The beginning of my journey is in the tread "Going down the debt settlement road".
It took along time, but the result wasn't bad. After kicking the can down the road by paying $15-$20 every month or two, they accepted a settlement of a little more the 50 per cent. This was about 19 months after the first missed payment. It stayed with Cap One the whole time.
Thanks to Jared and all the others for their knowledge. It feels great to be nearly debt from, except for the mortgage. I hope to be able to get the Credit Score above 700 in the next few months and do a Re-Fi.
The view is much better at The End of the Road!!!!!!
By signing up a debt counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
Some creditors and collection agencies refuse to lower the payoff amount, interest rate, and fees owed by the consumer.
Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.