debt settlement companies

Unfortunately this is a very common story you hear about people who just sign up to the first debt consolidation service they see without doing any research about the company first. Most people don't realize that a lot of these companies will just take your money and not make your payments until the first company agrees to offer a settlement. This can be just as damaging to your credit as filing for bankruptcy can.

Just doing something like a simple search with the BBB before signing up to one of those companies can save you a lot of headaches in the future. Take Debtcc for instance. An A- rating (almost perfect!) and 0 complaints against them in the past three years.

Although a majority of the debt consolidation companies have very poor ratings with numerous customer complaints. It is actually very easy to tell the difference between a good and bad debt consolidation company to work with.

There's no guarantees in a debt settlement program, that goes with settlements or possible litigation - however it does work and I am an advocate in certain circumstances. Talk to your settlement company, tell them to take that Chase debt out of the program and refigure the numbers w/ the new lesser debt amount, and work out a payment plan w/ your Chase on your judgement.

Many people join debt settlement companies because what they hear from the person on the other end entices them. Debt settlement is great when accounts are being knocked out one after the other, for this money has to become available.

Sometimes unfortunately we are not able to come up with the funds fast enough to settle all accounts and some may even end up filing judgments against us.

Try debt settlement companies that only charge fees based on performance and that allow you, the client, to keep your money in a bank account of your own.

not to name any names but i know companies who charge fees on perfomance and completely outright falsify the settlement by informing the client that the settlement came in at certain percentage when in reality it came in lower.

thats why you have a company that sends you thier copies of everything they send the creditor. i would then get a letter from that company that stated it was paid so that i had proof that if they came back later, they couldnt try to recollect, that and i knew exactly what the agreement was.

I myself needed settlement, and frankly it is tough, but it can be sucessful. not that its perfect, i did get sued 1 time by citibank. so it can happen. but it was worth it in the end i only wish i wouldnt have let it happen to begin with.

Thanks for all of your comments. I wish that I knew about this site a few years ago before I signed up with a company out of Florida. I just checked their rating with Western Florida BBB and it is "F", there are a lot of complaints. NO surprise there. They kept my money. I did not know what was going on. They continue to make excuses.
WWR has the Chase account. They are soo nasty. They will not and would not ever work with the settlement company. The funny thing is..this company out of Florida, contacted me. I was with a consumer credit company. I wish I would have never left them. This settlement company made me an offer that I could not refuse but in the end it cost me waaaayy more than the few hundred dollars that they saved me each month. It was not worth it..

I went with Rise Above Debt Relief which the BBB listed them with a D rating and it has 1 complaint. I began the program7/08 and had 16 credit cards. All have been settled but 3 of them. I can't wait until it's all done and then begin rebuilding my credit. Either way it's a very difficult process to go through. Creditors/Collection companies continue to call even when you're in the program.After going through all of this, I will never be in debt again!