card companies have questionable ethics and what's worse is that now that they have the courage to try to get out of debt, they can't find anything but more "smearing" and any lie makes one lose confidence. If you are reading this and you are in debt, do not let these sorts of websites discourage you from getting out of credit cards. You should contact us or if you want to find out what our clients think - use what I feel is a Broad and Legitimate source of, not testimonials, but strong supporters of this Industry. The Debt Settlement industry is being attacked by the establishment that has failed the consumer for so many years up to this point. We are far more organized and ethical then any other Debt Management industry has ever contemplated. We also have the credentials to prove it. As a company - your results with Debt Regret depend first on the Client sticking to the SAVINGS plan as structured from the beginning. If you save and really try hard to stick to your savings plan - you will be successful. That's the way it goes with any of these TASC/BSI accredited firms. There are some other companies listed in the link provided. These are the sources you need to use.
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If all this Internet Chatter and bashing of our company makes you feel less confident about our company or Debt Settlement as an Option to get out of unsecured debt, try to understand that in the market place where "new business" is growing rapidly into a respected industry, there are casualties to that REFORM of the market place. WHO DICTATES THE MARKET PLACE? The Consumer - YOU do. Debt Settlement and Debt Regret are targets because we are successful and really do help people. We in no way want to exploit anyone. We are enthusiastically ethical and much more financially informed then the industries that Debt Settlement is pushing out of the way or off into extinction. These old hat programs that are not what the Consumer wants anymore, are fighting back as much as possible. That may be through trying to sabotage our industry, influence politicians to target one bad apple and make them the poster child of Debt Settlement, or even a well respected consumer advocacy agency starting to "grade" businesses, while taking money and fees for memberships, and these agencies can so easily infiltrated at local levels to progress anyone's private agenda and therefore poisoning the water even more for the Consumer that has to sift through all the politics, trash, gossip and lies to make a decision they know they MUST make and feel so cynical from being mislead - no matter what they choose they will go through turmoil until their first results come in.
This is America, not Colonial England or some exclusive country club. The Consumer is the one that dictates CHANGE. Obviously the consumer really likes debt settlement. When's the last time YOU wrote a LETTER or went out of your way to PRAISE a company for doing for you, what you hired them to do. We don't expect reviews to pour in, but the silence and LACK of REAL complaints is testimony to how Great we actually are and that debt Settlement and Debt Regret is not only a viable option but an outstanding source for financial/debt help. Anyone else that doesn't want to allow for the Market place to dictate itself and allow the Consumer to dictate WHAT will be the BEST option is for them , specifically regarding help with a debt crisis, then they have an agenda and are just polluting the water. Its hard as a consumer to weather all that noise and rise above it, but until the old r??gime is fully flushed from the market place - you have to be willing to DO YOUR OWN WORK and DIRECT CONTACT with the company. If you get a "sales person" that speaks only in verbal platitudes (sales talk, they all sound the same) with no real financial conversation - then move on or ASK TO SPEAK WITH SOME CURRENT CLIENT OR GRADUATED CLIENTS. We have plenty of clients and graduates that are willing to speak to the occasional person or company needing help. We have that option because what we do is REAL and SERIOUS. This BLOG and everything written on here that is negative is nothing but noise.

Here is a SOLID source of information from our clients that are 100% real. How do you know? Its the FTC and you don't send the FTC, or anyone else, "fake praise" as we are accused of in this BLOG thread.

[FONT=Arial][SIZE=2][URL="http://www.ftc.gov/os/comments/tsrdebtrelief/index.shtm"]http://www.ftc.gov/os/comments/tsrdebtrelief/index.shtm[/URL]
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Quote:

Quote:

State your first name and last initial if you say we wronged you. That NEVER happens but I will check. And. Honestly respond ib secure fashion.
I allowed myemail open for ANYONE to email me. Email me and i'll answer ANY question you have about DEBT REGRET.

[email]BCOTTEN@debtregret.com[/email]. I hope we can help anyone facing a debt issue find some light or be just one of several authentic and ethical options that help you to be debt free.

Just ask. I and this company of nothing to hide. Unlike all the fake complaints adding to your frustrations.

We are licensed to do business in TEXAS AND. COLORADO. ALL THE BASH ARE LYING.
On our website on the upper left...you can't miss the PBS link for the Free videos. Watch these. All the way through. FREE HELP AND EDUCATION.
NOBODY ELSE CAN ARGUE WITH THAT!

So I've been paying debt regret for over 6 months and last week got served with not one but TWO lawsuits from my creditors. I contact debt regret and am told this is a normal part of the program and will probably happen with all of my creditors before the accounts are "ready" for Debt Regret to work on a negotiation! I live in a small town and when it's in the paper that you are being sued EVERYBODY knows! I'm currently looking into bankruptcy..I can pay a br off in less time and with less $$ than Debt Regret would've ended up with. I know that shows in the local paper as well, but I'd rather that show up once than have 10+ lawsuits from creditors show. I SERIOUSLY regret DEBT Regret!!

