(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? (more…)
Credit and Debt Blog
A Service of Debtors Unite, Inc.
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Archive for the ‘Debt Settlement’ Category
Allegro Seized by Alabama Attorney General
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.” (more…)
Minnesota Stands Up to Debt Settlement Companies
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. (more…)
What is the Best Debt Settlement Company?
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? (more…)
Since I Settled My Own Debt, Can I Get My Debt Settlement Company Fees Back?
(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. (more…)
I Just Signed With Debt Settlement Company–Was it a Mistake?
(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????? (more…)
Will Paying Cards in Full Raise Score More than Settling?
(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 score at all? I know the negative part will be on there for 7 years. (more…)
How Does Debt Settlement Affect Credit?
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 from your other creditors. (more…)
Worse Credit Score Impact: Debt Settlement or Bankruptcy?
(Dee from Colorado) I was told that a settlement I made on my credit card debt will reflect more negatively on my credit report than filing for bankrupsy. Is that true? (more…)
