Credit and Debt Blog

(Rolf from Florida) Today I signed a debt settlement agreement on the internet, THEN read about the pitfalls. How can I get out of the agreement before any payments are autmatically withdrawn?

[Read more →]

(Isma from Texas) last year i entered an agreement with ghs solutions. i am being sued by citi bank. i have come up with the money that citi bank will settle with. How do i go about doing away with ghs solutions and if i do that will i lose the money that has already [...]

[Read more →]

(George from Indiana) Do most banks and credit unions front negotiated settlement pay offs with a substantial down payment or are they not looking to attract this kind of business? In other words are the ones that will do a settlement loan hard to find?

[Read more →]

Allegro Law LLC and Allegro Financial Services LLC have been shut down permanently as a result of a lawsuit filed by the Alabama Attorney General seven months prior. According to the office of Troy King, Allegro is one of the “largest debt settlement schemes in the country.”

[Read more →]

Minnesota residents can count themselves among the first in the nation to have new protections against the rogue debt settlement industry. A new law that went into effect August 1, 2009 has blocked the upfront fee model favored by debt settlement companies.

[Read more →]

The struggling economy has made debt settlement is a booming industry. According to New York Attorney General, it is a rogue industry. If you are bound and determine to utilize one of those services, how do you know which debt settlement company is the best?

[Read more →]

(Ruth from Maryland) I signed up with a debt settlement company in Jan 2009. I have settled 90% of my debt myself and want to get back my $11,000 from the company.Do I have any legal recourse? I am 65 years old and this is the first time this has happened in my family.

[Read more →]

(Claudia from Nevada) We already sign a contract with a Debt Settlement Company they will start this Friday, July31 the first withdraw. After reading all this articles I dont know what to do? Our debt is 80,000 in credit cards and personal loans…Any advice, PLEASE?????

[Read more →]

(Terrie from Ohio) I have 4 credit cards that I settled with this past year and I did a short sale on my house. I am trying to bring up my credit score. If I pay on the credit cards so they will say paid in full instead of settled on will this improve my [...]

[Read more →]

Settling on an account may slightly improve your credit score, but it will be far below where it should be had you paid the account off in full. Furthermore, if you used a debt settlement company, then the impact of any settlement will be greatly offset by the legal action that you will likely face [...]

[Read more →]