I am considering a debt settlement program. While I can pay my bills right now, my debt buy down forecast is that I won’t be able to pay all of my bills in a few months.
My question is have you heard of Liberty Lending Group, specifically their debt settlement division and what you thought of them.
I would prefer not to use a debt settlement system as it will severely affect my credit score for years but their offer of roughly 1/2 of what I’m currently paying and pay off in 4 years is very enticing.
Actually too good to be true enticing hence my question.
It looks like this is all I’ve written about Liberty Lending Group.
I can give you the same advice I give everyone to help evaluate a debt relief company.
I would recommend that anyone considering using such a company should read the following free guides.
- The Ultimate Consumer Guide to Checking Out a Debt Relief Company Before You Sign On the Line
- 10 Must Do Steps to Find the Best Credit Counseling or Debt Settlement Company for You
- How to Check Out a Business or Company to Avoid Getting Scammed or Ripped Off
Your question is a bit confusing since you don’t want to impact your credit but yet the offer is very enticing. One of those things has to be more important than the other. Either you don’t want to hurt your credit or you will pay back your debt for less even if it does impact your credit.
But then again if you are willing to accept a credit hit with debt settlement, you should consider bankruptcy as well.
You can find a good local bankruptcy attorney and have a free discussion about what bankruptcy would mean for you. Bankruptcy is the fastest way to get a fresh start for the least amount of money.
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Given the fact you indicate, you can make your payments, there would need to be another reason to make it reasonable to deal with your debt.
For example, if making the payments prevents you from saving for retirement or building up your savings account.
And if you will be unable to make your payments in a short period of time that is typically an indication bankruptcy in the future might be a better consideration once you get your income reestablished. Until you resolve the income issue I would not necessarily rush to embark on a debt solution path. You might even need to default on your debt if you can’t make the payments.
Sometimes doing nothing is a better solution than just doing anything.
Maybe you can update me in the comments section below and let me know what your primary goal in dealing with your debt is.
Asking me about a company before figuring out what the right solution is, is putting the cart ahead of the horse.