Debt Negotiation Advice

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.

Public Comments

1. Debt settlement companies are businesses that make a profit by helping people manage their debt. The Consumer Credit Counseling Service (CCCS) is a non-profit organization that doesn't stand to make any money from you regardless of what they recommend. I would recommend starting with the CCCS.
2. Debt settlement companies tend to take your money and sit on it. Their method of negotiating settlement is to let all your accounts go 90 days past due then offer lowball settlements under threat you will file bankruptcy. Many credit card companies are refusing to play and just sue you. If you need help dealing with your your debt, go with CCCS. Here's the website to find a location near you: http://www.nfcc.org/
3. Debt settlement will cause more harm to your credit versus debt management (consumer credit counseling). That being said, you will probably save a lot more money and be in the position to start rebuilding your credit sooner. To find a reputable debt settlement company, the best place to start is the BBB. Look for a company that's not loaded with complaints. You can also fill out a form at some of the resource links below to get matched with a settlement company.