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Archive for December, 2007

not a question but just an experiance today, if a customer service agent does not give you satisfaction, call back and talk to another and another, eventually, i have discovered this, you can reach someone with some smarts and compassion. i got my capital one interest reduced from 27.6 to 14.9 by calling back and speaking with a different person.

Good Advice. Thanks for sharing it!

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What is your opinion of Dave Ramsey’s approach vs. debt settlement?

This is a good question. In my opinion, the two options are for two totally different

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I have been on Long Term Disability and now SS Disability for 3 years. We have tremendous debt from too much travel and college educations. I need to know if it is better to pay off the debt by refinancing our home. some of the CC interest rates are lower than our mortgage. We have excellent credit and I have paid down a very large cc debt from $54,000 to 17,000 in the last 3 years. However we still have several other cc’s with debt. We plan to purchase my husband’s home when they move into a retirement home in the next 2 years. Is it better to keep paying down the cc debt that is unsecured or would it be better to refinance keeping it at the same term of 10 years left and pay the larger payments on this secured debt. I believe that is probably the answer, but obviously my debt worries me constantly.

First of all, congrats on your ability to pay down your credit card debt, that’s impressive. Assuming you

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Hi is me again. I actually joined the US debt resolve for 3 months. And last week i have been receiving calls from law firm / collection companies. And i just received a letter from the law firm. I am so afraid I will get sued. I told my debt analyst, he said they will take care for me. and don’t worry. I am very worry…can you tell me if I am ok. I am so afraid I will get sued. thanks!

Hello. I suggest you keep in close contact with your debt relief company as you are

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How do I evaluate the BBB ratings of debt relief companies?

The BBB ratings of debt relief companies are all over the map and in some states it is seemingly impossible

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Hello Scott. What do you know about the Fairhaven Law Firm? I was about to sign with them & discovered they used to be ydebt and closed down had a F with the BBB.

Hello, no I am sorry but I have never heard of that firm. As with any company

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how does joining a credit card counseling service that helps you lower and stop your credit card fees affect your credit once pay everything off?

Your credit will be affected negatively by entering into a credit card counseling service but

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I am overwhelmed by my credit card debt. I am still able to pay my minimum payments plus some to the principle of the card. I am not making any headway and have already cut up my credit cards. What is the next step that I should take.

You have already taken a huge first step by cutting up your cards. I assume you already

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Hello Scott, I have 48k in unsecured debt and cannot continue to keep up with the payments. My spouse is a real estate agent and has not closed a deal in 6 months. We had planned on making a move in 2 years. Is is possible to use a debt negotiator and payoff what is settled in 6 months (if i can afford it)? Will any mortgage lender lend us money to purchase a home within 18 to 24 months once we have completed a program? Thanks! Ken

Hello, this question is really more of a mortgage question and the answer

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do all debt settlement companies require you to have a special settlement savings account? What are the pros/ cons ?

Most debt settlement companies tend to ask clients to pay into a 3rd party trust account. By doing so

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I have negotiated my own settlements successfully with both BOA and Chase for $57k in balances. What is goin on with Discover and what is the best way to negotiate with them? Should I just let it go to collections? They are saying that they are not offering settlments at this time and their customer service reps are not sure why. The balance is $16k. Thanks much.

To be honest, creditors alter their official position on settling debts as often as they

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Can Private Student Loans be in a Debt Settlement Program

Debt settlement companies do not take on student loan debt (at least the ones I know). They stick to negoatiating credit cards, some medical bills, and personal loans.

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