Debt Negotiation Advice
How Debt Settlement Works Knowledge Base
Will debt settlement ruin my chances at getting a new job? I am going to go through a debt settlement with my significant other as an alternative to bankruptcy. We're both young, and planning on advancing in our careers. Would a debt settlement work against our odds of landing the perfect job, even if we are the most qualified??
How does debt settlement work, and are those who have used it, happy with the results? Do all debts have to go on the plan, or can you select which?
How do I find an honest debt settlement company to work with? If you have had success working with an honest, reliable, authentic debt settlement please let me know
Has anyone actually used debt settlement and it worked? I am considering debt settlement and I am very scared after looking at some of these posts. Has anyone actually used it and it worked for them without a problem? I am currently current on all my credit cards bills, but I don't think I can keep it up and I am wondering if this is an option. I don't want to have to go to court.
Has anyone had any experience with a debt settlement company? I'm working with Debt Settlement USA and they say they can help lower and consolidate my bills to just one payment to them each month. I don't know how to check them out to see if they are a legitimate company.
Okay, I am freaking out and need to talk to someone who has been through the debt settlement process before.? I am currently working with a debt settlement company and right now I would like to talk to someone who has been through this before so I know what to expect especially when it comes to arbitration and trial maybe if I know what is coming I can get rid of this pit in my stomach.
Helpp!!!!!....debt settlement? i need help with my CC debt. how is Debt Settlement work? is it good? "Americandebtcontrol" how is this company, is it trustworthy? Appreciated for answer. Thanks
Has anyone ever used CreditSolutions the debt settlement company? I was wondering if there is anyone out there who has in fact used this company call Credit Solutions, & if so, what is helpful & how does it work??? Does debt settlement in any way ruin or apply negativity to your credit score?? I have excellent credit, but don’t want to risk messing it up by opting for credit settlement. PLEASE ADVISE!!!
Is credit card debt settlement bad for your credit? I am a senior in college, I have no job now as I am finishing school. I start work in June, and I actually have good credit, over 700, and 5k in credit card debt. I've paid my bill in full always in the past until my last killer spring break. Debt settlement sounds cool to cut the debt in half which I would pay off with a lump sum, or should I just stomach it for another month where I can pay it all off entirely in full. Thanks.
Can your employer terminate you if you file for bankruptcy or possibly debt settlement? Negative to organ? Am considering debt settlement but afraid that the banking instituion I work for will view it negatively if known with the bad effect it will have on my credit for the next 2-3 years until complete. Can they terminate you for that? Live in Florida, not sure about differences in state, I know Florida can be unique.
are there any debt settlement companies that are legitimate? I have several old debts at least three years old that have been put into collections...haven't been able to pay on any in years. Looking to pay off but cannot make very high monthly payments so the CCS seems like it wouldn't work since I have SO many creditors to work with and so little money. The credit counseling pays off the whole balance due which has been greatly increased unecessarily. Looking for some debt reduction and a monthly payment option. Is debt settlement right?
Has anyone been sued in a debt settlement program? I'm thinking of going into a debt settlement program and was wondering if anyone has done this and how it worked out for them? Also how hard was it to rebuild their credit after?
Has anyone had any success with "debt settlement" companies? Looking for the good, the bad and the ugly stories for anyone that has had experience with debt settlement companies. I am working with one right now and can't decide whether to continue working with them or file Chapter 13.
whats the difference between debt settlement and debt consolidation and which one is more preferable? i m in credit card debts rite now and my current creditors charge me upto 30 pecent interest what are the best ways to get it worked out for example do u suggest me debt consolidation or debt settlement? which one is more preferred or if there is any pro and cons associated with any of those or if u have any other suggestions ? thanks
Debt Settlements work? I am about to start working witha company but need feedback, www.debtfreeleague.com? Need information about debt settlement companies please
Has anyone used one of those debt settlement companies for your credit card debts? They're saying they can settle for around 50% or less. But the web address URL ( http://www.americandebtsettlementgroup.com ) doesn't work, however they are listed in the BBB under this law office: http://data.phoenix.bbb.org/commonreport.html?bid=97015677 Anyone ever tried American Debt Settlement Group? Or any other debt settlement or debt consolidation companies?
What is the difference between "free" debt settlement counelors and those that charge a fee? I HAVE BEEN TOLD THE SO CALLED FREE CONSOLIDATION COMPANIES ARENT REALLY AND THEY ARE WORKING FOR THE CREDIT CARD CO. IS THIS TRUE? WHAT IS THE BEST OPTION TO PERSUE?
