Drowning in debt! Do not expect those who promise to negotiate your debt suck you into believing they will help because you will be in for a long ride. In my opinion, I suggest you strike a deal with the bank than their debt settlement and salvation theory.
I suffered for five years under a company that promised to slash my debt in less than 18 months if I send them $400 every month but the only problem was I was paying them and they were not doing a single thing on my behalf. I do not know about the other companies out there but the one I hired to get me from under took me deeper. My debt doubled because they advised me to stop paying down my debt instead save my money for settlement. The late fees and interest multiplied my debt to a figure I do not want to remind myself.
After two years of saving, I called and asked about my accounts and that was the beginning of my nightmare. First I was transferred from one representative to another and I finally realized I was been taken round since they were receiving this monthly payments and were not willing to discuss or so they are trained.
The debt help I was seeking soon became crazy because whenever I called my call automatically transferred to a call center where no one had the knowledge on anything other than ensure I was still a paying member. If you are still reading I need to warn you this is a very true story. It turns out all those promises about debt negotiation were being done by a different company and the only way they can even start negotiating your debt is after you have paid the full fee which in my case $5600.
It reached a point I was fighting the banks, the debt settlement company and the courts. Yes, one of the credit card companies sued me. I finally took matters in my own hands and I remember being so frustrated because I could not find a cheap lawyer, so I represented myself and turns out, I was my best advocate.
Let me warn you, YOU and the bank had better negotiate debt settlement. You do not need anyone to help. If you can make a phone call do it now or hire a lawyer. Do not waste you time with debt settlement unless you are an expert and are ready to read all the fine print.
I hope I just saved you a nickle. Best of luck!
I suffered for five years under a company that promised to slash my debt in less than 18 months if I send them $400 every month but the only problem was I was paying them and they were not doing a single thing on my behalf. I do not know about the other companies out there but the one I hired to get me from under took me deeper. My debt doubled because they advised me to stop paying down my debt instead save my money for settlement. The late fees and interest multiplied my debt to a figure I do not want to remind myself.
After two years of saving, I called and asked about my accounts and that was the beginning of my nightmare. First I was transferred from one representative to another and I finally realized I was been taken round since they were receiving this monthly payments and were not willing to discuss or so they are trained.
The debt help I was seeking soon became crazy because whenever I called my call automatically transferred to a call center where no one had the knowledge on anything other than ensure I was still a paying member. If you are still reading I need to warn you this is a very true story. It turns out all those promises about debt negotiation were being done by a different company and the only way they can even start negotiating your debt is after you have paid the full fee which in my case $5600.
It reached a point I was fighting the banks, the debt settlement company and the courts. Yes, one of the credit card companies sued me. I finally took matters in my own hands and I remember being so frustrated because I could not find a cheap lawyer, so I represented myself and turns out, I was my best advocate.
Let me warn you, YOU and the bank had better negotiate debt settlement. You do not need anyone to help. If you can make a phone call do it now or hire a lawyer. Do not waste you time with debt settlement unless you are an expert and are ready to read all the fine print.
I hope I just saved you a nickle. Best of luck!
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