Posted on June 25, 2009 at 10:49 am
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Well there is a solution no matter how much debt you are pilled under, you can escape it if the debt settlement company manages your creditor. Besides, a creditor will never seize you property or drag you to the court. All the creditor wants is his money back, and taking you to the court or seizing your property will just let your creditor waste some more of his time and money.
In fact, the creditor always tries to make payment structures profitable for both you and the creditor itself. Thus, do not panic that you are in a deep unrecoverable problem, just stay calm and let the debt settlement company and the creditor do their talking. With the help of Debt Settlement Company you will be out of your debt before you know.
Posted on June 25, 2009 at 12:05 pm
"A creditor will never seize your property or drag you to the court."
Shane- that is 100% false. In fact, all creditors reserve the right to pursue legal action against a debtor if they are behind on payments to try to collect the debt. While it is not common, some debtors have had to appear in court to try to resolve the issue in front of a judge. And, if the debt is left unresolved after a lawsuit has been filed, a creditor can get a judgment against the debtor and attempt to execute that judgment to satisfy the debt. One way they can execute a judgment is through a property lien. And in some states (depending on state laws), the creditor can even force the sale of the property, and use the proceeds from that sale to satisfy the debt.
A debt settlement company cannot prevent legal action from happening. What they can potentially do is resolve the debt through a settlement or payment plan before the case ends up in court or before the creditor attempts to execute a judgment.