I signed up with Oak View Law Group for debt consolidation. I have about $33,000 in credit card debt. I am getting really nervous. I have not paid my creditors for almost four months as I am paying Oak View instead. This feels very strange of course. I have no complaints as yet, but it is hard to be getting phone calls and now letters from creditors that demand payment and threaten legal action. (I have not answered these as i am under the impression I don’t need to.)I look forward to getting this settled and being able to move forward with paying off a hopefully settled amount of debt. I am now afraid I should have called my creditors myself and tried to settle. I have a good job, but my son and daughter in law are facing a medical crisis with my Granddaughter and I am trying to help them. Thus the need for debt consolidation. I want to believe this process will work and i know it takes time, but i am getting pretty scared.
What should I do next? Do creditors usually work with groups like Oak View or will they just go after me? How will i know it is working?
Working with Oak View Law Group or any debt settlement company it does not relieve you of your contractual responsibilities with your creditors. If you do not send at least the minimum payment to your creditors then they will come after you.
Any creditor at any time could avail themselves of any remedy for non-payment under law including suing you, obtaining a judgment and garnishing your wages.
You should contact your creditors directly if you are concerned about being sued and also contact Oak View to let them know what your creditors said. Sending payment to the settlement company instead of the creditor isn’t a reasonable excuse for the court.
If you unable to save money quickly to pay these debts then you should click here to find a local bankruptcy attorney and go talk to them about how bankruptcy can shield you from getting sued and eliminate your debt.
Debt settlement is not a one size fits all approach and in your case it might just not be the best solution for you considering the underlying situation.
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.