Financial Information
Debt Settlement Discounts, Scams
do it yourself debt settlement
Last year Americans had a total of 6 billion in credit card debt. Susan Koeppen reports on an Early Show investigation into debt settlement companies and scams promising big savings and discounts.
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#4 written by debtcc 1 year ago
True there are scam companies out there to get your money rather than help you get out of debt. But there are signs you can look out for. You need to be extremely vigilant when thinking of working with a settlement company. If they ask for an up front fee, back out. If they pressurize you to get into a program with them immediately because there is some kind of a deadline, steer clear of such companies.
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This is a good start to the debt settlement conversation.
There are a lot of unscrupulous companies out there.
I used a company called Consumer Recovery Network that charged me $1150 to settle $130,000 of unsecured debt. It took 6 months and my final settlement amount was $40,000 or 28 cents on the dollar. Their fee of $1150 was minuscule compared to other companies whose fees were on average $10,000..or more!
I am blogging about it at debtsettlementstory (dot) com