Has anyone ever used debt settlement? I am currently using CCCS of MD and DE, and I pay 750/mo for the next 44 months. I am a student and would like to move back out on my own to pursue school in another state. I do not own a home so those home equity loans do not work for me. I am interested in settlement because I can pay about twice the minimum and be done in half the time (18 months) I just worry about how my credit report will look, and if apartment complexes will rent an apartment to me. I am current on my car, cell phone and the one credit card I am keeping out of my CCCS program.
Has anyone had any experience with Debt Regret for credit card debt settlement? If so, can you tell me your experience and if it worked for you. Have you used another company and had a good experience? If so, who?
Which is the best Debt Settlement company to work with? I'm not talking about debt consolidation or credit counseling. I have over $50,000 in credit card debt at relatively low single digit interest rates for the most part. I got into this mess from being unemployed twice for a total of about a year and a half a few years ago. I am now employed again at a good job, but I will never get out of this debt as is. My credit score is currently about 700, but I am more than maxed out in terms of debt relative to income. I don't own a home and never have, but I will never be able to afford one with the credit card debt I have. I had zero credit card debt before I became unemployed the first time. I also have $60,000 in student loans to pay off. I don't know, I might qualify as non-human. I have a budget and stick to it mostly, and I was always good with money before those stints of unemployment. Right now my minimum payments are just so high that I can't make ends meet, and can't pay off any extra. I can't buckle down and spend any less than I already am. I am already fully buckled down. It sounds like my best option might just to be to stop making payments and let my credit score get trashed, and then try to settle up. I was thinking it would be better to work with a debt settlement company than try to do it all myself. But maybe not.
Which is better? To tackle debt settlement yourself or with help? I am a single mom of 3 with no financial help. I work full time and have a pt time job to support us and get no other help financially. I have about $12,000 in credit card debt. I have not been able to pay consistantly on them in about 6 mos. I want to get the debt paid and am trying to budget to do so. Is it better to try to settle myself or hire an agency to do so?
What do I write on the check for final payment in settlement of a debt? I am working with a collection agency to settle a debt. I agreed to two payments. Before I send the final payment, what should I write on the check? "Paid in full," "payment 2 of 2 for settlement of account 12345," or is there some other legal statement that I can use to show the agreed upon amount was paid in full to settle the debt?
Are "debt settlement companies" better than "consumer credit council service" in handling credit card debts? which service can cause the most harms on my credit? I need to find a reputable Debt settlement Company that I can trust to work with me.
How do you tactfully ask a debt collector for a settlement? I am wanting to pay off an old debt on my husband's credit report. We were unable to continue paying on it due to severe financial hardship. We are now more financially stable, and wanting to buy a house. I used to work as a bill collector, but I don't remember all the specifics. On the credit report, there is an "original balance" and a "past due" balance. I am aware that fees were charged, but I've been recently told that they may be bogus. The account was charged off, also. I want to offer the company a settlement of 30% of the original balance, which is about $530. What I'm wanting in return is for them to report it as "paid". I'm not going to tell them that I'm buying a house, because I'm sure they won't agree to the settlement if they think I really need this off the credit report. So what do you think? Should I go ahead and call and offer this settlement? I realize that it will still say that it was delinquent, etc. But it will also say that we went back and paid on it. That is what my mortgage company wants to be able to show the underwriter! :)
Debt Settlement using Credit Solutions? I'm currently using Credit Solutions (www.creditsolutions.com) for debt settlement. Seems to be working fine. I haven't yet collected enough money to pay off any of the 4 accounts I have in settlement. One of the accounts (with FIA Card Services/MBNA in the amount of $2000) has been forwarded to a 3rd party collector (Creditors Interchange). This 3rd party collector has begun sending notices (that I have forwarded to Credit Solutions) and calling me talking about "arbitration". Can someone tell me exactly what this means? I'm assuming this is part of the settlement process, but is this something legal that could potentially put me at risk for being sued?? What are my options at this point? Is this just a scare tactic....will they really come after me legally for my measely $2k? I fully intend on going through with the settlement, so technically the account is being "taken care of".
Debt settlement on my own - Can I make payments? I understand there are tons of companies out there who offer debt settlement programs. Some sound alright, others have been extremely annoying - after the only thing I really wanted was a consultation and some help understanding the program to begin with, they would not leave me alone!!! (Must work off commission). Anyway, I thought about negotiating with my credit card companies on my own, and one agreed (almost) to a 50% reduction. Sorry this is getting so long, but anyway!!!... How the heck do I pay that lump sum at once? When negotiating on your own, can you also request that discounted balance to be payable over a certain amount of months? Or should I just go ahead with a debt settlement company so I can make payments over 2 or 3 years? If I had a huge $4000 cash wad (like needed for the debt reduced 50%, which is only 2 of my 5 cards) then I probably wouldn't have such a financial problem. lol But I don't have that kind of money all at once up front..so any suggestions!?
