I’m on Welfare. Debt Settlement Companies Tell Me They Can Get Rid of My Debt. – Kevin

I am medically unable to work and I collect a small amount from welfare (not nearly enough to pay all my bills) until my disability benefits are approved. I need over $400 monthly to pay my bills and I’m given less than half that to pay them. I have about $8500 in debt split over 4 credit cards and 1 loan. I have talked to several debt settlement companies and I have been told I can settle my debt for a reasonable monthly payment that I can handle.

Several lawyers told me I am Judgment Proof and I should follow that route. After reading a lot about Judgment Proof, although I am eligible, I don’t know if that’s what I want to do. I’ve done a lot of thinking and research on what my options are and just can’t decide what to do. I have to do something about my deteriorating financial situation before it’s too late.

With everything you know and from what I’ve told you, what do you suggest?


This reader question was submitted for site members to answer.

This is your chance to be a hero and help out this person by providing your feedback and answer to the question. Post your response in the comments section below.

If you have a credit or debt question you’d like to ask just use the online form.

Damon Day - Pro Debt Coach

Follow Me
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.
Steve Rhode
Follow Me
See also  I am Disabled and Worried About Paying My Credit Debt. - Patricia

Comments are closed.