I am currently enrolled in a reputable debt settlement company about a year into the 3 year process. One account has settled so far. One of my creditors is suing me, but the company is working hard to get it settled asap and I have responded to the court. I am not ignoring the summons just in case we can’t settle. I just want to know if anyone has gone through this process and cleaned up their debt for good. It is so stressful, but we were on the heels of bankruptcy and felt this was a good option for us to avoid bankruptcy.
My daughter has just finished "debt settlement" after 3 years but don’t try to buy anything involving credit because it is "SHOT". She wanted to buy a car, not new, but had to many rejections. I bought the car in my name over a year ago and she makes the payments to me and then I pay the bank.
My father had a saying long before there were credit cards: "If you can’t pay cash, you can’t afford it and you probably didn’t need it anyway"
I never charge anything that I can’t pay off in 2-3 payments. Preferably in one.
yes
References :
I’ve known people that have done this on there own.
Settling and dealing with creditors is common knowledge
It’s all in books.
There are some pretty amazing books at the bookstore
They teach you how to negotiate, settle, reduce payments, reduce interest, etc.
Like a pro.
If you ever get tired of paying this company money to do this for you – consider a good book.
On Credit and Debt Repair.
/
References :
Deliberately defaulting on credit cards to attempt settlements will always be a risky tactic…There are times when the process works and all the creditors settle without taking legal action. In the end, it’s rolling the dice with your finances…this is why I always advise people to stay away.
References :
My daughter has just finished "debt settlement" after 3 years but don’t try to buy anything involving credit because it is "SHOT". She wanted to buy a car, not new, but had to many rejections. I bought the car in my name over a year ago and she makes the payments to me and then I pay the bank.
My father had a saying long before there were credit cards: "If you can’t pay cash, you can’t afford it and you probably didn’t need it anyway"
I never charge anything that I can’t pay off in 2-3 payments. Preferably in one.
References :