It seems like they dropped the ball. Can I stop paying the blance of the service fee and negotiate with the creditors by myself? or the debt settlement company still have the right to sue me or something?
I work for a debt settlement company, and I’m very curious as to the impact of this to our nations economy. Do you think we are making things worst by negotiating debts? Do you see this industry going down anytime soon?
What are the effects of debt settlement to our nations economy?
Can you settle debt with a credit card company even in good standing?
I am making minimum payments with a few credit card companies but could have trouble paying these in the future. I don’t want to go through a debt consolidation company or a debt settlement company. Is it possible to call on my own and warn them I will file for bankruptcy and ask to settle before I stop paying for 30-90 days like most experts say? Can someone give me their advice or opinion on this? Thanks
A few month’s ago, I started working with National Debt Relief to settle 2 credit cards….1 with Discover and one with Citibank.
I have had no issues until the other day, when someone from Citi called me to say they don’t work with debt settlement companies.
So, I have my debt settlement company telling me "don’t listen to the creditors, they are just trying to scare you", and then I have Citi telling me "don’t listen to the debt settlement company because they take your money and never pay us…a law was passed last year that we no longer work with debt settlement"
When I first enrolled into the settlement program, they said they did work with both banks, I had to provide my statements and they seem completely legit. I have a certain amount of money automatically being deposted into a trust account with the settlement company uses to pay off attorney fees and my creditors over a specific period of time.
How do I determine who is telling me the truth, and if my debt settlement isn’t working, what do I do with Citi? They did send me a letter asking me to settle…so what’s the difference if I settle through debt relief vs. settling directly through me?
If it helps, Discover has contacted me and is aware that I’m working with debt settlement and seemed more than okay with that. and they both sent me letters to settle for less than what i owe. it isn’t very much debt at all….just what I couldn’t pay off from my old lifestyle, after I had to move across the country and take a job making much less than i had before.
In June I enrolled in a debt settlement/consolidation plan with a company. They said they would settle my debts and as long as I was putting the money aside I was supposed to then everything would be fine. They would be contacting my creditors and I should no longer talk to them. Well that is all well and good until I am contacted by an arbitrator and a law office. My accounts were fast tracked to arbitration when they found out the program was in. Each has offered me a settlement but I can’t afford it without a loan. I have perfect credit except for these two past due credit card balances and that is preventing me from getting a loan. The law office said I could make payments, but they would be nearly 00 for six months. There is absolutely no way I can afford that. What can I do? I’m really scared because I thought I was doing a a good thing and ended up in a terrible situation.
I have contacted the debt settlement company and they keep saying I’m not even supposed to talk to the attorney. I am so scared of them taking me to court though. I am putting the correct amount of money aside each month. The attorney’s office told me to go to ripoffreport.com and look up debt settlement companies and I found a lot of other people in this situation.
Has any ever, or know if you can, dispute charges made by a debt consolidation or debt settlement company. they refuse to refund my money because I signed a contract, even though they did not perform the services in which I was paying for. ANY HELP HELPS!!!!!
Has anyone gone through a debt settlement company to resolve their debt?
So what is the difference between a CCCS and a debt settlement company? What are some pros and cons of each.
Hello,
I know someone in tremendous debt, greater than 75,000. For Christmas, I would like to give them the gift of some kind of consultation with someone who can help, something like a debt settlement company or a credit counseling company, something like that. This is, it HAS to be something good/ high quality, and in Brooklyn, NY, or perhaps in Manhattan as a last resort. Any help will be GREATLY appreciated!
thanks!
I have to deal with my credit card debt..it went over to the collector called unifund. does anyone know any good settlement company that i can trust?
thanks guys! great help!!
mind you, when i googled "Consumer Credit Counseling", there are so many sites, which one is it?
I’m about 40,000 dollars in credit card debt and I’m thinking about enlisting the help of a debt settlement company… but I don’t know what to expect. Help.
Like most people, I also have my debts to pay after graduation. I am a fresh grad and the government has been asking me to pay my loan even before I get the chance to earn my first paycheck. Is getting the services of a debt settlement company a good option?
I checked out this site, any advise? http://www.creditdebtsettlement.com/defaulted_student_loan_relief.htm
I have been talking to a debt settlement company. It sounds like a good idea but I have read a lot of negative feedback, to use a company to assist me, saying they do nothing but collect there monthly fees. Please let me know if anyone has any experience of insight.
which service can cause the most harms on my credit? I need to find a reputable Debt settlement Company that I can trust to work with me.
