Debt Negotiation Advice
Debt Negotiation Knowledge Base
What debt negotiation company would you recommend? We are looking for a company that is legit and fair.? We are not looking for loans or banks.... and would prefer if the answers came from people that actually used a debt negotiation service.
do you have to pay taxes for debt you got wiped out with debt negotiation? i read that if you saved more than $800, or something like that, with debt negotiation, that it gets reported to the IRS and youre liable for paying taxes on it. is this true? if it is, whats the benefit, then, of doing the negotiation if youre going to have to pay 30%, or so, on taxes? i dont get it...
debt negotiation? any reliable companies you know of?
Has anyone heard of debt negotiation companies? Do they work and are they legitimate. How will effect credit? I have spoken to one of these companies who has advised they will be able to negotiate my debt down to approx. 40% of original debt. There has been a major event in my life that does not allow me to continue normal payments. I would prefer not to file for bankrupt.
Does anyone know where I can find samples of debt negotiation and settlement letters to send to my creditors? I have charge-off and collection accounts listed on my credit report that I am willing to pay, but I want to send letters to each creditor so that they can agree.
Where can I find the best debt negotiation solution? After almost 2 years of paying Consumer Credit Counselors in a debt managment plan, we will no longer be able to meet their required monthly payment amount. I believe my best option is to stop paying credit card debt to them, pay my property taxes (they are behind) and essentials, and let my accounts go to a debt reduction negotiator. Where is the best place for me to look? I am interested in contacting you Brooke, but I do not have contact information. boxbeatle@yahoo.com
what is a great debt negotiation program that can help me with my credit card debt?? I'm currently in a debt consolidation program but it's not helping me at all with my debt. They charge me $40 a month just for their services and my debts are still the same as when I first started the program 6 months ago. Help me please!!
Which is the better option in regards to reducing debt: debt consolidation or debt settlement (negotiation)? There has been considerable debate between two specific debt reducing options: debt consolidation and debt settlement (negotiation). I'm trying to decide which is the best option to select if one wants to reduce their financial debt (specifically credit card debt). I'm sure there's pros and cons to both options, however which is more effective? Please advise.
if i signup for the debt negotiation program, which amount will be the right base for calculation? I am confused, and I have a question. The original debt I had from Bank was $10000two years ago when I stopped payment. And the collector claimed that it is $16000 with interests(I asked the breakdown but they never provided). If I sign up for the debt management program, which amount of debt I should based on? 10000 or 16000?
Where can a consumer find a letter to mail to a debtor to initiate a negotiation for a debt settlement? letter to settle with a debtor for a lower amount to get out of debt.
Where can a consumer find a letter to mail to a debtor to initate a negotiation for a lower debt settlement ? Such as a letter to settle with a debtor for a lower amount to get out of debt thanks Couldn't find one on dogpile.
Looking credit repair/debt settlement negotiation service? I have collection ($3000 rent 2004) and late payments on my file.
Is Debt Negotiation viewed as a Chapter 7? My friend is worried that if I choose Debt Negotiation/ go with a Credit Counseling Service, that when it is noted on my Credit Report as "in negotiation" that creditors from here on out will view it the same as if I had filed for a Ch 7 bankruptcy? Any truth? How do creditors view CCCS on your Report? Also heard that this stays on your credit report for 3 years after you cancel or pay off the amount????/ I'm really leaning towards using a CCCS, but now am worried of the repercussions? Oops, now I realize I meant Chapter 13. I just rec'd this info from curadebt.com: First, there is a program where you consolidate your accounts into one payment. It is also called consumer credit counseling. This has been around for over 60 years and is a program where you are making payments on a monthly basis. You do pay everything in FULL WITH INTEREST. Many lenders look at this type of program as a CHAPTER 13 BANKRUPTCY. This is because you are making payments through a third party.
Can I get out of Debt Negotiation program?? After my graduation I had 12000 dollars in creditcard bills last year //Due to lack of a proper job I went behind payments for 4 5 months and it wnet to colections .. to avoid the harassing calls i joined one of the debt negotiation programs..I payed of only 3000 worth so far and payed over 1000 dollars in fees and around 500 dollars in commision.Now I have a decent job and and can pay the rest of the loans in 6 instalments easily ..Now can ido it on my own bypassing the company ... I am doubtful if they are even trying as they promised as the ynever answer mycalls unless there is an offer and sometimesare more rude than the credit collectors ..Please help me I know I screwed up my credit for 12000 dollars but days were bad ... Now I am ina positin to pay off the loans either in full or atleast the negotiaeted amount and I dont want to deal with the people who are charging such high fees and wont answer my calls.My problem is there were 6 cards with imit ranging from 1200 to 6000 $
Negotiation tips for debt settlement? I'm about to negotiate with a collector on a debt. I want to either make monthly payments or a reduced lump sum. What's the best thing to say to the collector (without blatant lying) that'll make the collector more agreeable? Also, what is the best time of the week or day to call?
