Negotiate a Debt Settlement

debt settlement? My wife and I have settled 2 credit cards thru a debt settlement company with no problems. We are now in the process of settling hers, this is the last one. But, now it was sent to a law firm and now she has to go to court. We have a little saved up in our acct. w/ the settlement company. Was wanting to know if this has happened to anyone and if so, when you went to court were still able to pay off your debt when a settlement was reached or what.

Debt settlement? I was talking to a friend of mine this morning and he was telling me he was going to do debt settlement even though he still had the ability to pay his bills. He said he would get the settlement company to get his balances on credit cards and unsecured debt cut by 40% or more, then make a lump sum payment right away and his debt would be cleared with almost no negative effect on his credit. He said usually what happens is you take from 1 to 3 years to pay off the amount and in that time it reflects poorly on your credit, but as soon as you pay it off it is as if it never happened. Is this true? If so, why doesn't everyone do this? It sounds like he is a little mis-informed? Or is it true?

Debt Settlement? What's the best debt settlement company to go with? Not credit counseling but debt settlement.

debt settlement.? I am going to go through a debt settlement company. The problem is that my one large loan is still in my mother's name as the #1 borrower. My name is also on it as the #2 borrower. I make all of the payments on this loan. If I were to settle this It could effect my credit. I don't want it to effect my mother's credit. Would it still effect her credit?

Debt Settlement? I have worked with consumer credit counseling for over a year now and I currently was paying over $1,500.00 a month to cover bills, unfortunately my husband is off work and will be for some time because of a work injury which workers' comp denied. He is scheduled for 2 surgeries and I am seeking some form of disability. I will be down to one income, I have four children, I am thinking about doing debt settlement since we owe $75K and I am the only one working with no other income coming in, please advise me if these programs work, I cannot file bankruptcy. Please help me.

Debt Settlement? I spoke to a collection agent today about an old debt that I am trying to pay off. They offered a settlement for about 20% less than the total. They informed me that if I took the settlement it would look bad on my credit report. Any truth to this or is this slimeball agent just trying to get as much money out of me as possible? I was under the impression that even if I pay the settlement offer from the collection agency that it will still show as being paid on my credit report and the account being closed. How can it ding your credit. If it is an old account that is in collection. Won't my score go up when it's paid? Do you mean it won't go up as much?

debt settlement? I just posted a question a few minutes ago about my wife having to go to court over her credit card. Like I said before we have all ready settled 2 w/ a debt settlement company. Her's is the last one we are settling and now she has to go to court. She has lost her job because of plant closure. We have a small amount built up in our acct. with debt settlement company, but nowhere near what the lawyers say we may have to pay. Does anyone have any thoughts of what might happen?

Debt Settlement? My spouse is being held liable for my debt since I filed bankruptcy and he was a card holder. They won't accept payments and want the full balance. We do not have this. I know they will get a small % selling to a credit collector, etc. What is a reasonable discount to ask in a debt settlement? They've already wrote this off as a bad debt due to my bankruptcy and it was not my spouses account. Is asking for 50% off discount acceptable? We could probably get a loan for 50% but there is no way we could get one for the full balance. The debt doesn't show up on his credit report. It shows up only on mine as an individual account as he only joined my card years after I had it. They are requesting full balance and won't take payments.

Debt Settlement? Earlier I asked about how to get some debt relief. 1. I cannot transfer balances to another card as I cannot get approved w/ a 0% card because I already have too much debt. 2. I can't get a home equity loan because I don't have enough equity. 3. I called Amex today as my minumum w/ them alone is 250 a month at 30% interest. The best they would offer was 14.99%. When I mentioned that I did not want to go into a debt settlement program, they said that they do not participate in that. Any other ideas?

Debt Settlement? I've been in a credit counselling service for one year now and I am saving money on the side. I've been recently offered a settelment on a sizeable debt I have. It's 60% what I owe the company but it's through a collection agency. I know that by taking the settlement, the balance will go on my income at tax time, but I figure that the taxes I'll pay on it will be a lot less than what I would pay if I continue with the payment plan I have been using. Are there any negatives to taking such a settlement? Can I ask that they consider that I paid it in full on my credit report? If I can manage the three payments, why shouldn't I take the offer? Sorry, I meant 60% OFF what I owe!!

