thinking about signing up with Select Financial-cl

thinking about signing up with Select Financial-clearwater, Florida who use Globalcreditsolutions in Tulsa, Oklahoma as company who processes the payments. Apparently, it will be atleast 6 months before select financial would be able to settle with even one. Don't know if the stress will be unbearable or if Chap.7 is better.

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We signed up with them in October. As of june 15 none of our creditors had ever even been contacted! Our main credit card has been turned over to a law firm for collections.  We called Select in early June to cancel and they agreed. Then they turned around a week later and took their payment! When we signed with them we were current but starting to struggle with the payments. They turned our good credit and now we are anticipating bankruptcy. Hopefully we'll find a better route to take.

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Filing bankruptcy has it's own effects on your credit. It stays on your credit report for long, and makes life more difficult for you. Although debt settlement takes a hit on your credit initially, you may gradually improve your credit score with time as you come out of the debt burden.

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Debt settlement is a good option to get rid of your debts. You should try out this option before filing bankruptcy. If you wish, you can even negotiate with your creditors/collection agencies on your own and try to settle the debts.

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