choosing a debt settlement company
Date: Tue, 09/28/2010 - 15:55
Hi -- I currently have 86,000 to 90000 in credit cards -- unsecured -- I have been trying to contact the companies directly to go into hardship programs. One (chase) accepted my hardship as well as amex == but many will not. I have until now been current on all my cards that is part of the problem (but I didn't want to stop paying the minimums) I also am trying to sell my house but that is slow too -- as well as with the rest of the country. my mortgage is 5020 monthly and that takes a huge chunk of my paycheck. I am going to try for a modification until the house sells. anyway -- any ideas of good reputable settlement companies? chase suggested one to me over the phone -- money management intl -- are they good? what about freedom?
thanks for all your help -- just starting on this
thanks for all your help -- just starting on this
Do it yourself and save the cash. Read the forum....lots of peo
Do it yourself and save the cash. Read the forum....lots of people do it!
your right
Quote:
Originally Posted by SOAPLADY Do it yourself and save the cash. Read the forum....lots of people do it! |
I know your right -- its just that I think they have better negotiating skills -- I never have been late with any payments -- been the cc poster child probably --
now I realize that with their interest they've been making so much money off me -- and everyone else --- I don't say that It isnt my responsiblity but it makes me mad when I try to explain all that I've done -- taken 2 loans off my 401k -- and still are not any more ahead due to their interest fees
MMI, in my experience, is fairly reputable, but they charge a fa
MMI, in my experience, is fairly reputable, but they charge a fairly hefty fee every month until your debt is paid off, which only puts you further in the hole. If you can negotiate yourself, it will be less expensive. A little more stress, but less cost.
just do your research...build your confidence...it is pretty eas
just do your research...build your confidence...it is pretty easy to do!
Quote:Originally Posted by SOAPLADYjust do your research...build
Quote:
Originally Posted by SOAPLADY just do your research...build your confidence...it is pretty easy to do! |
thank you for your advice-- I think I am going to have to do this on my own -- they told me basically that I would need to get a second job or borrow from my mom -- im behind like 3500 monthly right now --
I do have a house to sell -- if it sells then this will be over -- but that's a big if --
I just need a couple months -- I am reading the do it yourself forums to try to start to understand where to start --
I've listed all bills, minimums -- wasn't sure if I should start with the smaller companies since I dont have that much to settle with right now --
I am current on everything as of now -- on oct 14th that will start to be a different story -- the agent at novadebt - which is where money mgmt international directed me to said that I should not settle on the debts -- said it would create the same effect as bankruptcy -- I will need to buy another house eventually and not sure what to do?
help!!
thank you soap lady -- you made me feel good when I saw your response right away last night :)
choosing a debt settlement company or do yourself
Quote:
Originally Posted by SOAPLADY just do your research...build your confidence...it is pretty easy to do! |
I think I will try myself -- I am going through your do it yourself information which is very helpful --
I did speak with two different companies == money mgmt international (great company -- the specialist could not help me but he tried as hard as he could) and gave me some great info besides === and cared! that was worth more than anything
novadebt -- not so much caring -- and different company --
anyway -- we'll see how it goes -- just beginning this process unfortunately :(