Debt Settlement Help
Date: Sun, 08/19/2007 - 09:12
I am currently with a debt settlement company Debtshield. I've been with them since December 0f 2006. I owe about $28,000 in unsecured debt, which maybe $4,000 has been settled. I pay them $500.00 a month. The past few months I have not been able to make a payment and it seems I will no longer be a client. Simply stated per the agreement I signed, if they don't get their monthly fee every month, they will drop you. The monthly fee is a calculation of the total dollars still remaining to be settled. In my case it's around $168.00 a month. The fee drops as accounts are settled. All of my debt is credit card debt and all have charged off.
My intent is and always has been to pay my bills. When life throws you curves that you aren't prepared for, it can be quite challenging. My question for the forum is should I find another debt settlement company with better fees? I have read some posts about Century Negotiations, Inc., do they have reasonable fees? Is it possible to settle these bills myself?
TIA
Rich
Not sure how that would work. I have read that once your debts a
Not sure how that would work. I have read that once your debts accept a payment plan from a debt settlement company...and then you default...they won't neccessarily go along with another. They could all activate and go back to wanting payments from you NOW...full past due payments etc. If you are looking for another company...definitely go to the BBB and look them up. Make sure they are reputable. I will also call and ask a lot of questions...about how they would take over from the other company, what the chances are of your cc going along with the change, etc. Do a lot of homework before you decide.
Thanks Morningstarr. I actually don't have any current settlemen
Thanks Morningstarr. I actually don't have any current settlement contracts with any creditors because there are no funds in my Debtshield account. Debtshield waits until there is enough funds before they approach a creditor for a settlement.At least that's the way it's been working...