Are any of the debt consolidation/forgiveness programs legit?
The programs that say you can eliminate up to 20,000 or so of ones debt.
Most likely….no.
Now, doesn't that sound a bit too good to be true?
And what have you always been told when something is too good to be true?
These programs involve deliberately ceasing payments to all your creditors to force your accounts into default to attempt settlements for less. You pay a monthly fee to a debt consolidator….this entire fee goes towards building a settlement account and to the consolidator's fees to “settle” your accounts in the future. your credit card companies will deliberately not be paid so that all the accounts will default/charge-off so that they can attempt settlements at around 50%. if you are current on your accounts, this process will ruin your credit rating. You can never predict how your creditors will respond to the deliberate defaulting of your accounts…they might settle at 50%…or they might serve you a summons, take you to court…and if they win, you could be looking at wage garnishment.
A better option may be to enter a debt management plan through a non profit credit counseling firm like CCCS. They can negotiate reduced payments and interest but NOT settlements. use this site for a referral: http://www.nfcc.org
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I'm not sure how "Bills.com" got a Knowledge Partner status without mentioning the real risks involved in using these programs. You can be sued and have your wages garnished if this process fails…many people have been forced into Chapter 7 from a failed debt settlement effort. This person's info is clearly biased. TASC is the trade association of debt settlement companies. it doesn't matter if a debt settlement firm is a member of TASC and/or has a perfect BBB rating…this process is inherently dangerous.
Actually yes, this one is: http://www.individualizeddebtsettlementservices.com
It is a network of independent negotiators. You will speak one-on-one with a negotiator. Only a one time fee and that cost alone is less than any other program offered to date! The best part is, there is no huge company to support, therefore, the overhead costs are minimal, resulting in a very low cost to the consumer. of course, you need to have money you can save to settle the debts, as no one will pay them for you. This is an easy and legal process. Infact, this company settles for 50% or less on all credit cards, minus Discover! Other companies will wait until you get sued to settle because they are too busy taking your money that there is not enough to negotiate. I strongly suggest you check this site out! Good luck!
this can help you to give information about debt consolidation
iwillguide.com
goodluck…….
Are any of the debt consolidation/forgiveness programs legit?
![[Google]]( http://www.solutionsdebtmanagement.com/wp-content/plugins/easy-adsenser/google-light.gif)
I know it's a scam. Call the 800 number on the back of your card and speak to a customer service rep directly.
that is very cool, but looks? expensive
Kucinich is a friggin? idiot!!!!
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I had a collections company attempt to serve me with papers at an old address. A friend who now lives there told me but did not tell them he knew where I was. It is a collections company trying to collect charges on a car that was repossessed 18 months ago. I became disabled and lost my job etc. I know they can get a judgment to garnish my wages, but can they do so without notice? They have placed no notice in the local paper. I am trying to get out from under my debt without filing for bankruptcy, but cannot afford a wage garnishment judgment either – I have a large spousal support and child support bill each month which is also behind so they garnish for 50% of my current pay for that. Am I safe to continue trying to pay of debt until I actually get served or should I plan for it now by filing bankruptcy?
Nope. It will not come at all.
Your employer will be informed they have to send 25% of your gross pay to the injured party.
The IRS will also be informed that 100% of your income tax return goes to your victim.
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PayPal’s Scott Thompson caused a bit of stir earlier this month by predicting the death of his competitors. Well, sort of. Thompson, both in a blog post and a video to his employees (see below), said that PayPal believes wallets will no longer be needed in the US by 2015. The prediction followed on the heels of an announcement that the alternative payment company had reached more than 10 million active accounts. PayPal’s users currently complete up to $10 million in transactions each day, with more than $300 billion expected to travel through their hands in 2011. They’re hoping to reach $7.5 billion via mobile apps by the end of 2013. Along with competition from Google, major credit card companies, and independent smart phone apps, PayPal’s growth is a sure sign that digital payments are going to play a major role in the future of money, but will we really ditch our wallets by 2015? “…We believe that by 2015 digital currency will be accepted everywhere in the U.S. – from your local…
Wage Garnishment- A Simple Understanding ;P wage garnishment
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