This past year we settled on two credit cards. I am not sure the exact amounts as we were going through a debt settlement company. Anyway, I am wondering when the two credit card companies have to have our 1099 to us for our taxes. If they don’t send us one do we have to claim it on our taxes? When is the deadline for when they need to have it to us?
I have a debt settlement company and need a processor that does not charge any fees. Thanks for the help.
I have a debt settlement company and need a processor that:
Does not charge any fees.
Uses Attorneys to settle the debt.
Is compliant
Thanks for the help.
Has anyone who has been in major debt ever used a debt settlement company before? Who did you use and how did it go? How long did it take to get out of debt and did it help your credit in the end?
I have read alot and heaard from others about debt settlement. Is it best to check with my debtors directly or to go through a debt settlement company? Any of these recommended? Also, if I am paying on credit card bills, but cannot get ahead, will a company talk with me about debt settlement?
I owe 13,000 and hired a debt settlement company. So far, they have done nothing but drag out my judgement for almost 2 and 1/2 years. I don’t deal with the lawfirm so it’s less stress on me. I am thinking maybe it is more beneficial to try to make a settlement on my own. I am wondering if these debt settlement agencies gain a commission off of my settlement, anyone know?
I understand there are tons of companies out there who offer debt settlement programs. Some sound alright, others have been extremely annoying – after the only thing I really wanted was a consultation and some help understanding the program to begin with, they would not leave me alone!!! (Must work off commission). Anyway, I thought about negotiating with my credit card companies on my own, and one agreed (almost) to a 50% reduction. Sorry this is getting so long, but anyway!!!… How the heck do I pay that lump sum at once? When negotiating on your own, can you also request that discounted balance to be payable over a certain amount of months? Or should I just go ahead with a debt settlement company so I can make payments over 2 or 3 years? If I had a huge 00 cash wad (like needed for the debt reduced 50%, which is only 2 of my 5 cards) then I probably wouldn’t have such a financial problem. lol But I don’t have that kind of money all at once up front..so any suggestions!?
I have ran across several such as premier financial, freedom debt, and credit solutions. They all seem to be scams. Has anybody had a positive experience with any debt settlement company?
I would like to know if anyone has used Precision or another settlement company and how it went. Please if you’ve used one, answer. As a person who has gotten into too much credit card debt paying for school and moves, etc. I need to do something so that I can be able to pay my bills. I’ve exhausted many options. If this doesn’t work, I feel I may have to declare bankruptcy.
Please do not respond if you have nothing helpful to say.
Can anyone tell me if I can terminate a contract with a debt settlement company and not have legal issues with the company.
I was thinking of signing up with a debt settlement company but I have heard the debt settlement companies not what they seem. They promise to settle your credit card and unsecured debt for half or less than what you owe. I have heard what they don’t tell you is that you usually get sued, get your wages garnished, and that the debt settlement companies over report what they actually save you while charging you a huge fee. In addition, I have heard that your savings are reported to the IRS as income and that your credit report is trashed. Supposedly their seemingly caring sales people are paid high commissions. Apparently you can negotiate with your creditors and be just as successful while saving the thousands of dollars these companies charge you. What I want to know is if all that is really true about these companies and can I actually negotiate with my creditors myself and save thousands in fees. I need the scoop from someone that is honest and knows the truth about these companies
does any body knows a goo debt settlement company. i will appreciate any information.
I am making minimum payments with a few credit card companies but could have trouble paying these in the future. I don’t want to go through a debt consolidation company or a debt settlement company. Is it possible to call on my own and warn them I will file for bankruptcy and ask to settle before I stop paying for 30-90 days like most experts say? Can someone give me their advice or opinion on this? Thanks
I am in debt from helping my son when he was off work. Helping my elderly father. Also, my ex-husband was fired from his job and now we are divorcing. I am in so much debt that I am far behind on payments and I make too much money to file a chapter 7. I would have to file a chapter 13 and pay back a portion anyway. Would a debt settlement company be a better option?
Can someone please let me know the name to a credit card debt settlement company that does the right thing.
People state that a debt settlement company helps people in all their debt issues. What kind of debt settlement companies should we prefer?