Is it a good or bad? I worked with Creditors directly, but no use.. They never come down on the APR.. still 29.99%. I never missed on payments.. Only bad thing I did for 2 cards are I forgot to remove the automatic payment option from my old checking account in May and Jun.. With that mistake, they gone up on my APR’s and missing payments. They will review my account only after 12 months of ontime payments… ? So, I started working with various debt consolidation companies, they offered for 0 / 36 months which includes(0 for the company).. But in their terms, they cannot guarantee any.. Can we trust such of these companies? When I calculate, I am not even paying all to the credit cards…Not sure if its a good practice? What happens to the credit score and profile if continue with Debt Mgt companies? Please share if any had any past experience or any suggestions .. Thanks in advance

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My boyfriend is around ,000.00 in debt. He almost signed up with one of those debt consolidation companies online. What they told him to do in a nutshell is to pay them X amount each month and not pay his credit card bills for about 2.5 years, then they would take the money he sent them and "settle" the debt and save him thousands of dollars. This would supposedly work because since he wouldn’t have paid for those years, they would think he was about to declare bankruptcy and be afraid they wouldnt get any of their money, so they would settle for much less. He was guarantted to save atleast 5grand. Has anyone ever tried this and succeeded? it sounds odd to me.

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I’m 29, and my debt is under but probably close to 10K, much of it sent to collection. This debt includes student loans, credit cards, and my bank account balance, which was in the negative and sent to collection. I’ve been ignoring the debt for a while because I currently have no money to pay it off with. I used to be a responsible person with stellar credit until personal problems turned my life upside down. I need to recover my credit and my dignity. What should I do? And do those debt consolidation companies truly help?

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They’re saying they can settle for around 50% or less. But the web address URL ( http://www.americandebtsettlementgroup.com ) doesn’t work, however they are listed in the BBB under this law office: http://data.phoenix.bbb.org/commonreport.html?bid=97015677

Anyone ever tried American Debt Settlement Group? Or any other debt settlement or debt consolidation companies?

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My wife and I are considering bankruptcy. I was wondering if anyone knew of any alternatives to this. Has anyone ever tried any of these debt consolidation companies or something like that and do they work?

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