are these company,s on the up and up.such as freedom debt ,where as they say they can reduce your balance by as much as 40 to 70%. anybody ever try them .
Its a scam... Basically you pay them, they hold on to your money for you. They wait for your creditors to get more desperate and then offer some of YOUR money to settle and the pocket the difference. Nothing you cant do on your own. Wait till the debt is sold 1 or two times and settle for pennies on the dollar. But dont give that scam company your money to hold Mike
So you would suggest not paying your balance until the debt is sold a couple times so you can pay it off for much much less? Won't that totally ruin your credit?
What did you think? You could borrow $1000 pay back $400 and it wouldn't affect your credit report? You could also declare bankruptcy and pay back $0, if you're looking to get out of paying what you borrowed. You need to decide what's more important: keeping money in your pocket now or having a good credit score so you can borrow money later. Which one is more important depends on your particular situation. The thing to remember when you're deciding between buying food, paying rent/mortgage or paying credit card bills. You need to eat and stay warm NOW. If your credit score tanks as a result, so what? You shouldn't be borrowing money in that situation because you'll most likely be borrowing at some usurious rate which just puts you in a worse situation. Hopefully, you're situation isn't so dire, but if it is, forget about your credit report and stay warm. Even in the worst-case scenario (e.g. bankruptcy or judgments), your credit score will recover eventually. I went from bankruptcy to over 800 in about 10 years (and then back to 580 and up to 720, etc. Asà es la vida In spite of all the hype (from the companies who just happen to sell your credit score), it's just a number and, while it's an important number, there's more to your life than your credit score.
I found this link from two years ago... Debt settlement: A costly escape - MSN Money and this one from last year... Debt Relief Can Cause Headaches of Its Own You might want to put Google to work for you before proceeding.
ccbob is my picture on their web site,i could give a lecture on what not to do,only i did it twice.people think they improve their credit.NO NO NO!!
