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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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If I am planning on purchasing a house in 18 months and chose to do the “debt settlement” what are the chances in being able to get a house and with a decent interest rate. I have 30,000+ in credit card debt and I am only 27 yrs old HELP!!!!!!!!

Hello, unfortunately you should not plan on being able to do both. Entering a

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If the debt company holds your money and does not negotiate until funds accumulate what is stopping the creditors or collectors from taking legal action against you? How long is a creditor / collector going to go without getting paid before you end up in court ?

That risk always exists however, going to court is a costly and arduous process for the

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do you know of any debt settlement companies that do not charge a set up fee? i will not pay a company 4000.00 before they settle an account for me. i appreciate your answer

Hello. Unfortunately, I do not know of any settlement company that does not

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The best way to increase my credit score is to pay off my credit cards, +40k, can I negotiate with my creditors to lower my interest rate, who do I call, customer service?

Yes, you will probably have to start by calling customer service and try to get them to

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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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if your $46,00 in debt, is it better to do debt managmement and take 10 years or is it better to do debt settlement and have bad credit for 10 years? Either way? HELP!!

Hello, this is a choice that only you can really make. It depends on what

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AS A WAL-MART EMPLOYEE OF 7 YEARS, I HAVE BEEN CONSISTENTLY BEEN IN DEBT BY NOT MAKING ENOUGH MONEY TO PAY FOR GASOLINE AND FOOD. WITH MEDICAL AND CAR EXPENSES, LIVING IN CALIFORNIA, I FIND IT VERY DIFFICULT TO GET AHEAD AT THE AGE OF 63. SO I HAVE PUT ALL MY DEBT MAINLY ON 2 LOW INTEREST CREDIT CARDS AND HAVE USED A THIRD TO FALL BACK ON WHEN I DO NOT HAVE ENOUGH MONEY IN THE BANK TO COVER MY EXPENSES, BILLS, ETC.. DO YOU THINK I SHOULD GET RID OF ALL MY CREDIT CARDS? RAM

Hello. I understand what you are saying. It is becoming increasingly difficult for many people

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how will debt relief programs affect my credit

It really depends on the type of

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my debt is approx 7500 would i qualify for debt settlement

Typically most debt settlement companies like a person to have

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I have been speaking with a debt settlement company that says month 1 – 3 the monthly payment will go towards their fees, months 4 – 16 1/2 the pymnt will go towards their fees. I understand that the money needs to accumulate before a payment can be made. But, is it common that the cc companies would wait months to receive communication regarding the settlement? I’m confused as to how this works. typically would the agency you choose to work with contact the cc companies up front, or do they wait until the funds are in the account and they go for a settlement amount?

Hello. As I discussed yesterday in answering some questions about debt relief, you will

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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

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I have great credit but am feeling very overwhelmed by all of my monthly payments to my creditors. I am considering debt settlement but am scared to ruin my credit. On average how much will my credit score be affected?

Thanks for the question. Debt settlement is best viewed as a bankruptcy alternative. If your

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can debt settlement companies help with elimination of payday loans? If not, do you know of any program that can assist with this?

Payday loans are very aggressive loans with tremendous interest rates that can be

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what happens to my credit if i file for chapter 13 bankruptcy?

Filing bankruptcy is very damaging to your credit which will have long lasting effects for many

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I am in real trouble. I cant pay my debts and have money to live on.

I suggest you look into all your options using a professional debt relief company that offers

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How Debt Settlement Reduces Unsecured Credit Card Debt

If you read this article about unsecured debt you will understand that credit cards are promises to repay with nothing to back them up (like a physical asset or other collateral). Because of this, they can be negotiated (like any other promise or contract) should the borrower have trouble living up to thier obligations. A more »

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What is Debt Settlement or Debt Negotiation?

Debt negotiation is basically another way to describe debt settlement. The negotiation is typically done by a debt settlement company and entails a process by which they reduce your debt by getting your creditors (the people who you owe the money to) to accept a smaller amount than you actually owe to satisfy your debt obligation more »

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