Bankruptcy Alternative: AKA Debt Settlement

Hi to all… I am somewhat a newbie here, but by no means a newbie to DEBT. My husband and myself had over $42,000 spread over 27 cards. We have been with a debt settlement company now for two years. So far so good. I have been hearing a lot about debt settlement companies going under lately and consumers losing out big time. To anyone considering this please check out the company by visiting the BBB site and seeing if they have any complaints pending against them. The rules vary from company to company. Some will only take cards that you owe $1,000 or more on while mine will accept balances as low as $500.

Most tho require you to be $10,000 in debt or greater before they will consider you and with no hope of ever catching up on the cards. I don’t know about others, but mine required me to write a letter stating why I was in so much debt, and what my monthly bills were…. and what I wanted my monthly payments set at, where as CCCS set the payments themselves.

What most people don’t know is that CCCS will show up on your credit record as a bankruptcy…. They aren’t gonna tell you this… naturally…. CCCS works FOR your creditors… the creditors pay them so much for handling your debt. I did read an article earlier this year where Cambridge went under. It was in Family Circle or Womans Day…. Back in Feburary I think. This is getting long so I will start another post…………..