Has anyone used US Consumer Advocates debt settlement? Is it legit? Does it work?
Help..Confused Debt settlement or Debt Relief? I am working with US Consumer Advocate on my 76,000 debt on credit cards. Started last week to work for a settlement. For the past two days I am getting calls from a guy at Federal Debt Relief Systems fdrs.org. He promises to do a better faster job then USCA and repair my credit (yea right) and no lawsuits involve or any bad debts turn in to IRS. I am confused! Has anyone worked with any of them or have used a debt settlement co or this FDRS. I feel now that I made a mistake...but at the same time I don't. Please help me!
I am a student with serious credit card debt. Will a debt settlement pro. bar me from getting Stafford loans? I am a student and I will be going back to school soon. I have FINALLY been offered this awesome financial aid package which includes grants, scholarships, and government loans. My only problem is that they require me to go to school full time. This will decrease my monthly income because I will not be able to work as much. I have having trouble making the monthly payments on my credit cards... but I am currently current. A debt settlement program says that it will mess up my credit in the short run, but that I will have better credit in the end once the balances have been paid in full. I need some way to reduce my monthly expenses... and negotiating myself means payments that I cannot afford! I just want to make sure that this would not bar me from obtaining new Stafford loans every year for school.
Will a company write off a credit card debt if you make them a settlement offer? If you owe a credit card company £4,000 and you write to them and offer them a settlement amount of £1568 and ask them to accept this as full and final payment of the amount outstanding and write off the remaining, is this usually accepted? Does anyone know anything about this and how it works? Anyone out there work for a bank who actions this kind of thing? Your help would be greatly appreciated. Thanks
Can anyone recommend a good, reputable and fair priced Debt Settlement Company ? I am a person who has fallen upon some dire financial times in recent years past and now find myself capable of trying to improve my credit history and clean up these unresolved financial matters. I would very much like to know if anyone has had the opportunity to work with a good Debt Settlement Company. Please keep in mind that I am not interested in a company that will set up a prescribed monthly payment arrangement. Rather I am looking for an organization that will agressively negotiate a one time, lump sum, discounted settlement for approximately 10 past due credit card accounts that have been placed into collections. I am really looking forward to seeing what you have to share.
Can you negotiate settlement on credit card debt? I have credit card debt that I have the money to pay off. However, I heard that credit card companies will negotiate a lower amount, say $2,000 instead of $3,000 in order to get the cards paid in full. 1. Is this true? 2. Does this look bad on your credit report? Or does it even appear? 3. How does this work and how do you go about negotiating with them? Thanks for your time!
Debt consolidation or debt settlement? I just got separated from my husband a few months ago and ever since then he has not helped me pay for any of our credit card bills. We owe a little over $20,000 and most cards are unfortunately under my name because I had better credit score than him. One of the creditors started raising up the minimum monthly payment over 200% and the APR went up to 34 and I hadn't even been late on it yet. I have not been able to pay on this particular account for a couple of months now and I've been getting letters where they say they can help me lower the APR and what not but first they want me to pay $1500 to see IF I qualify. Would it be better to do debt settlement, consolidation or should I keep trying to work w/ the credit card company myself? And what companies would you recommend me using if any at all? Help!
Credit Counseling/Debt Settlement or stick it out? We have a lot of personal debt brought on by poor choices and a little hard luck over the past several years. We are all employed (me, hubby and 20-something son) finally and making enough to pay the bills and eat, etc but the "damage" is already done on the 'ole credit report - going from approximately 780 to 511. I will not go the bankruptcy route as I do not see that as a viable option for me, however, my question is, since the FICO # has fallen so low now, should I just go ahead and go w/ debt settlement company to help me get these bills paid off or continue with the "snowball repayment" plan I worked out for us. In the past 5-6 months, I have already paid down $6000 in debt using the snowball but I did see an $11 K charge-off by a creditor appear on my credit report this month so, that pretty much sinks the ship so to speak. Thanks for your good advice!
what is the effect (on credit history) of settling a debt with creditors? I am trying to settle my debt (from credit cards) with two creditors. I am a complete ignorant of how these works. Please help answering the following : 1) Is settling better than bancruptcy ? 2) Are there different types of debt settlements ? 3) Does it make any difference if I settle with the Bank or with a collector ? 4) how do you compare the effect of settlement vs banckruptcy on credit history ? 5) Is auto re-possesion equivalent to bankruptcy ? Thank you...
