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Topic: wrong forum - sorry anyone ever use a debt resolution company?

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Subject: wrong forum - sorry anyone ever use a debt resolution company?
Date Posted: 5/19/2008 3:54 PM ET
Member Since: 4/17/2006
Posts: 238
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I can't seem to get rid of my credit card debt - no matter how hard I try.  Now with gas prices going way over my head, I feel like I am no longer at neck deep water but drowning.  I've been giving some serious consideration to a debt resolution company?   Any thoughts - anyone?



Edited to correct spelling.


Wrong forum - sorry



Last Edited on: 5/20/08 8:21 AM ET - Total times edited: 3
niffir - ,
Date Posted: 5/19/2008 5:38 PM ET
Member Since: 2/13/2008
Posts: 495
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I have not, but I suspect this is a business in which there are many people looking to take advantage of people who are in need of help.  If I were looking to consolidate/resolve debt, I would look for some government pages on it first to get a handle on what is out there that is legal and safe.

Date Posted: 5/19/2008 7:02 PM ET
Member Since: 6/21/2007
Posts: 2,015
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Last Edited on: 2/2/15 11:32 AM ET - Total times edited: 3
Subject: Good Luck!
Date Posted: 5/20/2008 8:29 PM ET
Member Since: 1/7/2008
Posts: 413
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Some of these companys are REALLY shady!! Shady, becuase they take so much of a commission from you!!  Make absolutely sure that the one you choose is a non-profit and/or federally funded program.  Ask about their commision costs.  High commissions are NOT okay, thats money that is not going to your debt.  Also, consider dealing first with your credit company - explain to them that you are considering goign with a debt reduction service and ask if there is a way taht they can work with you independantly without needing to involve a third party - they may do so and it would look better for credit reporting if that worked.


Date Posted: 5/20/2008 9:23 PM ET
Member Since: 8/15/2005
Posts: 4,469
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I haven't used one, sorry, no advice.  I do know to make any progress in paying off the credit card debt you have to pay more than the minimums--and stop using the credit cards--which gas prices and everything else skyrocketing makes more difficult.  I've always gone with the shuffling to the best interest rate(I think I'm at 5.99% until paid in full(you know, assuming you never ever miss a payment or pay a day late).