Credit Counseling or Debt Settlement?
Posted by | Posted in Credit Help | Posted on 22-07-2010-05-2008
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You’ve seen the ads: credit counseling companies say they can help by getting your payments and interest rates lowered. Others claim they can get your debts wiped out entirely by settling them for pennies on the dollar. Money reporter Stacy Johnson takes an inside look at these companies.
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Great Video! I am using a debt settlement program with Everest Debt Solutions and in the last 8 months i have almost paid off half of my debt! whoever created debt settlement is a genius.
debt settlement is the obvious choice. if you dont have the money to do, save up for it.
why not just file bankruptcy. When I finished my credit was trashed. Waste of time if you loose your credit rating
So do you mean bankruptcy was good or bad for you?
Good debt help info
Hmmm debt settlement can be paid over time..
Nice Video
either you went through debt settlement or, if you went through a credit counseling agency, you missed payments. all major credit card companies and most credit unions and store cards will help the consumer by bringing the accounts current if they are behind when you enroll in a credit counseling agency. they will also reduce your interest rates and stop charging late and overlimit fees. however, if you miss payments, you negate he help that was given to you. accounts current equals good credit.
Debt settlement is a scam where the company gets rich and your credit is destroyed. FTC is meeting now to outlaw this misleading practice. Check out the facts before you delete this post.
Remember, credit score is a complex calculation which takes into major consideration of your payment history as well as your total revolving debt.
As you pay down your balance being on the program (assuming that you’ll be making on-time payment), you are self reparing your credit. So by the time you finish the program, you will most likey be not only debt free, but have a restore credit.
If you are really thinking about it, dont settle for credit counselling. Deal directly with your bank.. ITS FREE!
but the downside of that is it will be EXTREMELY DIFFICULT.
If you would like to know more about it. just reply to this and i can give you some free advice.
[just a nice guy]
This is a good start to the debt settlement conversation.
There are a lot of unscrupulous companies out there.
I used a company called Consumer Recovery Network that charged me $1150 to settle $130,000 of unsecured debt. It took 6 months and? my final settlement amount was $40,000 or 28 cents on the dollar. Their fee of $1150 was minuscule compared to other companies whose fees were on average $10,000..or more!
I am blogging about it at debtsettlementstory (dot) com
Due to the recession, credit card companies are now offering bail-out programs. To see if you qualify, visit us @ debt-freesolutions.blogspot.com