Posted on
May 19, 2010
at
8:06 am
Hi can you discuss the advantages of debt settlement versus credit counseling?
Posted on
May 19, 2010
at
8:27 am
advantages of debt settlement versus credit counseling?- hello! Well for one,debt settlement can cut the entire balance into more or less half. While credit counselingcan only negotiate the interest rates ..
Posted on
May 19, 2010
at
8:38 am
advantages of debt settlement versus credit counseling - in terms of program length debt settlement takes 3 years or less, and credit counseling DMP takes 3-5 years.
Posted on
May 19, 2010
at
8:41 am
debt settlement versus credit counseling - in terms of service? - I heard that with credit counseling, the sign up process is just a click away, convenient but the consumer's situation does not really get assessed, unlike in debt settlement, which invests in customer service, the consumer first goes through an initial debt consultation.
Posted on
May 19, 2010
at
8:44 am
With credit counseling Debt Management Plan, the consumer gets booted out of the program for one missed payment. Which from what I've heard is a frequent occurrence as the plan lasts for 5 years. Debt settlement having a different fee structure does not have the same issue.
Posted on
May 19, 2010
at
8:47 am
I agree, the drop out rate is also high with credit counseling, as most creditors won't work with the cc agencies. While debt settlement companies, with its preference or requirement for past-due accounts, deal with third party collection agencies, that don't have a choice but to settle.
Posted on
May 19, 2010
at
8:49 am
If you are receiving collection calls, I'm not sure if credit counseling agencies can do anything about them, but debt settlement companies would at least try to minimize the calls. Both debt relief programs though are good alternatives to bankruptcy. It just depends on your needs actually - your total debt amount and account status. If it's relatively big like $10k, go with debt settlement.
