Debt Solutions Blog

bookworm6061 asked:


The statute of limitations is up in 11 months, but I **** to leave this hanging. I have some good faith money $5000 but they want 11,000 to settle. I have no way to get the extra 6000. Already used all my options and am working extra to keep other bills paid. I really have no other money.

turin asked:


How much is the fee usually associated with a debt settlement programs? Note I am talking about “debt settlement” program not “debt consolidation” prorgram. I called two places and both the fee is 15% of the total balance of the outstanding debt. I guess I want to know if that’s the standard fee to pay for debt settlement or if there’s anything lower out there then I will keep searching.

Please answer directly to the question I asked only. Don’t go telling me how these programs are a scam and that I will end up paying more money with these programs blah blah blah, and I don’t need advice about other options to lower my debt. Just answer the question I asked thank you!!
They are all credit card debts

On debt settlement program like the onr offered by this site:

http://www.debt-settlement-america.com/

I actually used a debt settlement program a while ago, they did a settlement for me for 40%, but they charged me a 15% fee, so at the end it ended up being 55%. I am just wondering if there’s anything out there that charges less for the fee. I know there’s a lot of rip-off settlement agency that actually charge more, so I am wondering if I actually paid too much when I paid 15% back then…

L-Train asked:


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

Jill Dugan asked:


Are you happy you did it? Any suggested companies? I am currently leasing an Audi and it runs up in a year and i am afraid i won’t be able to lease another car if i am in either of the programs. i have never missed a payment and as of now i am current on all my bills, but i lost my high paying job and took a lower salary so i have debt built up and i need help. suggestions anyone? Thanks.

STEVE asked:


I know you can do that with any type of loan only if it’s an UNSECURE LOAN~~

Lil asked:


Is anybody out there currently in a debt settlement program? If so, tell me your experience?

Bajan Mama -35 asked:


I called creditsolutions a minute ago and they told me that they are not a consolidation company. I told them that I have a debt for 16,000. They told me that they can get my debt company to settle for 9,800. and they charge a 15% fee. Does this sounds okay. Please recommend me to some other company but not consolidation I do not want to consolidate I want a debt settlement company. That I would still pay, I heard when these consolidation company pays for me It haunts my credit score.

Bob M asked:


I’m so worried about getting screwed by an incompetent company. Also, I checked with Debtmerica and they’re trying to charge me a 15% fee to do the debt negotiation. I’ve checked with a few other places too and somebody recommended going with an attorney-based debt settlement company to get better results. Any help would be appreciated.