Unless you are okay with being sued by all the companies that DR is supposed to be working with I would stay far away from this one!!

I witnessed a TASk audit go on and it was very sketchy. The CEO of the company made a fake test and handed it to each of the employees to complete with the answer sheet. this lost all credibility for both companies

General News US
National Law Firm Reaches Out to Clients of Debt Settlement Firm Gone Bankrupt
Oct 27, 2009 11:24 CET
The Bay View Law Group Extends Assistance to Clients Negatively Affected by Texas Based Debt Settlement Company Filing for Bankruptcy
Bay View Law Group, P.C. a California law firm providing debt resolution services of consumer bankruptcy and bankruptcy alternatives such as debt settlement and debt management announces today that the attorneys of Bay View Law Group will waive attorney fees for debt settlement services to any current client of Debt Regret USA who have been left without debt settlement services due to Debt Regret USA's recent bankruptcy filing.
"After seeing the announcement on theDebt Regret USA bankruptcy website -http://www.drusabankruptcy.com - we knew we needed to offer assistance. Without an avenue to settle their debts, these clients may find themselves forced into bankruptcy which is often the debt relief choice they most wanted to avoid. Our attorneys are stepping up to help these clients settle their debts. The only expense to the client would be a small monthly administrative fee," said Jose A. Trejo - Managing Attorney of Bay View Law Group, P.C.
Any client of Debt Regret USA can contact the law firm by dialing 888-300-8884. If clients can provide their name, contact information, and proof they were a client of Debt Regret USA, Bay View law Group will contact them within 48 hours and discuss the possible solutions, again at no cost to the consumer.
"We feel this is the right thing to do," said Jed Thurkettle, President of Bay View Law Group P.C. "We also understand the clients' trepidation about debt settlement after their recent experience. We are recommending that these clients self-escrow their settlement funds thereby insuring it is always under their total control and that they and they alone can decide to accept and fund or turn down all settlements that are offered. We not only want to offer help but peace of mind as well."
About Bay View Law Group:
Bay View Law Group, P.C. is a law firm practicing in California with attorneys throughout the United States. The firm's experienced attorneys are committed to helping clients regain control of their financial situation through bankruptcy or debt settlement negotiations. The firm's managing attorney, Jose Angel Trejo, has an impressive pedigree with two undergraduate degrees from Stanford University and a Law Degree from UCLA. To each case, Bay View Law Group, P.C. brings its collective knowledge and understanding of the credit debt industry and how the creditor's bottom line determines the likelihood of a satisfactory debt negotiation agreement. Bay View is also a proud member of United States Organizations of Bankruptcy Alternatives (U.S.O.B.A.) and the U.S. Chamber of Commerce.
Safe Harbor Statement:
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Except for historical information, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties, including but not limited to economic, competitive, governmental and technological factors affecting Bay View Law Group, P.C. operations, markets, products and prices, and other factors.

The problem with the internet is that anyone can get up and preach totally incorrect information. Then other unintelligent people see it and take it as fact and go around posting the same crap.

1. The fact is that Texas does not regulate debt settlement companies. Debt Management yes. Settlement no. There is no lisence, nothing.

2. Don't people understand that their credit is shot and deservingly so because they failed to pay back their debt. It has nothing to do with debt settlement. You are trying to get out of your debts. That is why your credit is bad.

3. People are always looking for the magic bullet. You buy the pills, the gadgets, the get rich quick and then complain about your results. Then you become self proclaimed leader of the weak right here on this very forumn.

4. Debt settlement is a process that uses the creditors own collection process that is written into their business plan to help you fascilitate a settlement after your account goes delinquent for at least 5 months. How in the world do you expect that your credit won't get shot?

You probably bought "Miracle Water" from tv too....

just my two cents, once your in over your head there is not much you can do about your score anyhow even before your late so thier score is probably already crap. But with that being said people need to do what they have got to do to get thier head above water, with that being said settlement was my answer.

Second note i do agree that you should take what you read on the web with a grain of salt, BUT the internet is a great tool when researching which company or program is right for you and would NEVER steer anyone away from a forum such as this. sure there may be a few disgruntled employees here, or a company employee but you can usually spot them out a mile away and they are usually called out pretty quickly.

Clients of potential companies need to know the facts about settlement before signing up more than often alot of companies are not upfront with the facts and they are shocked when they get sued.

bcotten just clean up your company and everyone will leave you alone. Stop preaching. Debt settlement companies did it to themselves.

So you aren't a prorater company?