Tips on debt negotiation.? I have several credit cards that are more than 6mo. past due. Several credit card company's have offered a 40% settlement. Is that a good deal or can I negotiate a lower %?
Has anyone ever used this site ? my-negotiation-debt.com? I am having financial troubles. I saw this sight and would like to know if anyone has every used them and can help me with my concerns. They say negotiations are better than consolidating. That consolidating your debts is just as same as if you would declare on chapter 13. Is this true? They run your credit report for free if you say in a recording that it is being done with the purpose of purchasing a house. Is this liable? They say they work with B&D real estate and that is why you have to say the report will be used for the purpose of purchasing a home. I am very concerned about giving personal info by phone.
taxes when you get credit card debt negotiated down? Do you have to pay taxes for debt you got wiped out with debt negotiation? i read that if you saved more than $800, or something like that, with debt negotiation, that it gets reported to the IRS and youre liable for paying taxes on it. is this true? if it is, whats the benefit, then, of doing the negotiation if youre going to have to pay 30%, or so, on taxes? i dont get it...
As anyone had a career as a "debt negotiator"? I read about it and it sounds good, getting commission on cutting someone's debt in half, etc. the company wants $500 for the materials to start up doing it...is it legit? Has anyone checked into this debt negotiation career?
What you guys think about debt Settlement/Negotiation Programs? I have like 40K credit card bills and want an easy and quick way out of them. I also need to keep my credit in a good shape so i am looking for a program to work with to help me to get red of debts. I interviewed a few debt settlement companies ( http://www.cydebt.com/home/homepage.shtm) and they told me that they can reduce my debts to 15K and wouldn't mark my credit. So what is the disadvantage of these companies and why everybody thinks that they're rip off. I also can't understand one part... what's will my creditors do if i don't make any payment?
debt negotiators or chapter 13 bankruptcy? i'm thinking to hire a lawyer to do debt negotiations because i absolutely cannot keep up with my bills. i think i would have to file chapter 13, which you still make payments to the creditors. this seems to be like debt negotiation, but without the bankruptcy label, so it seems better to debt negotiate route. any helpful opinions would be great. thanks!
which is worse for credit, bankruptcy or debit negotiation companies? talked to a company that "helps" with debt, decided on negotiation which means that I pay into an account with the company and they wait until my creditors have gotten to the point that they are willing to negotiate to settle the debts to pay them off. so all of the credit cards will basically go to collections and this is all going to be done over a period of 3 years so it is going to trash my credit. should I just file bankruptcy and move on? which is worse?
Are there any law firms that handle debt settlement / negotiations versus debt settlement companies? I hear that debt settlement companies are rip offs.
name of government agency that offers debt relief ? I heard a part of a radio show on getting out of debt. and the speaker gave the name of a government agency that offers a program w/o filing for bankrupcy or debt negotiation . it was stated to be offer at a interest rate of 3%. any help would be greatly appreciated
The debt relief company cancelled what do I do now? Last may we decided to consolidate our debt and made payments to a debt relief company who would begin negotiations as soon as we paid the finance charges. Never got that far b/c our state passed law that said they could not do business with us, we got refunded. In the meantime we have been turned over to collection agencies, should I negotiate with them on my own?
Looking debt settlement service? I have collection ($3000 rent 2004) on my file. I want fix it. Can you recommend good debt negotiation service? Sincerely, Euge
hospital debt lawsuit? A hospital filed a summon against me for $6565 + their attny's fees. I think that bill is way too excessive and unreasonable. I represented myself in court a couple of months ago for a hearing, and now the case is set for trial. I planned to stipulate with the plaintiff's attorney (hospital) for mediation, but I don't think I have time. I contacted a couple of debt negotiation service. One company said they may be able to settle the case by contacting the provider directly and hopefully reduced the charges claimed by 30-40%. Then my fees to the company is 30% of what is saved. Does anyone have any suggestion regarding this. I'm looking to make payments but not sure if that is possible. Please advise. Thank you.