Bankruptcy vs debt settlement? I have been trying to eliminate my credit card debt. I have managed to pay off 2 cards, I am currently working on a thrid, but I have 3 more with high balances, about 20,000. My husband wants me to file bankruptcy. Should I continue with the settlement or look into filing bankruptcy? Thanks
Please help with, Credit Card Debt Negation Settlement Or Other options? Seeing a friend fall deep in debt in no time, I like to help him, get an idea of what his options are - Bankruptcy or Settlement. He made huge debt (over 50 thousand) to 4 major credit cards while in New Jersey. Since Feb 2006, he has no job, no nothing ... literally nothing, stopped paying, moved out of state, no contact with creditors or response to court orders. (A lot happened with other cards). Now, Card-1: With Original Creditor Principal 10K. With penalties 15K Card-2 Been sold 3 times and with an outside recovery company. Principal 19K. With penalties 27K. QUESTIONS: We understand Bankruptcy may be best option… its apparent it’s quite easy in his case. BUT please advice on the below. 1) In this scenario, how much these agencies would agree for one time payment? 2) How should we proceed OR should we hire an attorney to do this work for us? 3) Are there any better options such as consolidating? 4) Plz recommend attorneys, consolidators, any thing. Big Thanks.
Does anyone know of a good Debt Consolidation Company that works with people with bad credit? I have a good amount of debt from College, and an ex that dumped a bunch of bills on me. I have a great paying job now, but got suckered into a debt settlement company that basically ruined my credit and stole my money and did nothing to help with my debt but just ruined it. I am looking for a debt consolidation service that I can use to pay off my debt. I have a great paying job and have been good with paying off other bills/car/cards in the past, I have just fallen behind on a couple of things and really need it sorted out.
Debt settlement and taxes? I went through debt settlement last year, paying off $25k for $10k. I learned AFTER doing this that I will get hit with a tax bill. Lovely. Today a 1099 arrived from one of the banks for the 10k they forgave. Someone at the settlement company told me I can work around this with a sharp tax preparer. At this point I'm wondering if I can trust them. So, can a tax preparer help me get around this mess?
Does anyone knw approx. how much it costs to claim personal bankruptcy in Missouri w/20/30000 in debt? Just need a ballpark figure to work towards. I don't even know for sure how much in debt I am everything is in such a mess. I know it is at least 20,000. I live in Missouri and I have no money to work with debt settlement companies. I can barely keep my utilities on. I barely have a place to live for now. I need to do something or just give up and I am not a give up type of person.
Debt Settlement? I have worked with consumer credit counseling for over a year now and I currently was paying over $1,500.00 a month to cover bills, unfortunately my husband is off work and will be for some time because of a work injury which workers' comp denied. He is scheduled for 2 surgeries and I am seeking some form of disability. I will be down to one income, I have four children, I am thinking about doing debt settlement since we owe $75K and I am the only one working with no other income coming in, please advise me if these programs work, I cannot file bankruptcy. Please help me.
Debt Settlement program startting tomorrow...what should I expect? To make a long story short, I have managed to bury myself with almost $70,000 in credit card debt I did not want to file bankruptcy. I have been able to pay around $1,500 a month towards credit cards consistently which usually cover a little more than the minimum payment. I was doing the math and even with getting interest lower this is going to take me anywhere around 8-10 years. So I decided to join a debt settlement program that allows me to pay $1075 a month for 36 months and it will get me out of debt by settlement. I have never been late on anything before but this month I have been advised by the company I decided to work with to stop paying the creditors. Does anyone know if the debt settlement companies send pfd's or are they just trying to settle and get their share? What are somethings that I should expect to happen to my credit in the next 3-5 years? Does anyone have any success stories about settling their debt? I am just trying to sleep good at night with this decison.TY
should i do debt settlement? My husband and I have some debt.The accounts are more then 6 months behind.Now my husband is gettin a big bonus from work that will cover most of our debt but we would have no money left over afterwards.Would it be more logical to do a debt settlement to try and save some money or just pay it all off myself and have no money left over? thanks!
Cred card debt settlement.? Is it ture that I can call my credit card company and negotiate a debt settlement witch will reduce my debt with them? How does this work and how do I do it. I have a 5000 dollar debt with this card and it hasnt gone down at all with the payments Ive been making. Can i request a lower intrest rate too? Help
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