Debt settlement

anyone go through a debt settlement company to work towards paying down debt?

Im considering doing that for our larger bills and have qualified with a company to do so; but it means not paying your creditors while the company tries to settle and agree on an amount.

any experience, advice is appreciated.

Re: Debt settlement

I don't have any personal experience dealing with these companies but I do want to give you a heads up that when looking for a debt settlement company, make sure you do a lot of research on them. I have heard lots of stories of people who wound up in worse shape after going through a DS company because they never actually paid the creditors. In many cases, the DS company just kept all or most of the money and their interest and debts just got bigger and bigger. So please be wary that many of these companies are just scams.

Best of luck to you!

Re: Debt settlement

Ditto what the above poster said. Keep paying your creditors until the debt collector has an agreement in place with your creditor. I did credit consolidation back in college with a company called CCC. They were great. They are not for profit and you pay nothing at all. They set up the agreement with your creditors and you send them the amount agreed upon each month.

Re: Debt settlement

I am currently using Greenpath debt solutions.
They are a not for profit company and have helped me out so much. I started in 2007 and am now just about debt free. They have an office in Hauppague. I cannot say enough good things about them. Free consultation and there is no pressure to sign up.

www.greenpath.com

FM if you need more info.

Lisa

Re: Debt settlement

Re: Debt settlement

bumping..