Debt Settlement
Date: Sat, 01/08/2011 - 16:59
From all I've learned here and in negotiating my own settlements
From all I've learned here and in negotiating my own settlements. Doing it yourself seems to be the best way. No fees to a company and you have your family's best interest in mind. There are some good settlement companies out there I am sure but in my experience we have been able to negotiate well for ourselves without having to pay someone else.
Read through this board and you will see many stories of people successfully doing it on their own by asking questions here.
Good luck.
I agree with debtinthedistance! You can do this yourself and sa
I agree with debtinthedistance! You can do this yourself and save a lot of money in fees. You can use this forum and learn all you need to know. Also, KNOW the law. Read and be aware of what collection agencies can and can't say, threaten or promise, who they can call and when. You are protected by this law and you will want to know that it says and how to use it! Read on here and Google the FDCPA and know your rights.
You can do this yourself! You have come to the right place.
Lisa: Thanks for the info on being aware of our rights when it
Lisa: Thanks for the info on being aware of our rights when it comes to collection agencies...I would have thought we had none.
Quote:Also, KNOW the law. Read and be aware of what collection a
Quote:
Also, KNOW the law. Read and be aware of what collection agencies can and can't say, threaten or promise, who they can call and when. |
Knowing the laws is quite important for us all. Some of us aren't aware that the CAs can't call us at odd hours, threaten us or call us at work, if we don't want them to. It's within their right to pursue the debts, but they must also follow some rules. CAs can only contact a third party when they can't locate you (wherein you're the debtor), and they can probably do it only once.
Many of us are not even aware that the PDLs who aren't licensed to operate in a particular state can't demand anything more than the principal loan amount in that state. You may read through some of the laws over here.
And you can sue when they violate your rights. You can win $1000
And you can sue when they violate your rights. You can win $1000 for each offense.
They always backed off of me when they violated and I called them on it. We had one creditor that called everyone in our families! Even my husband's ex-wife. But they already had our contact information. One call to them ended all of that.