have been following ur video for a while now, I'm actually doing this settlement w/my mother's account, Chase Bank doubled her & rate from 12% to 24% overnight & she never missed a single payment in the past, she still managed to pay the bare min with the higher % rate even after she was injured at her work, while on disability she receives less then what she used to make, I advised her to stop payments, it's been about 8 months now, & only account is at collections, am I doing the right thing?
In general most people are not smart enough to work with and settle with the creditors. AND people in "financial hardships" are not disciplined enough to save the money needed to settle, They would much rather pay for groceries or keep up on the mortgage. That is why Debt settlement company work so well, because it helps put consumers in a STRUCTURED settlement program, Consumers in need of debt relief need structure they need help. trying to settle on a consumer level works, but its hard
I have a total of 25 thousand in credit card debt. I stopped paying on them in january 2010. My husband had to close his business and I just don't have the money. They have offered to settle for 45% of the debt but I still don't have any money. When they call I tell them to send my bills to the White House.
@amyntazoe Same here, I had a couple thousand less in credit card debt than you did. Got laid off in May 2010, defaulted on credit cards at the same time. They were willing to settle for less, but I had no savings so that was a no go. Now all of my primary lenders have sold evidence of debt to third party collection agencies. For the last 2 months, I've been sending out letters of validation to the debt collectors, if they cannot validate the debt, I don't owe them a dime.
@poopstreek Not yet. It cost money to file bankruptcy, funny. Starting it next month. When bill collects call me I tell them my address changed and to send my mail to 1600 Pennsylvania Ave etc.
I did, I ran up at least 25thou in credit card debt over 7 yrs. Thats not even including my debt in my business.
amyntazoe 1 year ago
have been following ur video for a while now, I'm actually doing this settlement w/my mother's account, Chase Bank doubled her & rate from 12% to 24% overnight & she never missed a single payment in the past, she still managed to pay the bare min with the higher % rate even after she was injured at her work, while on disability she receives less then what she used to make, I advised her to stop payments, it's been about 8 months now, & only account is at collections, am I doing the right thing?
obby79 1 year ago
In general most people are not smart enough to work with and settle with the creditors. AND people in "financial hardships" are not disciplined enough to save the money needed to settle, They would much rather pay for groceries or keep up on the mortgage. That is why Debt settlement company work so well, because it helps put consumers in a STRUCTURED settlement program, Consumers in need of debt relief need structure they need help. trying to settle on a consumer level works, but its hard
Matt007az 1 year ago
slavery
galations 5:1
jerktrucker 1 year ago
I have a total of 25 thousand in credit card debt. I stopped paying on them in january 2010. My husband had to close his business and I just don't have the money. They have offered to settle for 45% of the debt but I still don't have any money. When they call I tell them to send my bills to the White House.
amyntazoe 1 year ago
@amyntazoe Same here, I had a couple thousand less in credit card debt than you did. Got laid off in May 2010, defaulted on credit cards at the same time. They were willing to settle for less, but I had no savings so that was a no go. Now all of my primary lenders have sold evidence of debt to third party collection agencies. For the last 2 months, I've been sending out letters of validation to the debt collectors, if they cannot validate the debt, I don't owe them a dime.
rayme4raw 1 year ago
@amyntazoe The White House swiped your card for 25,000$?
poopstreek 1 year ago
@poopstreek Not yet. It cost money to file bankruptcy, funny. Starting it next month. When bill collects call me I tell them my address changed and to send my mail to 1600 Pennsylvania Ave etc.
amyntazoe 1 year ago
@amyntazoe I don't get it... Did you run up 25K in credit card debt, or didn't you?
poopstreek 1 year ago