In 2007 I lost my job. At that time I was earning $150k/year as a mortgage lender. The only way I could survive was using credit cards. 1 year later I owed $130k on the cards and now had a job earning $45k. I couldn't make the payments and fell behind. A co-worker of mine recommended debt settlement. I had never heard of it. I started to research, found this site, researched some more. I learned that a lot of the companies promoting themselves are nothing but scam artists and rip offs. Finally I discovered a company on this board that had good reviews and an A+ rating with the BBB.
Fast forward to today and I'm well on my way to being debt free. I could not be more pleased with the results of my settlement company; they literally took my life that was fractured in pieces and put it back together whole.
I want to thank everyone on this site for their comments and reviews. If I can help any of you please let me know.
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.