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Archive for August, 2008

I have eight accounts in which i want to settle. One settlement company has given me a 60 month option.Will these credit companies actually wait that long with no payments while they are wating for settlements.

Hello, standard practice is to not stretch the settlement process beyond 3

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I owe 19,000 on one card at 2.99% fixed, 54,900 at 8.7% fixed and two cards with about 4500 each at about 4.9%. I have excellent credit and can make my payments. My question is what can a debt settlement company do for me?

It sounds like your rates are excellent so unless you are unable to

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I am drowning in credit card debt because i became disabled and had to use credit cards for daily expenses, medications etc. I have over 100K in debt other than my house and have wiped out my savings and retirement accounts. I draw Social Security now. Is there an answer besides bankruptcy?

Hello, sorry to hear about your situation. Unfortunately, it is all too common these days given

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hello, I’ve seen where so many debt settlement companies say ‘if you owe 10K or more……’ I owe $9812.00 today in unsecured debt. What changes at $10,000? thank you for your help

Good question. Most debt settlement companies use $10,000 as their cutoff point

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I need help paying my “payday loans” what is the best solution for this debt?

Unfortunately payday loans are not covered by debt settlement or

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I have been working with a debt managment place who now tell me I should file for bankruptcy because I have too much debt to pay the monthy payment in 5 years at 1195. I was ready to start making payment next week. What is going on?

I am not sure. I suggest you speak with the company you are working with to get their

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The Debt Settlement process sounds too good to be true. I am being told that I have to wait for my bills to go into collection and be sold by the initial company to a collections firm before they can be settled. The thought of that scares me because I don’t want to get embarrassed with Garnishments ect. Does that make sense to start paying into a trust fund and ignore creditors until the Debt Settlement company can get involved?

Be careful of anything that sounds “too good to be true” especially when it

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I have been talking to two companies about my debts. They differ concerning my credit union’s unsecured debts: a VISA and a personnel-signature loan. Both agree that the loan is not qualified for the debt settlement program. The one company says that I can include the VISA with other cards in the program. However the other company says that I can not include one debt and not another from the same institution: I have to payoff the loan before the VISA can be included. Who is right?

Hello, I cannot give you a definitive answer to this question because there are a lot of

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Doesn’t it reflect on your credit score even if you are able to negotiate with the creditors yourself?

The reasonj why your credit score is adversely affected in the debt settlement process is because

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