debt settlement: can you be sued?

answer to question one, is yes you can, but if done properly not likely. and what i mean by this is if you choose a program that is 2 years or less the likely hood of it happening is slim, not that it couldnt but unlikely. usually this occurrs when there is not enough communication.

answer to question 2 is yes they can but your usual settlement amounts 50% or less of the debt is still alot lower than if you would pay the origional full balance. say for instance you have acard with 1,000 on it at charge off say they choose to charge fees (some do some dont) and take that debt to 1400.00. Now a typical settlement is usually lower than 50% (700.00 or less would be your settlement amount still saving you a good bit of money. most of my settlements through the company were more like 30-40% of the debt which would be 420.00 on this 1,000 debt.

anymore questions? let us know

I was in a debt settlement pgm. I was sued twice. One was Citibank on a Home Depot account about 6 months after I stopped paying and a month later sued by Target National Bank for a Target Visa. So it depends. Some creditors can be VERY aggressive and being in a debt settlement program doesn't protect you.

The creditors can continue to add interest and fees if you are in a settlement program same as they could if you are not in any program.

My opinion is that debt settlement programs take a little bit of pressure off but in the end most charge pretty hefty fees for something that you really can do on your own with a little bit of research. This site is a good site to learn from and ask questions and I wish I would have found it before I signed up for a settlement program.

Good luck!