Posted on
November 17, 2009
at
5:13 am
hi ive seen some pretty nasty reviews about debt settlement - that it's a scam is one and many more..i dont believe some of them. enough with the bad, so what are the pros of debt settlement?
Posted on
November 17, 2009
at
5:19 am
Pros of debt settlement vs. bankruptcy-debt settlement doesn't stay on the public records for 20 years unlike bankruptcy
Posted on
November 17, 2009
at
5:22 am
Pros of debt settlement vs. debt management planYour balance has a chance of being reduced to more or less half as opposed to just your interest rates being reduced.
Posted on
November 17, 2009
at
5:27 am
Pros of debt settlement vs. doing it yourselfDebt settlement can reduce collection calls and perhaps eliminate them altogether. All transactions with your creditors/collection agency is going to be handled by the settlement company.
Posted on
November 17, 2009
at
5:31 am
Pros of debt settlementOne dodges or avoids bankruptcy. Bankruptcy is one of the worsts situation a consumer can be in - side by side with foreclosure. Debt settlement can be an alternative to either/both.Bankruptcy and foreclosure have very significant negative effect on one's credit. A debt settlement appears on the credit report as "settled", "settled for less than the full balance", or "settled in full."
Posted on
November 17, 2009
at
10:32 pm
Debt settlement is
not an alternative to foreclosure. It is only applicable to unsecured debts.If a homeowner has a threat of foreclosure they may be able to set up arrangements with their mortgage lenders. Settling for the payment is not one of them.
Posted on
November 18, 2009
at
6:33 am
Pros of debt settlement: getting to pay off your loans faster. I believe it will take you only 12-36 months to do so.
Posted on
November 18, 2009
at
6:34 am
AM i still gonna get collection calls if I go for debt settlement?
Posted on
November 18, 2009
at
5:50 pm
Marten: Unfortunately that's not one of the pros of debt settlement. You will still be receiving debt collection calls from your creditor. What you can do, though, is simply explain to them that you're currently working with a third party negotiation company. If you want the calls to stop, you need to write them
a cease and desist letter.
