Ask The Get Out of Debt Experts Debt Settlement

Our Constructions Business is Failing. Is Debt Settlement a Scam? – Sherry

“Dear Damon,

We had a good construction business for many years. The last couple of years we had a few contractors who did not pay us. We have gone into debt trying to stay in business and care for our family who has experianced an inordinate amount of personal tragedy this last year. We still have work but alot of debt.

May will be are last mortgage payment we make (oneWest is our lender. Trying to modify but not hopeful.) I want to negotiate payment options but I just dont have the time. I feel the best option is debt settkement but am afraid of scams.

Who would you recommend?

Sherry”

Hello Sherry,

I am a little confused, you are talking about a loan modification and then about debt settlement. Are you referring to debt settlement for the credit cards and then also getting a loan modification on your house?

Please clarify exactly what you are looking for. Also I never make recommendations for specific companies until I have a full understanding of your situation. If I had a dollar for every client that came to me thinking they already knew what they needed but then changed their mind after having me do a full review and make recommendations, I would be doing very well.

The most important thing is to take the time and look over your entire situation, goals and expected future circumstances. Your cash flow has me the most concerned. Unfortunately, when you call a typical debt settlement company they will not ask or care about these things. Usually they just start talking payment plans as if it is assumed that you are going to enroll into their program.

I would highly recommend that you schedule a private phone consultation with me so we can look over everything and create a specific plan for you. If we determine that you don’t need to hire someone to resolve your situation, then that will likely save you thousands of dollars. If we determine that debt settlement does make sense after all, then I can tell you who some of the good companies are and then also get you a very large discount with them because I don’t collect referral fees from them, and instead ask them to give that money to my clients as a discount.

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So talking to me first will save you a lot of money either way and give you a logical understanding of where you stand financially, that you will not get from a sales person.

Damon is a talented independent debt coach that provides in-depth assistance and consultations for people struggling with debt. If you want a personal debt coach to help you through a difficult situation or want assistance to find secret discounts offered by debt settlement companies I think Damon Day is an excellent person to contact for advice and assistance. He can be reached directly at DamonDay.com

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




About the author

Damon Day

Damon Day is a talented Debt Coach who offers fee based consultations to consumers as an alternative to the typical free debt relief consultations which are nothing more than thinly veiled sales pitches lacking any real information to help a consumer make a good decision. You can learn more about how he can protect you from getting ripped off at DamonDay.com

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