Credit Card Negotiation vs. Doing Nothing? I currently have over $25,000.00 worth of credit card debt from medical bills due to an auto accident that happened a couple years ago. The accident is going to be settled within the next year since I was not at fault, so I will eventually be able to pay off the debt completely. I have contacted the cc card companies to see if they'll lower my interest rate--no luck. However, I heard about a company that will negotiate my debt with the cc companies & will lower my debt up to 60% (for a fee, of course). Therefore, my monthly cc payments will go down & I will owe less money overall. The downside is that this will ruin my credit rating & it will take 6 months or so to fix it. Would it be better to do nothing & wait for the settlement to pay off all the debt at once & not mess with credit rating recovery (I want to purchase a home after the settlement)? Or should I do the debt negotiation & go through the process of rebuilding good credit again? Thanks! (Only serious answers please) By "do nothing", I mean still pay the minimum payment every month, but not negotiate the debt with the company. Sorry about the confusion. I am not going to file for bankruptcy. From what I've seen, this is the worst option for me (other than not pay even the minimum payments). I've seen that it can take 10 years to establish good credit after a bankruptcy.
I have $20,000 in debt? I have 20,000 in debt and I was wanting to do debt negotiation. I was wondering if that is all they say it is. I also wanted to know the best way to pay off this debt. I have switched all my cards to 0% and I put all my tax return $ down every year. Ive only had this debt for two years due to legal fees that Ive gotten into. I want to have it payed ASAP but Im on a budget.
I have recieved summons over a credit card debt. Is trying to negotiate a settlement my best option? What are my chances of settling at a lower amount? With over 25% in interest the amount is over $8000. What would be a good target for negotiation? Also the lawfirm involved is about 4 hours away from the court location. If They don't show up, can this be dismissed?
I need the names of some trustworthy companies that offer Debt Management Plans? I will not qualify for government grants. I cannot get another consolidation loan. I do not want to use a debt negotiation service. My credit is good right now. I have paid all my bills at or above the minimum on time for over 7 years, and any blips on my credit have just recently "dropped off" my credit report. However, I am struggling, and things are about to get worse for me, and very soon I will start to be in the negative. I need help that won't ruin my credit score I have worked so hard to repair. If you have used a Debt Management Program and did not have to pay any additional fees, nor make any payments until all of your creditors accepted you into the program, please pass the name along to me.
What to do with credit card debt?? I have a about $8,500.00 credit card debt. I can't afford to pay the minimums anymore and was thinking about contacting a debt relief company that will negotiate with credit card companies for me, during the negotiations I don't pay the credit cards should I pursue this option or should I just go with partial payments and keep on accumulating fees without reducing my debt? Please help me make this decision.
Please send me your thoughts on going into a credit negotiation program.? What about those over exposed credit companies that promise you to eliminate your credit card debt by entering thier credit negotiation program? Seems to me that you put your life and credit history in their hands with no garantee. Anyone has participated? I have "mid sized"credit card debt BUT no bad credit. Pay ontime. Only Problem: monthly payments are killing me. What is the truth on dealing directly with credit card companies?? Please, can anybody share ideas and experience? Tks
I know that i am a stranger, but would anyone mind lending me $850? I have every intention of verifying who i am by any means. I don't expect anyone to just lend me the $850 without me giving them ALL of my real information. Just in case anyone was wondering; i am not some bum looking to scam off people. I work hard for everyday. I am sales rep for a debt negotiation company. I do volunteer work throughout the city and love helping people in general. I am just in a tight spot right now because i kind of promised my nephew that i'd get him a laptop for his birthday which is on the 15th of this month but i'm just all tapped out right now. I will give $1,200 back in 2 weeks to the person who decides to lend me the $850.
How can i raise my credit score if i have 6 accounts in collections and i am paying on a student loan? ...it seems like going through a debt settlement, or consolidation, or negotiation is something I can do on my own, i'm just not sure if this will raise my credit score if all my accounts are 2 years past due and I have no current open accounts. I can't even get approved for an unsecured credit card to boost my credit score. Please Help!
I have an item on my credit report that is for the wrong dollar amount, should I contest it again? I do owe the debt and will pay it, but my credit report is stating the wrong amount. I sent out a debt validation letter and recieved back my debt amount but it is for about 50% less than what is in my CR. What should I do? Contest it again or just contact the debt collector and start my negotiations? I don't want to get stuck with the other 50% after I pay them off.
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