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I have $64K in credit card debt. Settlement sounds so easy but what really happens as I deposit the $1200 each month for 32 months, will I be sued?

QUESTION CONTINUED- Or is it as these companies promise?..that after first few weeks, I will not hear from creditors and my debts will be settled. Is it that clear cut or could it turn into a nightmare??

ANSWER- Thanks for the question. Nothing is ever as easy as it sounds and you could be sued while in a debt settlement program, however, it really depends on your alternatives. If the $64K is crushing you to the point where the word “bankruptcy” has crept into your mind (also far from easy these days with the new laws), then debt settlement may be a good alternative.

Debt settlement companies come in all varieties. The better ones have lawyers on staff to help deflect lawsuits and help decrease your creditor calls, often significantly. Each situation is different – different creditors are more willing to settle debts than others. Often, debt settlement companies rely on their “working” relationships with the large creditors to obtain healthy clean settlements for their clients.

So, yes, settlement may be a good option for you, however, I stress that you make sure the company you sign up with is large enough to provide you with excellent client support, has strong negotiating power with most creditors, years of experience, in house lawyers, etc.
I recommend such companies through this service.
Best of luck to you!