Posted on
July 27, 2009
at
2:19 am
Hi, can you tell me what enrollment with a debt settlement company amounts to?
Posted on
July 27, 2009
at
2:23 am
Debt settlement amounts...Were you asking if debt settlement is a legitimate business or a scam, or was your question pertaining to whether or not an enrollment in a debt settlement program would amount to you getting rid of your debts finally or if it would amount to nothing at all?
Posted on
July 27, 2009
at
2:30 am
When one speaks of debt settlement amounts, I believe that one is referring to how much a debt settlement company can settle a consumer's balance, or how much debt a consumer should have before a debt settlement company accepts his/her enrollment. The answer to the first question is it depends on several factors, but generally, the balance can be reduced to 50% and the amount of debt needed to be accepted in a debt settlement program is $10,000.
Posted on
July 27, 2009
at
2:38 am
A successful debt settlement amounts to you not having anymore obligation (to pay) to your creditors. It also amounts to your credit score being impacted negatively due to a long period of non-payment. On the brighter side, debt settlement amounts to you not going through the bankruptcy route, which is the worst debt relief option.
Posted on
July 27, 2009
at
2:48 am
I wonder if you are asking what the amount you'd pay the debt settlement company when you enroll in their program? How much they are going to charge you? It depends on the company, but it is 15-25% of the customer's total debt amount, generally.
Posted on
July 27, 2009
at
2:50 am
How do debt settlement companies collect their service fee from the consumer?
Posted on
July 27, 2009
at
2:57 am
To answer The Question, majority of debt settlement companies charge about 15% of the total debt amount for their fee, which is usually spread out over an extended period of time and is included in the consumer's monthly payment. Settlement companies also charge a percentage of the settled amount, 20-25% of usually.
Posted on
July 27, 2009
at
3:12 am
Debt settlement amounts to-- you just dealing with credit repair after. No more debts. No more collection calls. No more threat of lawsuits. And as one of the previous posters have said, repairing your credit after a settlement is much better than if you were coming from a bankruptcy discharge or a foreclosure..
