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I recently signed up with Credit Solutions of America to handle my debt settlement. Now maybe the creditor I spoke to was just trying to get into my head, but I can’t seem to get past the fact that he told me I was being scammed and I would end up owing more than did to begin with and my credit would be destroyed. Is this true and is CSA reputable?

Creditors are obviously on opposing sides with the debt settlement companies so you need to evaluate what they say based on where they stand in relation to your debt. Your credit will be damaged using any debt settlement company, that is the negative aspect to the process but one that many people opt for because:

    1. Their credit is already being increasingly damaged as they fall father behind
    2. They are facing bankruptcy, and need an alternative
    3. They see no reasonable way to get ahead of their debt because it has just gotten too big in relation to their income

I cannot comment on CSA because I have never met with them, however, so long as they are being upfront with you in regards to the downside to debt settlement, then you are probably ok. I always hesitate when people tell me they spoke to a debt settlement company that did not disclose the bad along with the beneficial attributes of a particular debt relief solution.

Debt settlement is not a scam but it is not the best (or most cost effective) solution for everyone. It really depends on you, what you want, your income, your debt, your risk tolerence, etc. So that is why it is so important to do your research on:

1. The best solution for you
2. The best comapny to provide you with that solution

….then you decide for yourself.

I hope that helps.