And trouble that article is about Debt Relief USA. Somebody changed the names on you.

I have a few questions if you don't mind?

Your an idiot. Anyone who knows anything about credit knows that credit counceling is a form of Chapter 13 bankruptcy and will show up on your credit as such. There is nothing that you can do to your credit that will damage it more than filing for bankruptcy. Not only will it ruin your credit for at least 10 years, most companies as if you have "ever" filed for bankruptcy; therefore, it could keep you from getting a job.
So stop spuewing out your opinion and stick to the facts!

I too am a victim of Debt Regret of TX..all of the above negative comments are absolutly true and then some.

"guest" at 12:15 p.m. on 1/14/2010:

I am researching debt settlement companies because I have to make a career move. My bank's subsidiary mortgage company is closing. The president offered me this career path and I am leery. I've been in that biz' for 13 years. Big banks have lobbied to change laws that will destroy all the little guys in the name of protecting the consumer, even though the big banks had some of the worst practices, service and outright frauds. Check out "RESPA 2010 law". Worst law in the biz I have ever seen for the consumer. You will all find out within a few years.

I need to point out that you are incorrect about some things. A BK7 is very difficult to attain, leaving most individuals and families the choice of a BK13. Either way, they stay on your credit for 10 years. Settled debt remains for seven years, last I had heard.

Settlement is bad for your credit, but I have not factually heard that it is worse than a BK. I will try to find out more about that while I am writing a freelance article on credit schore proteciton.

But the worst thing is a foreclosure, clear and away. So you are wrong.

The reason this appeals to me is I have seen some of my clients lose their homes because of income reductions (the real reason for the economic crisis - the mortgage industry only made it worse, did not cause it), and some could have been saved with debt settlement, IMO. Others are currently living on catfood budgets. They took the consumer credit card debt because they could not afford their groceries, utilities, etc. Now maxed out, and w/ little to no equity, settlement may be their best option.

Anybody can settle on their own. The problem is that many do not seem capable of negotiating or initiating the process. They don't know where to start. This is why the settlers provide a value to some people - they can do it. I've done it for free for some of my borrowers in the far past, when I worked for a subprime direct lender in the late '90s, but I now have my own money problems and cannot afford to do this for free anymore. It is a lot of work.

As for poor credit keeping you from getting a job, that can happen, but not as much as you think. Prospective employers are more concerned about public records - lawsuits, arrests, etc. A lot of them are getting used to seeing bad credit and are accepting it. The median average credit score on any given day is 720. That socre can include a recent mortgage late. That was not the case just three years ago, when you could not have any mortgage late for many years if you had a 720 score.

A close friend did a BK7 before the law changed and was able to get a job at a major bank, then another major bank, all within the two years after the BK. So far, it did not prevent me getting a job in a side career (awful move, BTW) two years ago.

(I once had great credit, but it got hard to make money as an honest loan officer when so many crooks entered the mortgage biz' and were promising what could not be done, rates/terms that could not happen, and I lost prospective clients by telling the truth. Regulators were on the take and would not enforce the laws that were already fine. Crooks gained market share. Good guys lost market share. Now you know.)

I am currently using debt regret and have read all of comments.. to be truthful if you do what they ask you to do.. and save money you can get your debt paid off, and you can get your credit repaired bc you are doing this under a hardship.. it takes a few months months even up to 6 months for each one to show on your credit report has paid off... i am in the process of my first account being settled and the orginal debt was 5,500 it is being settled at 2,500 that is typical for all credit cards.. yes you can work with your credit cards on your own but it takes longer.. i started this in Feb and this is the first 1 being settled all others ones will have offers soon.. the one guy was right read the paper work.. i signed a deal with them saying everything will be done in 3 yrs that is with the credit repair so far they have done exactaly what they said.. and to be honest as long as it paid off that is all that really matters.. and you keep the proof and explain the situation if you need to get a loan they understand.. it is actually a very good thing thye offer

you have not settled a single debt but you know that if you do what they say it will work. I hope it works out for you but you cannot get your credit repaired because of a hardship. It sounds like you have been sold. Additionally, each time the debt is sold to a collection agency it will hurt your credit even more because it will show another outstanding account. Once the debt is settled that will eventually help. But to repair your credit it will take time and new credit. If you pay nothing it will drop off in 7 years. If you settle it will drop off your credit 7 years after your settlement. So you are looking at 10 years.

