Debt Settlement Companies

[ProfMoneyWise]

http://www.nytimes.com/2009/04/20/business/20settle.html?_r=1&emc=eta1

Be very careful about those who say they have a "fix" to your problem or a "secret" the credit card companies do not want you to know. You really do not have a "right" to pay thousands less than you owe.

 

[PantherWoman]

If this is like a debt termination service where you stop paying all your cc and loans to the companies and pay a monthly pmt to the debt service until you get enough to offer a settlement....DO NOT USE THESE! They will get you sued!

 

[PantherWoman]

AND if you ever do settle with a company for a lesser amount, you have to claim the difference on taxes.