Answers level
Debt Problems

Should I switch to debt settlement program?

I am working with a consolidation company at present. The consultant told me that it will take around 3 years to pay off my debt. I don’t want to wait for such a long period of time. I am thinking to switch to a debt settlement program. Am I taking the right decision?

Asked on Tue, 08/02/2011 - 12:05
anonymous
2 Answers

Vote up!
3
Vote down!
-2

Sally....do you know anything about the impact of debt consolidation on a credit score???  It tanks your credit score since you are not paying as agreed!!!!

To the original poster...you didnt get into debt overnight, so dont expect to get out of it overnight.  Both come with risks.  However if you decide to settle, do not waste your money on a debt settlement program....do it yourself!  Do your research and save yourself a lot of money!

 

How to Deal with Illegal Loans..OhioGal's Primer
http://www.debtconsolidationcare.com/paydayloan/dealingwith-illegallenders.html
PDL's are ILLEGAL in the following states...
AR, AZ, CT, GA, ME, MD, MA, NJ, NY, NC, PA, VT AND DC
OH AND NH have very restrictive low cost interest rate laws.

SOL for all states
http://www.debtconsolidationcare.com/statute-of-limitation.html
Answered on Sat, 08/06/2011 - 09:09
SOAPLADY

Vote up!
4
Vote down!
-1

I don’t think so. This is because debt settlement hurts your credit score. On the contrary debt consolidation doesn’t have any negative impact on your credit score. It helps you replace your multiple bills into a single monthly payment.

Answered on Tue, 08/02/2011 - 12:23
sally.nachelle

Write Your Answer

CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.
What is the sum of 12 and 1


About Us | Contact Us | Privacy Policy

Copyright © 2018 DebtConsolidationCare | 301 W. 11th Street Unit E, Reno, NV, 89503, United States
Inter Next Technologies, Inc., Internet Marketing Services, Reno, NV

* Disclosures:

  • By signing up for counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
  • Some creditors and collection agencies refuse to lower the pay off amount, interest rate, and fees owed by the consumer.
  • Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
  • Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
  • The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.

Page loaded in 0.187 seconds.