Debt settlement company

Date: Wed, 04/20/2005 - 15:05

Submitted by anonymous
on Wed, 04/20/2005 - 15:05

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Total Replies: 3

Debt settlement company

Two years ago I signed up with a debt settlement company. They agreed to take $200 a month from me to accumulate an account of which they could use to settle with my debtors. I have over $3,000.00 in my account and they have only settled one small account of mine. The debts keep getting referred to new collection companies and my credit score is horrible. Every company that calls me wants to settle with me and says that the Debt Settlement Company never returns their phone calls. Is it too late to sign up for debt management at this point? These accounts have not been paid on in over 2 years.

Hi ladybug34 It is very necessary to decide wisely while choo

Hi ladybug34

It is very necessary to decide wisely while choosing a debt settlement company at the preliminary stage. Making a wrong decision at the beginning will have a bad impact all through out the program.

Quote:

Is it too late to sign up for debt management at this point? These accounts have not been paid on in over 2 years.

Signing up for debt management will put you in a much comfortable position in comparison to the present stage. You can go through this article for your extensive knowledge at http://www.debtconsolidationcare.com/debt-management.html I will advise you to register yourself with this company so that you make the first step to manage your debts. There was a time when I was in a complete mess managing my finance and one of my friend referred me to this site and ever since then, my condition has been improving each single day.

Do keep in touch
Regards
Roxette

lrhall41

Submitted by roxette on Wed, 04/20/2005 - 15:43

( Posts: 4009 | Credits: )

Hi, Your experience reminds me of a debt settlement article t

Hi,

Your experience reminds me of a debt settlement article that I read recently. Some settlement companies charge monthly fees but they don't pay your monthly bills. They wait until there is enough money in your account before they pay your bill off in one lump sum.

Also, they don't tell the creditors to stop all interest and late fees from accruing. So while you are trying to build your account, your debts will continue to grow at the same time. This is very dangerous and can trap many consumers with many years of debt.

I suggest that you contact a lawyer and try to get out of this dangerous agreement. it is obvious that it is not working for you. it is actually digging you into a deeper hole.

I also suggest that you find a consolidation company that can help you fix this situation in a more effective manner. And before you sign on with any consolidation company, make sure you do plenty of research on the company. And make sure that you are fully aware of the terms provided in the contract.

lrhall41

Submitted by benjaminz6 on Sat, 04/23/2005 - 16:39

( Posts: 256 | Credits: )

Hi Going through that hotlib.com article, it reminded me to

Hi

Going through that hotlib.com article, it reminded me to share an article published in this site with you which I read some time ago. Here's the link http://www.debtconsolidationcare.com/scam.html

I am just wondering what benefit it does to the companies who make money from the innocent people by using unfair and ulterior motives. Business should be done ethically and there is no harm in making some extra money as profit for the efforts and labor one gives in doing that business. But provided it's done fairly and with good objectives. The companies who tend to make money by cheating people will never last for long and they will never get salvation.

Roxette

lrhall41

Submitted by roxette on Sat, 04/23/2005 - 17:01

( Posts: 4009 | Credits: )