Negotiate a Debt Settlement
Can I get out of Debt Negotiation program??
After my graduation I had 12000 dollars in creditcard bills last year //Due to lack of a proper job I went behind payments for 4 5 months and it wnet to colections .. to avoid the harassing calls i joined one of the debt negotiation programs..I payed of only 3000 worth so far and payed over 1000 dollars in fees and around 500 dollars in commision.Now I have a decent job and and can pay the rest of the loans in 6 instalments easily ..Now can ido it on my own bypassing the company ... I am doubtful if they are even trying as they promised as the ynever answer mycalls unless there is an offer and sometimesare more rude than the credit collectors ..Please help me I know I screwed up my credit for 12000 dollars but days were bad ... Now I am ina positin to pay off the loans either in full or atleast the negotiaeted amount and I dont want to deal with the people who are charging such high fees and wont answer my calls.My problem is there were 6 cards with imit ranging from 1200 to 6000 $
Public Comments
- Read over the contract you signed with the debt negotiation company, this shoould give you an idea of the ways out. once you get out , dave ramsey says that you can negotiate with the creditors yourself and dont need any help. dave ramsey says you can call and offer to "settle in full " for less then the amount. if they say ok DONT SEND THEM ANY MONEY until you GET IT IN WRITING . if you dont have a deal in writing YOU DONT HAVE A DEAL ( dave ramsey_)
- I have good news, and other news... The good news is, yes, you can get out of the program. They are not a creditor. You do not have to continue their program. I agree with wholy w that after you negotiate your payments with your creditors yourself, get it in writing before you send them any money. Have it in writing, from your creditors, that they will mark your account "paid in full", or even current, "paid as agreed". These negotiations can help you quickly increase your credit score. Don't feel bad, or low, or anything like that. You know the old saying, stuff happens. Hold your head high and be strong in your negotiations. You'll get what you want. The "other" news, is that these "credit counseling" or "debt negotiation" programs actually hurt your credit worse than just not paying at all. Believe it or not, a collection is better than "debt counseling" or whatever they want to call it. If you're looking for a mortgage, you're better off with a bankruptcy than "debt counseling". Weird, I know. But true. More good news for you, is you're getting this program off your back, and off your credit report. Add that to a few good (even decent) negotiations with your creditors, and you'll feel good with new and improved credit! Good luck! I wish you the best!
