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I Am a College Grad With Debt and Working With Debt RX. Should I? – Luke

“Dear Steve,

I am a college grad, with 3 credit cards totalling around $18,000 of debt. I enrolled with Debt RX in March/April of 2009 and have still not settled with any of the cards. They have been good about answering my phone calls and responding to emails, but don’t know if this usually takes this long. I am still receiving phone calls from banks saying they are willing to help work with me, but I have already enrolled with Debt RX and have paid them monthly fees since April.

Since I am currently enrolled with Debt RX should I just stick with it and hope they reach settlements with my creditors or break ties with Debt Rx and work something out with the banks myself?



Dear Luke,

It is unfortunate that two different companies chose to use very similar names. Debt RX is a different company from Debt RX USA. Can you give me the specific link to the company you are using in the comments section below?

If you are using Debt RX USA then you should read this question I just answered, I Was Working With Debt RX USA. They Promised Me 40% Settlements But I’m Being Sued. – Amanda.

Enrolling with any debt settlement company does not remove you from your obligation to pay the original creditor. Sending payments to a debt settlement company instead of the creditor is an invitation to get sued and ruin your credit even more.

I would suggest that the money you are paying now isn’t even going towards settling your debts, just paying front loaded fees to the debt settlement company. Working something out on your own is worth a shot and it would certainly be a lot less expensive.

Please update me on your progress by posting updates here in the comments section of your question. I’m very interested in how this works out for you.

P.S. Be sure to read ‘The Secret of Surviving Through Difficult Economic Times. What I Learned On My Journey‘.

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About Steve Rhode

Steve Rhode
Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

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