Credit Counseling or Debt Settlement?
MoneyTalksNews asked:
You’ve seen the ads: credit counseling companies say they can help by getting your payments and interest rates lowered. Others claim they can get your debts wiped out entirely by settling them for pennies on the dollar. Money reporter Stacy Johnson takes an inside look at these companies.
Reader Comments
So do you mean bankruptcy was good or bad for you?
why not just file bankruptcy. When I finished my credit was trashed. Waste of time if you loose your credit rating
debt settlement is the obvious choice. if you dont have the money to do, save up for it.
Great Video! I am using a debt settlement program with Everest Debt Solutions and in the last 8 months i have almost paid off half of my debt! whoever created debt settlement is a genius.
I live in Cerritos CA 90703 and I am drowning in debt. I owe about 50K in credit cards and a second loan mortgage on my house. Does anyone know of a reputable company here in Cerritos who can help me?
Dicegame95,
You can try out the following things.
Go to google search for some Debt Settlement companies operational in CA. Check if they are BBB registered. Go to the BBB website and check if they have any unresolved complaints. We don’t want companies that have unresolved complaints. Make a small list of companies you think that qualify. Now, go to websites like ripoffreport, etc and check if there are any complaints against them. Else, search google again for “company name review”. This should lead you to the best company. I did a quick search for you and got this website. http://www.crusaderservices.com/ Please find out some on your own using the idea above and then compare them to find out who provides best services at minimal fee.
Dicegame95,
Debt settlement companies can only help you with your credit card debt.
For the second mortgage, try the same process but now look for Loan modification company.
They have help you revise your term or interest rate.
Thanks!
bolarobric,
My apologies to you. I got confused with the names. The 2 messages above are intended for you.
Thanks!
James