My general view is that credit and debt, while related, are two separate
issues. If your ONLY purpose is to clear up old dings on your credit file,
then it’s true that settling an old account won’t remove it or solve that
part of the problem. However, for most people pursuing debt settlement,
credit is not the issue. The real issue is getting rid of the debt. This
is also true for older accounts in a lot of cases. Why? Because an unresolved
debt can follow you around forever. See my recent post on zombie debt for
more on the problem of never-ending collection activity on older accounts.
The issue of credit score aside, settling an old account is simply the most
straightforward means of putting the issue to rest once and for all.

Regards,

–Charles

Let an industry ” expert” tell you that this is just your post tramatic paranoia showing through. Everyone is an expert at something. Even pushing buttons on a remote. But few are the ones who can discuise thier timidity or unwillingness to risk their own social position by associating with you…the jobless one. It matters little if you had anything to do with a management decision to lay off, since no one knows for sure there are typically several variations going around about wh. Some as wild as having a relationship with the bosses wife/husband. As though he/she would even want to.

Those experts, who advise careful study and analysis of many companies before signing on with one, are working inside their security bubble and spewing the same thing stock brokers say about what to do to protec yourself against “downside variations” in the market, “diversify your portfolio.” Bet you’ve never heard that huh? Or the “health providers writing advice on staying healthy, drink at least 8 glasses water a day (8oz ea.) eat 7 kinds of fruit, eat two helpings from each food group, walk a 3 miles 2-3 times a week, don’t smoke and stay away from stressfull situations. Right. Who does that? Who is willing to? Now it emerges, your aging clock is set genitaclly at conception. So, forget about spending the day in the bathroom from all that water and fiber. Eat what you want. In effect, they are dreamers saying how something should be done when the affected person is at his/her lowest level of self confidence and never having had to make such a decision, he/she has no idea how to go about it.

I know from unexpected experience. Having the feeling of some level of personal security stripped away, self confidence shaken to the bone, little to no support or encouragement from former “friends” who perhaps think it is contagious, or has picked up a string of total incorrect infomation quickly slip away. What I have just described.

Realization of the amount of debt occurs within this most venerable period. Anyone who comes face to face with being in debt big time isn’t going to be full of the perfect judgment expected of us.

I am certain many secure experts will advise seeking counseling, nearly everyone suggests that.How can that ever be wrong. Its safe to say all the time. Maybe it is fine however, laying out your hard luck story to a stranger while in a crisis situation is not even on the radar screen.

I know now that your program is the best.

I went to a settlement company who charged $290 a month for 9 months and did not once do any more than send a small workbook of what I had to do. Namely, save, save, save and pay them, pay them and pay them. After paying nearly right at $5,000 during which I had only been able to save les than $3,000, the reality is my debt increased due fees, interest etc. The workbook said ” not expect for them to begin to do anything regarding contacting debtors until about the “^ mon mark. It has now been nine months and here are the facts.
1. There has been no verbal or written communication from them what so ever. None.
2. There has been no aid in developing a budget, nothing in the way of writing hardship letters to debtors. When I mean they have done nothing that means nothing.
3. Beginning to pull out of an unusual mental condition one begins to realize these “settlement” people are preying on those their consultants tell them are in no condition to make good decisions. Think about it, would their efforts be equally profitable if they approached you when you’re in great emotional condition? You are ripe for their picking. They know it, you don’t. End of story.

It does not matter that the company is a member of this organization or that. BBB United Way, received gobs of awards passed around among one another in their own industry. All the neat stamps of approval in the world means nothing and people should realize that. It may really mean that the company in question may have more than one face. Does that surprise you? Perhaps it treats whose in their immediate area of the country differently perhaps than those further away. Not hard to do. And it gets all kinds of good awards, certifications and stamps of approval. They are funded by a much large legitimate APPEARING company. They have an aura of legitimacy.

It isn’t a matter of “being careful” or investigative homework. What you will often find while investiting are self planted happy PR all over the net, PR your banker reads that the company itself produces though “partners in referral” with other companies who of course sing one another’s praises.

I”m tired of typing so I’m going to wrap it up with this. Unless you are a part of that industry or otherwise know it intimately, if you don’t ask questions, you will not be told anything. The problem is, a layman does not know key questions to ask.

It reminds me of the overwhelming belief about whose interests are being served if you went to ANY real estate agency when you moved into a new town and told them what kind of place you are looking for. All the chauffeuring, lunches, happy talk happens and it will likely be years and only then by accident, that you pick up, by accident or overhearing that the agency and the agent him/herself was/is required to be solidly n the corner of the sellers of available real estate. Yep, the agent was working for those who were listing their homes with their agency, and essentially it is in their clients interest and the individual agents interests to show you homes that afford their clients and themselves the most money.

You were just great fodder. Agents work hard but none will tell you when you walk in, that ” You understand, I will be working for those whose houses are listed with this agency.” Yeah.

I hope most people who have been looking for homes via agency already understand that. If they didn’t, maybe they feel ripped of. That may not even be the case with “reputable” companies, but in today’s corporate environment, reputable companies are becoming and oxymoron.

Do yourself a huge favor. Do nothing until it all sinks in. Get some advice and a little education and do your own debt negotiation. Cut out the leaches that knowingly are preying on desperate people.

I fully realize this is hostile and far too long. Whats that you say? I’m irrational about it? Just get over it? Say it at a distance then.

A final note. If anyone tells you that you simply made a bad decision to contract with the company you did, so what would you have society do to help people who make terrible decisisons. You made your bed, go lie in it?

Don’t try to rebut that with words. Remember, avoid stress. Don’t talk, just whop them up side the head and walk away. I guarantee you’ll feel better.