Debt settlement companies

[breeze]

Goes into effect in October

 

http://www.dailyfinance.com/story/credit/d...iness/19613606/

[AnonymouslyIndebted]

Thank you for sharing this Breeze.

 

This is good news for those who hasn't taken the services of a debt settlement company yet, like myself. But bad news for those that has hired a company already.

 

I hope this new development will be published and announced as aggressively as the debt settlement company advertises their services.

[Guest TMax123]

Is this a good way to go through debt settlement?

[breeze]

I think if you are wanting to settle, you can do it yourself, rather than pay someone else to do it. There are posts in here about how to do it - you want to negotiate something you can afford, and terms that prevent them from coming back for more - they have to agree not to sell it or try to come back and collect the rest of it. You should try to negotiate favorable credit reporting, as much as possible. Most will want to report the debt as settled for less than owed. You might get them to agree to report a 0 balance.

 

Many companiies are offering settlements if you are in default, and usually the longer it's in default the better the offers get.