I am approx. 30,000 in cc debt.Am cuurrent with payments but future doesnt look so good. Needed money for medical bills and to keep operating my business-excavating.
I am looking for a good debt settlement program-is the NFCC something to consider or is there others.
When you mention NFCC I believe you are referring to Consumer Credit Counseling Service (CCCS), which are essentially franchise offices of NFCC.
I am not aware of an NFCC office that offers debt settlement services where you enter into an agreement to settle your debt for less than you owe.
These offices offer the traditional debt management or credit counseling program. My concern over their activities is that they are probably under the most creditor control of any debt management company. They have a tremendous void in their criticism of creditor activities and while they offer casual consumer advice, I challenge you to find any evidence where they have been proactive in helping to stamp out mainstream creditor actions which harm consumers.
They don’t want to rock their funding boat. You see, a large part of their income comes from money paid back to them from the creditors as a result of collecting money from a client in a debt management program and returning it to the creditors. This becomes nothing more than fee for service debt collection work under a tax free not-for-profit umbrella.
I think you may be better served by seeking debt management help from an agency that is an independent, rather than a part of NFCC. They may provide you with greater representation. Click here for debt management information. Or if you want to examine debt settlement options further, click here for debt settlement information.
After you evaluate what options are available to you in a debt management plan (DMP) you should also talk to a bankruptcy attorney to learn if bankruptcy might be better for you in your current situation. Most bankruptcy lawyers offer a free consultation to discuss if bankruptcy is right for you. Only after you have explored both options will you be better able to decide which path is best for you to follow.
Thanks for the question.