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Tag Archives: debt settlement

Why It Makes Sense to Consider Debt Settlement for Second Mortgages and HELOCs

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The debt settlement strategy has generally been limited to negotiation of unsecured debt accounts like credit card debt, store charge cards, personal loans, and medical bills. With secured debts, there is always collateral at stake, in the form of property like a home or vehicle. Given the right of secured creditors to foreclose or repossess property, it didn’t make much ... Read More »

    I Was Building a New House But the Bank Won’t Give Us What it Appraised For So I Put the Rest on My Credit Cards. – John

    “Dear Damon, Was building a new house.. Went to close on long term loan.. The bank would not give us what it was appraised for. I had to you all saving to not lose the house.. I put the rest on credit cards. I could not keep up with card and all other expenses. I went to debt services company. ... Read More »

      My Debt Relief Company Did Nothing But Get Me Sued and Lower My Credit Score. – John

      “Dear Michael, had 730 credit score 1 year ago now about 550 now being sued considering chapter 7 as only option 1. How do I know whether or not my settlement company fulfilled their contractual obligations to me or not? – They said they offered settlements to my cc companies that were refused. Based upon that can I compel them ... Read More »

        I Am a Disabled Vet That Needs Help With Debt Forgiveness and Debt Settlement – Paul

        “Dear Michael, I borrowed $6103 and defaulted on the loan. With interest and penalties the total came up over $20000. I have paid back $9500 with icome taxes and garnishments. They say i still owe them $14501. I wanted to settle and the said they would settle for a lump sum of $9000 or $120 a month for 9 months ... Read More »

          Can My Wife and I Independently Go Into a Debt Relief Program? – Paul

          “Dear Damon, My Wife just closed her business and the outstanding unsecured debt is about 100K. My personal debt is about 38K. I want to go on a debt relief program where a company negotiates a reduced amount and interest. She does not want to do this for her debt load. Can we independently arrange for debt relief? I want ... Read More »

            Debt Settlement: Top Ten Most Misunderstood Facts

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            Over the past few years debt settlement has been in the news, not always in a good way. Many consumers have complained about the services they’ve received while some have been very happy. Much of the disparity in the perception of the service is due to misconceptions about the process itself. So here are the top ten misconceptions I see ... Read More »

              Trapped in a Debt Settlement Contract. What to Do? – Dean

              “I contracted a debt settlement company now that it changed. I signed with them back in May of 2010, this was before the new law changed for settlement companies not to be able to charge up front for settlements. The contract is crazy, and I was stupid to sign it. I was totally delusional from stress and depression when I ... Read More »

                Is Your Old Advanced Fee Debt Settlement Company Secretly About to Fail? What to do.

                photo © 2008 J.B. Hill | more info (via: Wylio)Next month will mark the six month anniversary of the passage of the FTC telemarketing sales rules which changed the landscape in debt settlement sales. As a consumer advocate I don’t think there is any doubt they TSR has had a fundamental and positive impact on the way debt settlement services ... Read More »

                  The FTC Does Not Want Debt Settlement to Survive

                  A tipster (send in your tips here) sent in the following comment I wanted to address. But now that debt settlement is dwindling, it is clear the FTC wants this industry not to survive or rebound. DS needs internet marketing. FTC is shutting down lead gens, who are not companies, and pretty much everyone right now. photo © 2008 Hazrulnizam ... Read More »

                    Debt Settlement – The Tortoise and the Hare

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                    This is a guest post by Michael Bovee from Consumer Recovery Network. Get Out of Debt Guy – Twitter, G+, Facebook Need More Help? Debt Settlement – The Tortoise and the Hare by Michael Bovee Debt Settlement is certainly an effective approach to get from under a crushing amount of credit card debt – for the suitable candidate. Over the ... Read More »

                      SteveSavers – Group Discounts to Save Big Bucks on Debt and Credit Help

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                      Today I’m announcing a new free service of the site, SteveSaver’s. So what is a SteveSaverTM you are probably asking? There are a number of areas that people spend money on credit and debt issues. They spend money on credit counseling, credit reports, credit scores, debt settlement services, etc. So I thought, let’s bring group saving discounts offers to ... Read More »

                        I Was Not a Compulsive Shopper. I Was a Day Trader. – John

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                        “Dear Steve, I’m currently having two debt settlements going on between two cards totalling $14,000. Actually, I had three credit cards when I started the settlement, with a total debt of $19,000. One was settled so far with a balance of $5,500 being settled for $1,700. Still waiting on the other two, but while I’m waiting my credit score is ... Read More »

                          Am I Able to Settle My Debts With My Credit Card Companies Even Though I’m Current? – Kaye

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                          Kaye “Dear Steve, I have $25,000 in credit card debt (that I am current on and make the minimum payments each month). Should I file bankruptcy? Am I able to “settle” with any of these creditors to pay off a lump sum amount that is less than what I owe (if I am current on all accounts)? I am current ... Read More »

                            Lynn is Working With a Debt Settlement Company But Being Sued By Her Creditor

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                            “Dear Steve, I am with a debt negotiation company for over a year and i am being sued for one of my debts, the law office that represents the debt informed me that the company I am paying money to never contacted them when I faxed the letter over a month ago. Now I have been summonsed to court and ... Read More »

                              J Says “Debt Consolidation Screwed Me Over”

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                              J wrote in trhough the site and asked: “I was paying my bills in time, till I decide to go to a debt consolidation program so I can get more money for myself. I was paying them for a year and creditors started to call me that I havent make payments for 11 months so I told about the ... Read More »

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