Debt Settlement? What would happen if the creditor rejects the offer from debt Settlement Company regarding about my credit cards debt? Will I facing a law suit?

Debt settlement!? I sent my creditor a certified letter of debt settlement that I would pay in a lump sum, my debt .30 to the dollar. and If they were willing to settle send me a letter signed in agreement! How long do they have respond? It has been a week. Should I keep sending them the letter..? am I on the right track. I am only 19, and want to fix my mistakes I made with two credit cards I made last year! also how will it look on my credit if its paid?

debt settlement? does anyone out there know anything good or bad about debt settlement companies?

debt settlement? My spouse & I are in serious financial problems. I think we need to file bankruptcy because he has stopped paying his credit cards. i'm keeping up with the utilities and my own credit cards. we own 2 homes, 1 of which is on the market and my spouse refuses to bring down the asking price and now the morgage company has started foreclosure on that property. he's been able to sort of keep with the morgage payments on the home we live in. my ? is, is debt settlement a good option? I don't know where to turn to anymore. My spouse wants to "keep up the fight".

debt settlement?? have you or anyone near you did debt settled before?? there's lot of agencies and don't know how it works..and it really worked. please give me some information. and please don't leave answer person who works in this field. thank you.

debt settlement? I believe this guy is out of Texas, he has a website that he gives info on how to get out of debt, but it also lists collection agencies to watch out for. Anyone know who i'm talking about and the website? thanks

Debt Settlement-Negotiated By Self-Bad for My Credit? I have about 36K in "bad debt" related to medical bills, being poor ect. Now earning decent income, but not enough to pay off my overwhelming debts. I can pay minimums, but fear that I will be stuck in this rut for years and never have the credit/avaialable income to afford a home. Question: Is debt settlement bad for my credit? I have 6K and wonder if I could use this to pay some bigger debts. Not through a debt-settlement corp, but by myself. For example, I have 2 credit cards, each with 5k in debt. I have been paying on these cards for 10 years and have paid them what I have borrowed 3 times over. If I offer to settle now for 50%, would that hurt me? Also, I have an 11k debt related to med bills-I got behind on this, but am in a payment plan. Previous to payment plan, I was offered to settle the 11k+ debt for 5,600 hundred. Is this bad for my credit? It would save me money and free up more to pay other debts (400 per mth) What do I do? I'm sorry. I'll be more specific. My question is not about *how* to settle, but rather, if settling debt for less than what I currently owe would *damage my credit*.

Debt settlement program starting tomorrow...what should I expect? To make a long story short, I have managed to bury myself with almost $70,000 in credit card debt I did not want to file bankruptcy. I have been able to pay around $1,500 a month towards credit cards consistently which usually cover a little more than the minimum payment. I was doing the math and even with getting interest lower this is going to take me anywhere around 8-10 years. So I decided to join a debt settlement program that allows me to pay $1075 a month for 36 months and it will get me out of debt by settlement. I have never been late on anything before but this month I have been advised by the company I decided to work with to stop paying the creditors. Does anyone know if the debt settlement companies send pfd's or are they just trying to settle and get their share? What are somethings that I should expect to happen to my credit in the next 3-5 years? Does anyone have any success stories about settling their debt? I am just trying to sleep good at night with this decision.TY

Debt Settlement program startting tomorrow...what should I expect? To make a long story short, I have managed to bury myself with almost $70,000 in credit card debt I did not want to file bankruptcy. I have been able to pay around $1,500 a month towards credit cards consistently which usually cover a little more than the minimum payment. I was doing the math and even with getting interest lower this is going to take me anywhere around 8-10 years. So I decided to join a debt settlement program that allows me to pay $1075 a month for 36 months and it will get me out of debt by settlement. I have never been late on anything before but this month I have been advised by the company I decided to work with to stop paying the creditors. Does anyone know if the debt settlement companies send pfd's or are they just trying to settle and get their share? What are somethings that I should expect to happen to my credit in the next 3-5 years? Does anyone have any success stories about settling their debt? I am just trying to sleep good at night with this decison.TY

debt settlement programs? I have checked out consumer credit counseling and debt settlement programs. I pretty much understand that ccc gives you a mark for many years, in comparison debt settlement is telling me it is not as bad as the ccc mark. Ok so I am still current with my credit and mortgage but I am about to fall short however I am due a lump sum of money in the couple months. It will be enough money to pay off my creditors when it comes. should i just pay the debt off myself in full if i can ? what would be the best stradegy to save my credit? I have maintained excellent credit for 18 years now. However I am about to be in trouble now. thank you

