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Debt Settlement

Morgan Drexen Lied to Me. What Can I Do? How Do I Get My Money Back?

Credit Card Financial Relief Planed Flag

Question: Dear Steve, I entered into an agreement with Morgan Drexen for debt settlement. I paid them in excess of $3000. and they did nothing to help me. They lied to me several times regarding where my money went. What recourse do I have? Thank you. Answer: Normally I’d suggest you follow my guide How to Try to Get a ... Read More »

    When To Do Nothing About Overwhelming Credit Card Bills


    I answer many reader submitted debt and credit questions that are submitted to my site using the “Ask Michael” feature. From time to time I receive enough information of someone’s current hardship, as well as a clear picture of monthly cash flow and bills, to be direct with my feedback, rather than offering generalities with my own follow up questions ... Read More »

      Should I Eliminate My Debt With Debt Settlement or a Debt Negotiator?


      “Dear Steve, I am looking for help to get my debts in order. I owe approx. $30,000 (9) credit cards, (1) loan. The accounts are all closed and are shown as being charge offs. I don’t know if I should go the Debt Settlement route or Debt Negotiator route. I’m starting to get phone calls and letters from these creditors ... Read More »

        How to Call Your Bank and Negotiate Credit Card Debt Yourself


        If you have been following the early tips I suggest for how to negotiate and settle directly with your credit card bank, you have already had several “just calling to keep you posted” conversations with your bank (I recommend you call your lender once a month, or every several weeks, up to month 5 of being late with payments). If ... Read More »

          Want to Settle Discover Credit Card Sending Dispute and Debt Validation


          This post was inspired by my comment exchange with a site reader about negotiating a settlement with a Discover credit card that is now in the hands of a collections law firm. My comment would have been too lengthy a reply on the page the discussion originated, and this is also something that is not all that topical to the ... Read More »

            Settling a Three Month Old Debt

            Debt Settlement Advice

            “Dear Michael, I have just sold some real estate and I would like to can I negotiate to reduce the balances of my (unsecured and secured) loans BEFORE I pay them off? Is this possible? Patti” Creditors agreeing to accept less than the full balance of what you owe them, when they have not been paid for 90 plus days, ... Read More »

              Ferry & Nichols Said Barclay’s Bank Sued Me. – Amanda

              Screen Shot 2013-12-18 at 10.49.12 AM

              “Dear Steve, I just received a letter in the mail from Ferry & Nicholas, Inc., which reads almost identical to the letter from them posted on your website. They indicated Barclay’s Bank has filed a claim against me and the Sherrif will serve me soon. They also stated the creditor may attach my checking account. They provided me a case ... Read More »

                American Debt Mediators Scares Woman

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                “Dear Steve, She has been scammed, and it is affecting her health. I sometimes wish I hadn’t said anything to her. Please advise me how to help her. I have worked in small claims court and have a feel for the process. But I told her this was a scam and now she is scared to death. I need to ... Read More »

                  Can I Trust Debt Settlement Companies Who Promise Big Results? – Lisa


                  “Dear Damon, I am $30,000 in debt. What would be your advice in dealing with companies of debt settlements who claims to reduce your debt by 50% and charges you 20-23% interest if your total debt? Lisa” Hello Lisa, I think a majority of debt settlement programs are bad news. I can comfortably say that you should stay away from ... Read More »

                    We Are On Disability and Social Security and the Debt Settlement Company Says They Can Help. – Brett


                    “Dear Damon, I am on disability with a an income less than 30% of my working income. My wife has a start-up business that continues to lose money and has been unsuccessful at finding a job. During the last 6 years on disability we burned through our savings as well as accumulating about $200,000 in unsecured credit card debt. Although ... Read More »

                      I’m Think About Using National Debt Relief. How Will It Hurt Me? – Steven


                      “Dear Steve, I am reaching a point with my debt that I am unable to get out from under. I am maxing out and while I can current on all cards and making more than the minimum payment, am never going to get out from under given that my current income is only about half of what I use to ... Read More »

                        Can I Negotiate a Settlement With My Own Credit Card Companies? – Larry

                        puzzled looking little boy looking to the left

                        “Dear Michael, I have the great deal credit debt – long story – used a number courtesy checks against these credit cards to add monies into company believing I would pay them off. Well that did not happen, so I have been paying monthly and these amounts – never go down due the interest rates. Instead of using one of ... Read More »

                          My Debt Relief Company Vanished and I Want My Escrow Money Back. – Julie

                          Where did my debt relief company go?

                          “Dear Steve, I cannot get in touch with my debt relief company. I have 1900.00 built up in my escrow with my debt relief co. I have tried to get in touch with them, for status updates, with no response. The numbers are disconnected and I get no response when I mailed a letter to the address. should I stop ... Read More »

                            I Enrolled With Freedom Debt Relief and Now I’m Thinking About National Debt Relief. – Marty

                            stolen idea

                            “Dear Steve, 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 ... Read More »

                              Will American Express Settle With Legal Helpers Debt Resolution? – Dave


                              “Dear Steve, Signed up almost 3 yrs ago with Legal Helpers Debt Resolution. Almost at the end of 3 yr contract. Started with 5 CC accounts. Now only 2 left. LHDR negotiated 3 (2 to go). I still have 2 CC debts to settle. One is for 13K (they have not been agressive and have not taken any legal steps ... Read More »

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