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Debt Settlement Web Site

Date: Sat, 02/09/2013 - 09:14
Submitted by cinderalla on Sat, 02/09/2013 - 09:14
Posts: 13
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I started debt settlement process on several credit cards. I signed up for a web service to help organize my correspondence and contacts. They have an option for me to offer to settle with a creditor. I read that it's best to let the creditor bring up the settlement. What is the better course of action or inaction?

I have only had conversations with one creditor. They want me to make payments or get into a program to bring the acct current. I said I can't do that and I have to work out a plan will other creditors too. I also said I'm trying to avoid bankruptcy. Everything I've read says stall until you are at least 90 days past due to talk settlement.

Thanks,

Cinderella


its almost a job trying to track down who you should and shouldn't pay.. let a professional handle it. I got scammed many times by paying collections thinking I was paying the right company... i trusted ADVERTISING LINK REMOVED PER TOS


Submitted by on Mon, 02/11/2013 - 06:09

( Posts: 202330 | Credits: )


You do not have to pay anyone to settle your accounts. Do it yourself and take control of asking for a settlement.

You do not send settlement offers in writing....they will not respond. You call in and negotiate it....if you come to a verbal agreement, have them fax you a settlement agreement. No settlement letter, no money.


Submitted by SOAPLADY on Sat, 02/09/2013 - 18:25

SOAPLADY

( Posts: 17315 | Credits: )


So I'm 60 days past due now. I sent letters to all my creditors and told them I'm having hardship, but am willing to work with them.


Submitted by cinderalla on Mon, 02/11/2013 - 18:17

cinderalla

( Posts: 13 | Credits: )


This website has documentation and lessons on how to do debt settlement yourself. Their advice is suggesting that I contact the creditor and offer a settlement. The other book I read said wait for the creditor to offer the settlement. I'm unsure of what is best now. The book I read is 2 years old. Things may have changed. I only paid $50 for a DIY instruction set and a way to track my letters to the creditors. I'm just getting started and sent letters letting them know I'm in a hardship. I was in a debt management program, and Discover said they are bound to the rate they gave me when I was in the DMP. However the DMP company wrote me and said the creditors would increase my rates. What is correct?


Submitted by cinderalla on Mon, 02/11/2013 - 18:37

cinderalla

( Posts: 13 | Credits: )