Are debt settlement companies a scam? I was thinking of signing up with a debt settlement company but I have heard the debt settlement companies not what they seem. They promise to settle your credit card and unsecured debt for half or less than what you owe. I have heard what they don't tell you is that you usually get sued, get your wages garnished, and that the debt settlement companies over report what they actually save you while charging you a huge fee. In addition, I have heard that your savings are reported to the IRS as income and that your credit report is trashed. Supposedly their seemingly caring sales people are paid high commissions. Apparently you can negotiate with your creditors and be just as successful while saving the thousands of dollars these companies charge you. What I want to know is if all that is really true about these companies and can I actually negotiate with my creditors myself and save thousands in fees. I need the scoop from someone that is honest and knows the truth about these companies

Will debt settlement crash my credit score? Has anyone ever used this? I have quite a heavy load of debt and want to consolidate to reduce fees, etc. Has anyone ever heard of these guys: APEX FINANCIAL SERVICES DEBT SETTLEMENT PROGRAM Smart, easy and proven alternative to bankruptcy! Debt Settlement REDUCES your debt by as much as 40% to 75%! You could be debt free in as little as 12-36 months. Our negotiators have settled millions in consumer debt. Please let me know if you've had any experience or have any advice. I have about 5 revolving credit lines (including car insurance, etc.) and want to consolidate all to one account, or use the service I mentioned above. Any advice is appreciated!

debt settlement or go to court..pls help!!!!? I am being sued fo a debt that I owed dated back in 2005, I seeked the help of a financial consultant recently and was advised by them that they can help me with a settlement with the attorney office to about 80-90% of my debt. The only set back is that I have to pay them 1K for their service. Please advise if I should settle my debt in court or go through with the financial consultant company and get this over with? My court date is set in May but till now I have not received a summons from anyone. Supposedly they said that they had tried to reach me at my house but couldn't find me. Is there any way that I reach them to get my summons mail to me or I can pick up myself. I don't want them to go to my work. Is it eve possible for me to contact the attorney office and negotiate myself? Pls help!!!!!!!!!! thank you all!!! I owe the cc company right now $2090. The financial consultant is asking for $1000. They told me plus everything I probably would owe the attorney around $1500 additional to my debt. That would means I would be pay around $3500. The consultant told me he can get me to pay around $2800 or $3100 as an out of court settle. of course not including their 1k service fee. I am just not sure what I should do.....Should I go to court and ask for a monthly installment since each month what I have left is only about $300 max. Should I go with the expert and get this over with? Or should I contact the law office and negotiate for an out of court settlement directly? thank you for your reply btw. thanks all for your help. Well I did went to court and ask about the case...the clerk told me someone tried to drop off the summons to my house but they couldn't reach me, I assuming I was at work...anyhow, I asked her who issued and deliver the summons..court or the attorney office, and she told me that the attorney office. I manage to borrow some money, and well I contacted the attorney office and they're willing to settle my debt for 69% of it...I managed to borrow some money from a friend because I just want to get this over with and not deal with the law. Well, I paid off and they said they would drop all charges and such....I got a settlement letter from them and I've checking to see if my case has been dismissed but it still show pending...so Im going to continue to check and hound them day and night if my case does not get dismiss...LORD...one big lesson to learn...thanks all!!!

Will debt settlement ruin my chances at getting a new job? I am going to go through a debt settlement with my significant other as an alternative to bankruptcy. We're both young, and planning on advancing in our careers. Would a debt settlement work against our odds of landing the perfect job, even if we are the most qualified??

