We are $60,000 in debt with credit card bills. The payments are getting overwhelming to where we are using the credit cards to be able to make all payments. We have excellant credit at the moment but I just don’t see an end in sight except for getting the help with a debt settlement co. We understand what will happen to our credit but are willing to sacrifice that to get out of this situation.
My question is will these credit card companies garnish your wages while you are working with a debt settlement co? I am concerned about that. I am very nervous because I have never not paid a bill but even if we didn’t do this we would only be able to make partial payments as of now. What advice would you give? The other question is how to find a legitimate debt settlement co? That is how I found you, by doing some research for advice. I did receive an email from Scott recommending Pacific Debt Inc. Do you agree?
Thank you so much,
The only tool which has any legal power over creditors to intervene in your debt is bankruptcy. A bankruptcy would terminate your contracts with your creditors, prevent you from being sued, and avoid any judgment or wage garnishment.
It doesn’t matter what debt relief company you are working with. What the third-party company is attempting to do is work with/between you and your creditors to negotiate a mutually agreeable solution.
But if you default on your debt your creditor can do exactly what they said they would do in the agreement you entered into with the creditor. This may include suing you and going for a judgment and wage garnishment.
I do know some people at Pacific Debt. I’ve known them to be a very hard working group that strives for exceptional customer service and they want to put the consumer first. Honestly, the only downside is that to accomplish that goal their fees are on the high end. But only you can determine what is the best company for you to work with.
Please post your responses and follow-up messages to me on this in the comments section below.Big Hug!
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