I have unsecured debt of about $20,500.00 and have been looking at debt relief via a debt settlement company. I’ve been doing some online research on a few companies and I’d like to get your opinion on the company The Debt Answer. I read your review on Impact Relief and it just keeps getting worse for this option.
Is this the absolute last option? I’ve been through bankruptcy before and I don’t want to go through that again, especially with the new laws that have been implemented to make it harder. I lost my job and was unemployed for a couple months. We lived off my retirement money and my wife’s salary, but I found a job in California and had to move from Arizona. This meant my wife had to give up her job and now she’s unemployed.
I am trying to reduce our unsecured debt and sell one of our vehicles so we can have some breathing room. I have a school loan, rent, our twins monthly tuition payment, two vehicle payments, and utilities. I need to do something with our unsecured debt because those payments are about $700.00/mnth.
I understand you’ve been through bankruptcy before and want to avoid it but you need to know bankruptcy is the ONLY consumer debt solution that will stop collection calls, block or kill lawsuits and eliminate your debt is a reasonable fashion that is binding on your creditors. If that’s the kind of solution you are looking for, your options are limited.
You might want to read my article The Truth About The Failure Rates and Completion Rates of Credit Counseling, Debt Settlement, and Bankruptcy and read how effective debt settlement really is.
If you want a second opinion about debt settlement and if it is right for you in your situation, contact Damon Day and talk it over with him. My opinion is in your current situation bankruptcy gives you more protection and a resolution for less money that a debt settlement approach would cost.