I am a happy and almost free man who has risen from the debt hell. Past 5 years, I was falling deeper into debt from my 11 credit card accounts. Last October of 2007, I hit the wall of reality by ran out of credit card balance juggling tricks. I was denied for opening any more new accounts and my credit card debt was way more than my yearly income. I was under 130K credit card debt by end of Nov. 2007. It was very depressing Nov. , Dec. and Jan.. I talked to bankruptcy lawyers and credit counselors to find any way out. Monthly payment of credit counseling debt management plan was too much for my income to have any room for any fall backs for 5 years. Bankruptcy was not a good option neither because I am currently self employed small business man. My business was getting better but not getting better fast enough to pay off monthly minimums but it was only bright side of my financial future. In Feb. 2008 , I stumbled in to this web site. I found debt settlement options with unheard- fraction of settlement amounts per original balance. I talked few debt settlement companies but I did not liked idea of paying 15 to 12 % (15K) of my debt as enrollment fees up front before settle any accounts. I was already getting 5 to 8 collection calls from 11 credit cards a day at that time. Also I was told that I can not enroll my business credit card accounts and Amex cards. So only less than half of my credit card accounts were qualified for debt settlement programs. I was so depressed of reality of my debt burden and was hopeless for the life all together. Lots of unthinkable thoughts became more acceptable to save my family from the hell of debt I was in. From this website, I learned and read more about other peopleÃ¢â‚¬â„¢s stories. By mere coincidence, I found gentleman named James Lombardo of Debtexpert.com on one of success stories on this website.
I emailed James about intention of signing up on his program. James was a very calm and assuring guy. He told me that he can settle all of my credit card accounts including business accounts and Amex before 180 day charge off and will not jeopardize my business.. When he said that I could not believe what I heard. It was sing from heaven for me. I signed up with James for all of my 11 credit accounts. He wants to wait for little while to make credit card companies anxious to talk the settlements. By middle of March, I saved up 8k from not making monthly payments and unexpected surprise from my business and I borrowed 14k from my IRA accounts. James settled Chase $26k balance for 10K Ã¢â‚¬â€œ this was on the way to litigation on 4 month delinquency, Bank of America- 26K for 6K and Advanta- 14k for 7k and Amex and Citi had offered to settle. This totals about 100k off of my debt balance in just 2 month!! My phone does not go crazy from all collection calls. I feel very strange about silence. I pick up my phone time to time and see if it is still working. Ha Ha HaÃ¢â‚¬Â¦. Now when phone rings, I do not feel depressed any more. I can answer phone calls with brighter face. I can sleep much better and I can concentrate on my future and daily work and living. I am happy and my family wears brighter smile more often. I still need to settle 30K. But I can see the light at the end of tunnel and I can smell the Spring. Thank you James. You saved my life, family and future.
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.