Our financial situation has totally changed in the last 3 years. We are making 15-20K less a year and our expenses have increased.
We currently have about 39k in credit card debt. We are no longer able to pay even our minimum payments as well as all other househould bills. We are thinking of doing debt settlement, but are very concerned about finding a reputable company. Help! Is this the way to go?
Maybe but the reality is you have to find the right tool for the right situation.
I’d suggest you first read How to Get Out of Debt. The Honest and Unvarnished Truth and The Truth About The Success Rates, Failure Rates and Completion Rates of Credit Counseling, Debt Settlement, and Bankruptcy. They will give you a great overview of what we need to deal with to get you moving in the right direction.
Then use the free How to Get Out of Debt Calculator to review your options.
Once you’ve identified a company you want to work with, then follow my step-by-step guide on what you should look for and expect from a good debt relief company.
Please post your responses and follow-up messages to me on this in the comments section below.