“Dear Steve,
I have several payday loans and four credit cards. have been talking to AmOne, ScoreSense, Pay Day Loan Debt Assistance, and Consolidated Credit Counseling Services. The constant phone calls from all of them are driving me crazy. I can’t decide whether any of them are legit and will be able to help me or if I should just keep paying what I can. I have about 30k credit card debt and 5k payday loans.
Are any of those companies legit?
Bonnie”
Dear Bonnie,
It appears you are working the problem the wrong way and shopping for a company rather than figuring out what is the best solution and the looking for the right person to help you implement that solution.
As far as checking out companies goes read the following free guides.
- The Ultimate Consumer Guide to Checking Out a Debt Relief Company Before You Sign On the Line
- 10 Must Do Steps to Find the Best Credit Counseling or Debt Settlement Company for You
- How to Check Out a Business or Company to Avoid Getting Scammed or Ripped Off
If you want to figure out the best way to tackle your debt I’d suggest you first read How to Get Out of Debt. The Honest and Unvarnished Truth, How Do I Get Out of Debt Quickly? Change Your Mindset, 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.
Please post your responses and follow-up messages to me on this in the comments section below.
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.
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Bonnie,
Take advantage of the articles that Steve has provided on this site. And personally as one who is currently having problems myself, I would NOT suggest using any of these places who say they can help you. I almost got sucked in. Try to deal directly with the credit cards to see if you can get a lower interest rate. And with the payday loans, each time you go back to pay and have to renew, try and renew for less and pay those down. And actually, if you have read some of the comments that Steve has made here to other people and in his articles, it seems to me that you may want to consider bankruptcy. It isn’t the ugly word anymore. Since it looks like your debt is unsecured it may be the best. However, I am not a professional adviser, so take what I said with a grain of salt, and as someone who is in your boat . I considered bankruptcy, but because all my debt was secured it really wouldn’t have helped in my circumstance. Good luck and pray. it does help.