I am praying you can advise me. Like the rest of the fine people in this country I have lost $30 in wages last year. I had emergency surgery and had to go on 13 weeks FMLA. I have spoke with a BR attorney due to our $35,000 in debt from living on credit and retained him. I then started wondering if Reliance, INC ( debt settlement) might be a better choice. The want so much money($4200) and they take theres up front. I am worried I will be sued if some of these credit card compainies have to wait that long. Should I follow my gut and file BR and protect myself from garnishments and lawsuits or try to work something out? I am nnot sure I trust them all the way.?
What do you think would be a safer approach to protect yourself from possibly legal action down the road? What is your personal opinion on debt settlement?
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Thank you for writing in. As a result of your question I did a review of Reliance, Inc for you. You can read the Reliance, Inc. review here.
If we look just at the risk of being sued and garnishments then bankruptcy is the single best and absolute way to prevent that from happening. In fact, bankruptcy costs much less than debt settlement and has a significantly higher success rate than debt settlement. I would suggest you read “The Truth About The Failure Rates and Completion Rates of Credit Counseling, Debt Settlement, and Bankruptcy.”
My opinion is if you want to close the door on the debt and prevent legal action down the road then bankruptcy is the way to go.