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Debt Services in New York Says They Can Settle My Debt for Less

Written by Steve Rhode


Dear Steve,

I want to get out credit card debt,making payments but not getting ahead due to interest rates .

I received notice from ‘Debt Services P.O Box 4672 New York NY 10163. claims to settle my bills for less then what I owe. I’m not familiar with this type of payment plans,what happens with my credit score?how does this work?do I keep my credit cards or do they get closed down?



Dear Tina,

I don’t have a clue who that company is.

I would recommend that anyone considering using such a company should read the following free guides.

  1. The Ultimate Consumer Guide to Checking Out a Debt Relief Company Before You Sign On the Line
  2. 10 Must Do Steps to Find the Best Credit Counseling or Debt Settlement Company for You
  3. How to Check Out a Business or Company to Avoid Getting Scammed or Ripped Off


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.

READ  Angela is Worried After Working With a Debt Service Organization

About the author

Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.


  • Tina, your credit score will be impacted in a Debt Settlement program and the cards enrolled and possibly any cards left out of the program will be shut down for purchases. In order for a company to settled debts, and it is a legitimate option if you go with the right company, but in order for yourself or for a company to get a creditor to take less than the full balance owed in the form of a settlement you have to be delinquent on the account. When you fall delinquent on the accounts that you settle will definitely have a negative affect on your credit score, and even if you dont fall behind on certain cards but have fallen delinquent on others creditors see you as a potential problem and may lower your credit limit or completely shut your card down for future purchases. Credit counseling will not have a negative affect on your credit except for the CC listed on your credit report, with the CC you will not be able to get a mortgage, but your score will not be affected. In Credit Counseling you will loose your charging privileges as well, but in certain cases credit counseling is the best option. On another note BK is the best option but do your research on all and learn the differences and choose what option is best for you. I am the owner of a debt settlement company, Consumer Debt Help Association, in Florida. Make good educated decisions!!!

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