Ask The Get Out of Debt Experts Debt Settlement

I Was Researching Cyrus Global and Have Some Questions. – Debra

“Dear Steve,

I found your website when I was researching cyrus global .I was going to sign up with them but after reading what you posted I dcided against it so thanks for the information.

So my question is I am carring around alot of debt roughly
7,000 in student loans
10,000 in a car loan
5,000 on a regualr loan
7,000 in credit car loan

its alot I make 48,000 a year which Im basically living paycheck to paychech with all the bills and payments I am making.And I can’t save any money.

I tried a debt relief program in the past and I was sending them money and they wre making paymnets on my behalf they were good for about 6 months then they started making late payments to the creditors so I quit them.

So what Im asking is what should I do?


Dear Debra,

Well it might have been a really good thing you found me. Based on the mix of your debt I’m not sure how a debt settlement program, which what Cyrus Global was selling last I looked, is the best solution for you.

The student loans can’t be included in a debt settlement program, nor the car loan if you want to keep the car. The “regular loan” might not be able to be included either if it is secured by collateral or has a co-signer.

That potentially leaves you with only the credit card debt and if you can afford about $140 a month you should be able to include that in a debt management program. You can click here for credit counseling information.

A nationally recognized credit counseling program should never make payments late. Who were you with before?

With all that being said I am concerned you are just making it month-to-month. All it will take is one unexpected expense and your plan will be scuppered. You need a plan that will allow you to save as well as deal with the debt.

See also  Cyrus Global Says Debt Restructuring is Better Than Anything Else

If this is the time for you to really deal with your debt you might consider the following plan.

  1. If your student loans are government backed you could look at the Income Based Repayment Program (IBR) to lower your student loan payments.
  2. If you can live without your car you could hand it back to the lender.
  3. If you hand the car back and want to avoid the resulting debt from that you could include the big bill to come in a bankruptcy to discharge your remaining debt.

If this approach sounds more like what would fit your situation better then I would suggest you click here to find a local bankruptcy attorney and go discuss your situation with them.

And if you decided to file bankruptcy, as so many others are, it would leave you in a position to begin savings very quickly.

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.


You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.

About the author

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.


  • Let’s just look at the executive board of TASC to see how many are attorney firms debt settlement companies:

    Square One Debt Settlement: No
    Century Negotiations: No
    American Debt Exchange: No
    Freedom Debt Relief: No
    DMB Financial: No

    So let’s go to the TASC board at large:
    Debt Regret: No
    New Era Debt Solutions: No
    Professional Debt Consultants: No

    How About the Largest debt settlement company:
    Credit Solutions of America: No

    By the way, I could not help but notice that you skipped answering my questions again. Do you have something to hide?


  • Gabriel,

    James, the owner of Cyrus Global said you use FBL Associates as the legal support for your program. See his comment here.

    My question to you was they appear to have gone out of business and who are you using now then? Seems simple and straightforward for you to answer.

    Now you are claiming I have family members responding to you are well? That’s simply not true. Another falsehood.

    And while we are talking about untrue statements let me correct you. You said, ” For people reading this all companies in this industry uses a law firm to settle debts.” The truth is most debt settlement firms do not use a law firm to settle debts. There is no need to use a law firm.

    Why is it that you can’t see that your inability to answer questions and provide the proof that you’ve offered to provide only makes the Cyrus Global program look suspect.

    I’m curious, are you just a salesperson for this company? Does James know you are posting this stuff here?


Leave a Comment

Scroll to Top