2007-12-19 03:53:51 · 2 answers · asked by tellingthetruth 1 in Business & Finance ➔ Personal Finance
I have not had personal dealings with them, but after careful examination of their website- It looks like they do a debt negotiation or a settlement. This can hurt your credit.
A major thing to be aware of is that any debt that is negotiaoted needs to be claimed as income to the IRS and taxes paid. Example, if you have $20k in credit card debt, and they save you 10k in principle payments, you will need to claim an additional $10,000 as other income on your taxes.
If you have any other questions, you may contact me directly
Courtney Kostelecky
Founder DebtFreeNews.com
2007-12-19 05:50:47 · answer #1 · answered by Anonymous · 0⤊ 0⤋
have no personal contact with them but i don't think any of these services can do anything more than you can do yourself and could hurt you credit report in the long run!!!
2007-12-22 23:09:34 · answer #2 · answered by mister ed 7 · 0⤊ 0⤋