I need some answers about debt settlement and companies who do debt settlements.? I have some serious debt issues and need some help. I talked to a debt settlement company, but I can't find any specific information about them. Does anyone know about American Financial Services or Axiom Financial Solutions? And does debt settlement really screw up your credit as badly as some would have you believe? It seems to me if you have unsecured debt you can't pay that would damage your credit just as badly. Help! I need info from somebody who knows about these things.

debt settlement - Is it worth it? My husband and I are about $45,000 in credit card debt and we are drowning financially. We want to avoid bankruptcy, but we can't even make minimum payments anymore. We have considered using a company called Superior Debt Settlement. They have told us that they can settle our debts, set us up with a payment plan and we can be of debt in 3 years. At that time, they pay for 3 cycles of debt restoration so that our credit score will look much better. Is this a good plan or can someone recommend a better plan. Has anyone ever heard of or used this company before?

Debt Settlement on my own? I have 25,000 in credit debt and 40,000 in income but with car payments, rent and expenses I never seem to get anywhere with my debt. I am still current but all the rest of my money goes to credit cards. I don't use the cards anymore but I just make small dents in what I owe. I looked into debt settlement with a professional but I would like to do it myself if I can. The settlement company told me I would stop paying my creditors and that they would have me put a payment into an account with them until I am seriously behind and then they would negotiate with the creditors. If I did this on my own should I stop paying all my credit cards and put my money into an account so I have something to pay to the creditors when I settle or should I try to use the money to knock out the smaller ones and try to negotiate the bigger ones?

Debt settlement - what are the pros and cons? what are the pros and cons for a person that settles their debts with credit card companies for less than the amount owed? (Debt settlement) and how does this affect your credit rating afterwards? thank you ahead of time for all responses!

Is credit card debt settlement bad for your credit? I am a senior in college, I have no job now as I am finishing school. I start work in June, and I actually have good credit, over 700, and 5k in credit card debt. I've paid my bill in full always in the past until my last killer spring break. Debt settlement sounds cool to cut the debt in half which I would pay off with a lump sum, or should I just stomach it for another month where I can pay it all off entirely in full. Thanks.

Debt settlement on my own - Can I make payments? I understand there are tons of companies out there who offer debt settlement programs. Some sound alright, others have been extremely annoying - after the only thing I really wanted was a consultation and some help understanding the program to begin with, they would not leave me alone!!! (Must work off commission). Anyway, I thought about negotiating with my credit card companies on my own, and one agreed (almost) to a 50% reduction. Sorry this is getting so long, but anyway!!!... How the heck do I pay that lump sum at once? When negotiating on your own, can you also request that discounted balance to be payable over a certain amount of months? Or should I just go ahead with a debt settlement company so I can make payments over 2 or 3 years? If I had a huge $4000 cash wad (like needed for the debt reduced 50%, which is only 2 of my 5 cards) then I probably wouldn't have such a financial problem. lol But I don't have that kind of money all at once up front..so any suggestions!?

The affect of Debt Settlement on your credit report? Hi, I'm 23 years old and have accumilated $20,000 in debt. I started going to school full-time last year so my income shrunk and I couldn't afford the payments. Last year I joined a program by Debt Settlement America to settle my debts. My question is how bad is debt settlement going to affect my credit report? Will it be long term affects or short term? Does my score raise when I settle an account? And finally, will my credit ever be restored again or am I going to be carrying around the cursed credit report for the rest of my life?

Debt Settlement - Pros and cons? what are the pros and cons for a person that settles their debts with credit card companies for less than the amount owed? (Debt settlement) and how does this affect your credit rating afterwards? thank you ahead of time for all responses!

My Debt Settlement was sucessful but only with credit cards, how about other debts? Around 1 year back, me and my wife decided to go with this company http://www.DebtCareUSA.com for debt settlement of our credit cards. We had around $16,000 and we had to pay back only $9,000 that too in monthly payment... They paid off all our 4 credit cards and now we are in good shape but this company told us, they can not help us with IRS, Student loan and a car loan we have because these are secured. Is there a company which can settle secured debts for us?

