debt settlement

Unlike credit counseling, which works on behalf of creditors, debt settlement companies like Preferred Financial Services work for the consumer. Debt settlement may also help you avoid damaging, embarrassing bankruptcy. It is the fastest method of settling debt that is available to struggling consumers.

Using a professional, reputable debt settlement company can help consumers reduce the amount of money they owe and the length of time it takes to pay off the debt ??? often dramatically.

WOW. I totally disagree with your overwhelming support for these companies. It is quite easy to settle your own debts. In doing so, you retain control over your life and can settle frequently as low as 30%.

I used a company called MYSELF and did better than 50% - why would anyone pay you to get a higher settlement?

I settled for 30 % by myself.

if you want to do a diy debt settlement, here are some tips:// If you are not yet past due or behind on your accounts - stop your monthly payments, until you fall behind. Creditors don't negotiate. They do but do you have 75% of your balance ready to hand over to them? if so, then go ahead.// Brace yourself for the creditor calls - ignore those because in 6 months time , they are required by the law to write off the account, and they usually turn over the account to collection agencies. (you try to settle with them instead of the creditors unless they take legal action against you ...)// Make an offer that you can afford. Start with a very low percentage, lower than 50% and expect it to be refused. You make another one, it might get refused too. The longer your debt sits there, the cheaper its worth become. Take your time.// Tell them you're filing bankruptcy.// If they budge, make sure to get everything in writing before you send in payment.//