I am thinking of using Credit Solutions to settle me debt. Have any of you ever settled debt and how does it work. I do not want to file bankruptcy as Feel I do owe the maoney. I just can't make any more payments. I am falling further behind and want to settle my debts. Any useful info out there?
2007-02-08 06:18:41 · 2 answers · asked by Missymoo 2 in Business & Finance ➔ Personal Finance
The way those places work is they negotiate a lump payment to your creditors. Then they pout you on a longer term (thus high interest) plan to pay them back. it's not a scam - it's a legitimate business but you CAN do what they do.
That is to say, you can negotiate payments with your creditors. You won't get as much taken off as the debt consolidators (because they will zero out the account) but you will be able to make headway. In the long run, it will cost you a lot less to try and work it out yourself.
2007-02-08 07:20:00 · answer #1 · answered by Bill S 3 · 0⤊ 0⤋
Sending e-mail answer...
2007-02-08 14:21:40 · answer #2 · answered by tlbs101 7 · 0⤊ 0⤋