The debt relief company cancelled what do I do now?

Question

Last may we decided to consolidate our debt and made payments to a debt relief company who would begin negotiations as soon as we paid the finance charges. Never got that far b/c our state passed law that said they could not do business with us, we got refunded. In the meantime we have been turned over to collection agencies, should I negotiate with them on my own?

Answer 1

As executor of an estate, one of my jobs was to negotiate with collection agencies. I found that when I dealt with them directly, they were willing to accept 75 to 80%. Debt consolidation and management services can usually do much better on your behalf because they have relationships with collection agencies - sometimes your debts can be reduced to 25% of the original amount.

Check out: http://www.mortgageous.com/debt-consolidation

If I remember correctly, they also have an option for a free consultation to help protect and/or improve your credit.

Good luck, and don't back down! Collectors have been known to use predatory techniques to intimidate you, but if you stand firm, you'll come out ahead.


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Answer 2

In a tax occupation spanning an prolonged time, i've got dealt with people who've tried tax debt alleviation agencies. In ever case, each physique, the guy became hit with a double whammy - a various-thousand-greenback invoice from the credit organization (you will possibly need to pay earlier they are going to "help" you), and nil help with decreasing the tax invoice. in certainty, quite some the human beings i've got spoken with reported the organization stopped chatting with them as quickly as they paid the money. Your appropriate guess is credit counseling to get out from decrease than your mastercard debt. those agencies could be undesirable information too in some circumstances. verify which incorporate your economic employer. they might desire to have the potential to refer you to a valid credit counseling organization. in spite of you do, do no longer neglect relating to the IRS. they are going to artwork with taxpayers who owe money. they elect that may additionally assist you get contemporary on your tax invoice. call the type and consult from somebody on the IRS. they are going to in all probability elect you to establish a charge plan. in case you do get on a charge plan, do no longer pass over any money. yet lower back, they are going to be 10 cases greater cooperative with you in case you call them, somewhat than waiting to get contacted via the computerized series device.

Answer 3

Yes you can settle with them on your own. If they have purchased the debt, they propably paid no more than 10 to 15 cents on the dollar for it.

Answer 4

Try sending your creditors a full payment each. Then contact them to reinstate a payment plan, and pay your bills. Don't make any more. Live within your means.