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    MARRIP3's Avatar
    MARRIP3 Posts: 14, Reputation: 1
    New Member

    Mar 12, 2007, 11:19 AM
    Debt settlement
    I have just entered a dept settlement program and I am really scared. If any one has gone through this can you let me know if it did work. How long it took? My creditors are Chase and Target for approx 60k My fear is being sued. Also how long does the phone calls last from the creditors?
    Lowtax4eva's Avatar
    Lowtax4eva Posts: 2,467, Reputation: 190
    Ultra Member

    Mar 12, 2007, 11:29 AM
    Do you mean that you have agreed payments with these 2 companies or have a debt settlement program through a 3rd party? They will call, usually, whenever you miss an agreed payment. A bit more info is needed though as I'm not entirely clear on your meaning.
    MARRIP3's Avatar
    MARRIP3 Posts: 14, Reputation: 1
    New Member

    Mar 12, 2007, 11:39 AM
    No As Of Right Now I Am Working With A Debt Settlement Company
    To Settle These Depts Have Have Just Made My 1st Payment To This Company
    I Am Scared Of The Process Actually Don't Know What To Expect
    I Have Just Missed My 1st Payment With The Actual Credit Card Companies
    Lowtax4eva's Avatar
    Lowtax4eva Posts: 2,467, Reputation: 190
    Ultra Member

    Mar 12, 2007, 11:47 AM
    Oh so you went from paying the creditors to paying the 3rd party settlement company. Well I would contact the settlement company and make sure they contacted the credit card companies to let them know the arrangement you have made.

    They should have given you all the details about how the payments work, that you pay them and not chase and target and they take care of repaying your creditors, did they tell you anything about how it works?
    MARRIP3's Avatar
    MARRIP3 Posts: 14, Reputation: 1
    New Member

    Mar 12, 2007, 11:53 AM
    They Did, I Was Just Hoping Someone Had Gone Through A Dept Settlement Program And Can Assure Me That It Does In Fact Work. I Know I Have To Do This With The Rising Interest Rates I Would Never Get These Paid Off
    And How Often Do Credit Card Companies Sue?
    Squiffy's Avatar
    Squiffy Posts: 499, Reputation: 84
    Full Member

    Mar 12, 2007, 12:12 PM
    I have been through two programmes. The first was a disaster, I was paying the company the money but they kept the first months money as an admin fee, and then 25% of my other payments as an ongoing fee. The truth is after many months my creditors had received no money and were not even aware of this company, or that they were dealing with my debts. So I cancelled with them and used the CCCS instead. They didn't charge any fees and took far less money a month and every penny went to my creditors every month. I didn't get a single letter or phonecall after that, and I am now debt free. I am in the UK, but it is worth seeing if there is a charity based company like that where you live.
    FYNALEFREE's Avatar
    FYNALEFREE Posts: 11, Reputation: 1
    New Member

    May 25, 2007, 09:01 AM
    Hello again settlement should only take 36 months if you are in a state that does settlement. I live in Ohio where they do not accept settlement so I did the legal wipe out. I checked out settlement at Debt Relief Educational Services anthony luttrell helped me with the legal dispute process but settlement is something he also does if you are in a state that accepts settlement.

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