Unfortunately, we have been spending more than I bring home. Instead of directly dealing with this, I took out cash advances on my credit cards. Then, I took out a personal loan to pay them off. Unfortunately, the same situation arose and then I took out cash advances on my credit cards, followed by a personal line of credit. It got to the point that I had so many credit card and loan bills that I felt distressed.
I enrolled with Freedom Debt relief to establish a debt resolution program. I have been with this group since February but they did not take all of my debt into the program.
I am currently enrolled in a debt resolution program with Freedom Debt Relief. However, after doing some research I found out that National Debt Relief had a better reputation and also take more accounts into their programs.
I have sent a request to Freedom to see if they can accept two more accounts into the program. I just want to have one monthly payment that I have to deal with. Are you familiar with both of these companies and which one would be the better one to go with.
Here are the past posts on National Debt Relief.
I’m concerned your efforts might be a classic example of selecting the solution rather than listening to your situation to determine what is the best course of action for you.
If you are unable to save and build your emergency fund each month and continue to save for retirement and repay your debt then you need to stop what you are doing and read my 8 Easy Steps to Eliminate Your Debt Checklist.
We don’t even know if debt settlement is even the right approach for you and here you are shopping around for another company?
Let’s gather some facts first before you leap to another company.
I would recommend you read the following free guides to evaluate any company you are thinking of working with.
- 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
Only by doing this kind of research will you be able to decipher what the salesperson is saying and filter it through the ability to confirm the statements made.
For example, how does the performance of each company and fee schedules even compare? Just because one company will “handle” more accounts than the other, that is almost a meaningless issue.
The ultimate issue isn’t how many they can handle but how successful the company is at handling the accounts they do assist with.
Go back to the drawing board and let’s start over and get you headed in the right direction first by determining what debt relief approach is the most logical and makes the most mathematical sense.
To put solutions into context, you should also read The Truth About The Success Rates, Failure Rates and Completion Rates of Credit Counseling, Debt Settlement, and Bankruptcy.
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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