Hello, everyone! I know that each case is a different one... But I am so confused in what to do... I have 40k in unsecure cc... I don't know if I pick debt consolidation, debt settlement or BK... I current do not have any late payment... but I can't do the minimun payments anymore... I s/w A Debt Consolidation company and I would have to come out at least with almost a $1000.00 in order to make the monthly payments... I current don't know how... even though I have already applied for a part time jobe... The Debt Settlement I don't know how it would work because I am scared to talk with the company... and BK I would just file to be able to keep my house... Please let me know your experience and what have worked for you guy.I also have been reading that is able for we settle on our own... What I need to do??? Thanks a lot for your help...
By signing up a debt counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
Some creditors and collection agencies refuse to lower the payoff amount, interest rate, and fees owed by the consumer.
Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.