Most these posts seem to be people that were frantic and did no research of their own into their options as consumers. If you knew your options, you would know that debt settlement is not about maintaining your credit rating, but rather about getting out of debt. I am no expert in the subject, apart from having had and settled debt of my own, but your credit rating really doesn't matter when you are unable to even make your minimum payments to creditors. Credit is based on income, debt-to-income ration, debt, outstanding payments, length of time of accounts, and many other factors such as level of education, type of job (ie. executive vs. employee position), rent and other expenses.
You cannot have good credit if you owe more than you can afford, period. If you have been in that situation, you know what I'm talking about. Debt settlement companies are not in place to scam people out of their money, but rather to advocate for them against large creditors that know their way around your rights as a consumer. You pay a debt settlement company to keep you informed of what your rights are, and to settle your debts with your creditors. They CANNOT settle your debt if you have not saved any MONEY to settle them with. Naturally, since you have already demonstrated poor credit management, these companies require you to pay the fee of representing you (not to be mistaken for attorney representation) and THEN you save your money to pay out a settlement with the creditors you owe.
Debt settlement companies know the FDCPA and FCRA laws that both govern credit collection companies, credit reporting agencies, and YOUR RIGHTS as a consumer. If you do not know these like the back of your hand, then you are at a high disadvantage in attempting to pay off debt you cannot afford.
My personal opinion is STOP worrying about your damn credit rating (something that can be REPAIRED in a matter of 2 years) and START worrying about getting OUT OF DEBT! I had fortunately only $18K in debt, but as a poor and uninformed college student, couldn't afford the minimum payments. I went through debt settlement and am completely debt free today (apart from my running credit line of $3200, which I CAN afford today...ie payoff every 2 months at most). My credit rating went from 400s when I was in debt settlement (YES, debt settlement makes your rating go down UNTIL you start settling your debt), to high 700s (excellent credit). I can obtain any credit card or loan I want today.
Inform yourself and make a decision on your own. Do you REALLY know what you're talking about when you're worried about your credit vs. your financial independence?

The following is paragaph from Alan Barnes (President and CEO of Debt Regret) on how to choose a debt settlement company. Please note on the TASC web site "Debt Regret IS NO LONGER A ACCREDITED MEMBER".

* Is the debt settlement company you are considering accredited by The Association of Settlement Companies (TASC)? Personally, I would not consider doing business with any debt settlement company that's not! TASC accreditation reduces risk to consumers and gives overall confidence because the member company has been independently evaluated by a third party for its competence and performance capabilities. Any company that truly has the client's best interest in mind will take the time, and make the effort, to do so. While the process can be long and difficult, in the end, it is best for the consumer and the company.

So the CEO would no longer do business with his own company. Must have been those fake government letters, front loaded payment plans (now illegal), low success rate, dishonest sales, etc.

call Ron at 888-362-1401 ext 136, he goes through a national law firm

Stay away from debt regret! Settle it by yourself. Debt regret is a scam. This is how debt regret work.

1.They will tell you they can lower your debt by 70%, and it will take about three years to settle it down. The will also suggest you stop making payment to your credit card companies. And will ask you to fillout some paper work and will take a statement from you.
2. They will take your checking account info so that they can charge you their fees over three years period of time
3. They will charge 10% from your pocket of your total debt. For instance if you owe 50000, they will charge you 5000.
4. Three years later they will send you a letter or an email stating that they can settle some of your credit card accounts. And they will give you an offer. When you look at the offer you will see the offer amount is higher than the original amount you owe to your credit card companies.
5. If you call and ask them why your settlement amount went up, they will answer: Since you did not make payments to any of your credit card companies for three years all the interests and fines has been accumulated and your debt is two times higher than the original amount you woed to the credit card companies.

So basically three years later you would be in much worse situation dealing with debt regret after giving them your hard earned money. I know this because I dealt with them and I am one of their clients.

Giving up all the hopes, thinking I got nothing lose, I started dealing directly with the debt collectors. I settled all my credit cards by myself. Giving you an example, I settled one of my credit card accounts for 833, the original amount I owe them was7500.
By the way, BBB is a joke. Anybody can get bbb certified by paying them some money

I did my research and comapred different companies, debt regret seemed to be the best. Looking back now 2 years I wish I never used them at all. The biggest reason Debt regret did not review my accounts close enough, and I defaulted on 2 secured loans. And once they know they can't settle the account I was stuck with the bill. The credit cards when they say 40-50% of the balance, that is true. But what they don't tell you is this; it is 40-50% of the current balance with all the late fees and extra charges. I had roughly 25k in credit card debt due to my ex, divorce, and legal matters. I really trusted and belived what Debt regret sold me over the phone. If you want the best advise it is pay down the debt on your own, or take out a personal loan, second mortage, or refinance your house or car. When I started with Debt Regret my credit score was 780 now its 650 and I have to pay a credit repair company to try and get back up over 750. PLEASE DO NOT, I REPEAT DO NOT USE THIS COMPANY. They have horrible customer service, never returned calls, lucky to get an email from them, and worse of all they don't even settle any accounts for 6 months but they take your money every month. This company really screwed my life up.