Debt settlement companies

[flyinbroke]

The same lawyer who quoted me 2400 listed "do nothing" as my list of options (the others were a 7, which I do not qualify for, a 13, a DMP which I would not be able to afford, settlement which he said was a scam after I did.) He did mention that I had no assets, no house and am in a state where wages cannot be garnished (which I am aware of.) He said it is common for CCs to sue but that sounded like a fear tactic to have me hire him on the spot. I do know they sue. I also know that a lot of them don't...if they do, it is a long time running. They like small claims here and the second someone answers, their court date is set a year or two into the future. Most of those in civil court are businesses (the exception being Chase, who sues everyone.)

I am waiting a while, shopping for an attorney, and paying off my car....I did not want to include a nearly paid off car in a 5 year plan. Calls are a PITA, but a disposable phone with the ringer turned off and I hear nothing. Most call anonymously so I don't bother answering regardless.

[DYLAN150]

I e-mailed about six different companies the questions listed below last week and so far no replies.

I have read a lot about your program. How are you going to make the creditors/collectors not call me? How are you going to stop a lawsuit after my account goes unpaid for 6 to 9 months?

[keepswimming]

We have been working with a debt settlement company since last may. paid them about $4k, settled one small account for 50% at 400.00, and am due to pay the last payment of 260 on a chase settlement. We met with an attorney for pre-file.

Attorney told us that if we are going to file (straight-forward chapter 7 highly likely), then we should not pay any of the unsecured debts from here out. The only way we have been able to is because our church has been helping us. I hate that we are so close to settling with one, but with 13 others in line and no way to pay them, I guess it's time to call it done.

[ryan]

....I hate that we are so close to settling with one, but with 13 others in line and no way to pay them, I guess it's time to call it done.

From what I've read, this is the whole problem with debt settlement as its usually attempted.. debtor has 8 or 10 or more creditors and is able to settle one or two, but as the time drags on, at least one creditor decides to sue.

Then what do you? probably what you're coming to terms with. This is why I've pretty much abandoned the whole idea.

[forgotten]

From what I've read, this is the whole problem with debt settlement as its usually attempted.. debtor has 8 or 10 or more creditors and is able to settle one or two, but as the time drags on, at least one creditor decides to sue.

Then what do you? probably what you're coming to terms with. This is why I've pretty much abandoned the whole idea.

Exactly. It only takes one creditor to not want to play along. Plus, they now know you have money to pay a debt settlement company so if they get a judgement they can try and garnish your wages to take that money instead.

[keepswimming]

would it help to know that the only way we were able to play the settlement game for a bit is because church paid for food and living expenses?

[HHM]

allow me to be blunt, why are you wasting the church's money to try a settlement program that doesn't work ;)

[keepswimming]

exactly! if i had money, i could settle, and would not need anyone to "help" me do it. but since i have no money, it is all pointless!