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  1. #1

    Credit card and debt settlement markwaugh3

    Hi guys... what's your opinion on credit card and debt settlement program?

  2. #2
    well if your debts are running high then its always better to signup for the debt settlement because not only you get favorable payment schedule and infact many a times lender will not lower your credit rating while sending report to credit bureau.

  3. #3
    For me it is just simple, You used the card, you pay it on time to avoid any other issues. Keep the credit low and according to your ability to pay it back. Only people who have splurging all the time had the common credit card debt most times. Be wiser.

  4. #4
    I know someone who worked with one of the debt settlement companies. All they got was a consolidation of all their payments into one payment which they still could not afford to pay because of the added monthly fees from the debt settlement program. The debt settlement company was only interested in collecting a fee. They didn't provide any help. This person had to eventually file for bankruptcy.

    The moral of this story is that debt settlement programs run by debt settlement companies may not be much better than the credit card companies. This story and others I have heard tell me that debt settlement programs are designed to help the companies not the debtor. You may find an exception or two but I would not count on it.

  5. #5
    True that. Just try and live within your means. It is always my rule in life. Spending some on unnecessary things are done only... and only... during the holidays season. It works for me, or maybe, it's just me.


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