Debt Settlement Company? I have been looking to find a debt settlement company that will reduce my debts and help me to be debt free in about 24 months. I know that my credit will be affected but i don't intend to use my credit for any large purchases for about 4 more years. After all my good credit only seems to be getting me into more debt trouble and I couldn't afford to get any more credit anyways right now.

Debt Settlement Company? I have been looking to find a debt settlement company that will reduce my debts and help me to be debt free in about 24 months. I know that my credit will be affected but i don't intend to use my credit for any large purchases for about 4 more years. After all my good credit only seems to be getting me into more debt trouble and I couldn't afford to get any more credit anyways right now.

Debt Settlement and taxes? My husband and I were in a debt settlement program. I am wondering if we'll have to claim this on our taxes? I know we'll have to claim it, but will we have to pay? This is what our debt program states on their website and what we were told by them: Creditors are required to report canceled debts exceeding $600 to the IRS and you are supposed to report the same as income on your annual tax return. However, the IRS permits you to write off any “income” from canceled debts up to the amount by which you were “Insolvent” at the time. Therefore, unless you have a positive net worth, then you ordinarily will not be obligated to pay taxes on the forgiven amounts. Additionally, if you do not qualify as insolvent non principal amounts such as fees accumulated on the account may be deducted from the amount reported. We've never had to pay but always received money back. Will this deduct from the money we should receive?

Debt Settlement is the future? Debt Settlement with http://www.fdnsolutions.com is a newer approach to CCCS. Has anyone ever used another debt settlement company before that had better results?

debt settlement answers? I would like to learn about debt settlement. Please let me know of a company that is available that explains the debt settlement process.

Disputing Debt settlement/consolidation company charges? Has any ever, or know if you can, dispute charges made by a debt consolidation or debt settlement company. they refuse to refund my money because I signed a contract, even though they did not perform the services in which I was paying for. ANY HELP HELPS!!!!!

Helpp!!!!!....debt settlement? i need help with my CC debt. how is Debt Settlement work? is it good? "Americandebtcontrol" how is this company, is it trustworthy? Appreciated for answer. Thanks

Debt settlement program & Mortgages....? My husband and I have been in a debt settlement program for almost a year. We have enough money to settle all of our credit card debt but are told to stay in the program for awhile longer. Our rent lease is up at the end of the year and we are currently looking into purchasing a condo. Is it possible to qualify for a mortgage while in a debt program?

Feedback on finding debt settlement....? I have a question for people that enrollled into a debt settlement program. I know there are a lot of strong feelings on both side about debt settlement. I just want to know if someone was thinking about joining it....where would they look? search engines, telemarketing, mailers, or banner ads. Has anyone done debt settlement and if so....how did they find the company they enrolled with.

Has anyone used one of those debt settlement companies for your credit card debts? They're saying they can settle for around 50% or less. But the web address URL ( http://www.americandebtsettlementgroup.com ) doesn't work, however they are listed in the BBB under this law office: http://data.phoenix.bbb.org/commonreport.html?bid=97015677 Anyone ever tried American Debt Settlement Group? Or any other debt settlement or debt consolidation companies?

Debt settlement vs consolidation? I'm trying to get out of over $35 grand of credit card debt. I was told by The Credit Exchange that debt settlement (with lawyers, when you put away a monthly fee into an account) is cheaper than consolidating/counseling. Which is safer? Did you have much luck with either? Any help would be appreciated!

Debt Settlement Question? Im thinking of doing debt settlement. I have about 16K worth of credit card debt, my question is, does anyone have experience with this? Will I be able to get credit in about 4 years or so when I'm done with the program? (Currently renting, looking ot buy a house in about 4-5 years) Anyone with experience please share. Thanks!

Debt Settlement VS Bankruptcy? how much better is the debt settlement option for your credit rating? i was considering calling Credit Solutions who claim they can reduce the total amount of debt by 40 to 60%

debt settlement benefits? I have lots of debt and i am thinking of going with debt settlement. what are the disadvantages of it and what are the risks. is Curadebt a good company.

I have entered debt settlement with a company. They are no help. What next? what can i do now that debt settlement has only made matters worse with my credit card debt?