Superior Debt Service?

This is a good question and the answer is rather debatable. In my opinion, it matters what your goals are. Typically, consolidation lasts for 7 years if not longer depending on your debt. Your credit report will reflect your participation in this cccs program and you will not be able to get credit with this remark. So, plan on having no credit for some time. This remark is the same exact derogatory point wise as a ch. 13 bankruptcy.

With settlement, it does not report your participation for one thing and most programs last 3-4 years unless you find a program that does not charge a set up fee. Those without set up fees last 1 year to 2 years. I am enrolled with one that will have me out of debt in 18 months with 78,000 in debt with a monthly of $1500.00. I have been with them for 7 months and last month, all of my accounts were settled. I had saved $12000.00 to settle 5 accounts and I will be paying $1200.00 per month for the next 12 months as Citibank allowed me to settle over 12 months. In total I saved $52000.00 not to mention the interest.

Since I settled all of my credit cards before they charged off, my negotiator says that my credit score will go back to what it was before I enrolled if not higher. I am trusting his word since everything he said has been true all since I enrolled and an initial estimate was provided. From the time I enrolled, he estimated my total payoff would be $31,000.00. He was off by $5000.00 and that tells me he worked hard to get that much more or a reduction.

For me, credit consequences and money saved were most important. I am confident that I saved the most money possible and as far as my credit is concerned, I am confident that this will have the least amount of negatives as opposed to working with consolidation and an 18 months as opposed to 7 years is a remarkable difference.

Settlement does have negative effects since all accounts are reported as settled to the reporting agencies but from what I gather, all programs settlement and cccs have negatives. It just seems logical to choose the shortest program so that you could recover faster.

I definitely did my homework on this one.

Who is your debt settlement company

Guest - thanks for the info...

I talked to someone from Superior Debt Svc today and he did make a good impression on me. He didn't push and he answered my questions. They are a debt settlement company. He also gave me several monthly payment options depending on how fast I want this over with and how much I could afford to pay monthly. I also like that you will be working with the same person throughout the process. I told him that I would call him back sometime this week with my decision. They are in good standing with the BBB, but I need to do some more homework.

They do not charge an upfront fee, it is included in the monthly payments.