Weighing the Benefits of Debt Settlement

Help...Anybody!!

We entered into a Debt Settlement program with Brauer Law Offices in April. We changed our phone # to avoid the collection calls and 6 months later, one of the collectors found us (probably from an offer by the law company). Has anyone dealt successfully with this company? We're like a lot of other people in the US....BIG DUMMIES WITH CREDIT CARDS!!, normal and just trying to make it! Elderly mom lives with us and daughter and 2 children moved back in because she can't make it after divorce.

Just trying to live in NC

Sandi of NC @ Oct 06, 2008 21:40:07 PM

Treat people the way you want to be treated.

Unfortunately there has been some unethical practices by the consumer and banks, which has put America in this crisis. Consumers need to be educated on credit and debt management. It's sad because when you turn 16 yrs old you are taught how to drive and all the laws. It should be that way when you turn 18 yrs old about credit and debt management.

People aren't sharing information anymore, unless it for a buck. So many debt and credit companies aren't even taking the time to send literature to educate their clients financially moving forward... and they are getting paid a fee.

Banks should do the same as far as educating their consumers... yes I show Maxed Out. What a mess you have made.

Nobody has really won from this, we all lose when the economy is like this. The Golden Rule "Treat people the way you want to be treated" is so fitting in such times. Now there are a few credit restoration and debt settlement companies doing it right by their clients. Right meaning getting results and setting proper expectations whether good or bad. Two of the best I have researched is CommonWealth Credit Restoration and DebtXscape, both located in Dallas,Tx. Do your research and pay it forward to somebody in need... I do everyday!

Delaneo of TX @ Sep 29, 2008 18:53:31 PM

Treat people the way you want to be treated.

Unfortunately there has been some unethical practices by the consumer and banks, which has put America in this crisis. Consumers need to be educated on credit and debt management. It's sad because when you turn 16 yrs old you are taught how to drive and all the laws. It should be that way when you turn 18 yrs old about credit and debt management.

People aren't sharing information anymore, unless it for a buck. So many debt and credit companies aren't even taking the time to send literature to educate their clients financially moving forward... and they are getting paid a fee.

Banks should do the same as far as educating their consumers... yes I show Maxed Out. What a mess you have made.

Nobody has really won from this, we all lose when the economy is like this. The Golden Rule "Treat people the way you want to be treated" is so fitting in such times. Now there are a few credit restoration and debt settlement companies doing it right by their clients. Right meaning getting results and setting proper expectations whether good or bad. Two of the best I have researched is CommonWealth Credit Restoration and DebtXscape, both located in Dallas,Tx. Do your research and pay it forward to somebody in need... I do everyday!

Delaneo of TX @ Sep 29, 2008 18:53:25 PM

Where's the Chapter About Debt in "Happily Ever After" ?

Money... the main cause for most relationships failing can be rooted to financial problems. It's sad but true. "For richer, or for poorer" may have been part of your wedding vows, but let's face it, most of us dream of the "for richer", and few of us plan for the "for poorer".

Cinderella was saved from a miserably lonely life of destitution by Prince Charming. But if your Prince Charming and you have a mortgage, car payments, and can't afford to heat your drafty castle, it's funny but the story isn't as enticing. The harsh reality of the matter is that even if you were lucky enough to find your prince, life doesn't come complete with a magic wand and fairy Godmother, you can't turn a pumpkin into a chariot, and more likely than not your chariot is probably more of a lemon.

There is hope, don't travel down the path of financial ruin, don't let your prince charming ride off into the sunset without you. Remember, learn to cope with stress, talk about the things bothering you, share something together that you enjoy, even if it's just snuggling on the couch and watching something funny! (I recommend the movie "Money Pit", it helps put things into perspective.)

Today's economy has consumers buried in debt. There doesn't seem to be a light at the end of the tunnel, and it's hard to know where to turn for help. The most important factor is being proactive about your situation. Don't wait until your story reads more of a horror tale, seek assistance from a debt settlement company that keeps you, the consumer, in mind. With so many options available today, rest assured that United Communications offers a debt settlement program you control.

Chris Snow of FL @ Aug 04, 2008 10:18:45 AM

Important Facts About Debt Settlement

Debt settlement is a wonderful financial hardship remedy for some but not for everyone. Debt settlement procedures are an attempt to satisfy a creditor for much less than the principal balance owed, in many cases, 50% or less with a good company.

A debt settlement process usually requires the consumer to stop paying the creditor directly. This will result in a decline of the consumer’s credit rating.

The negative impact on a credit rating usually doesn’t mean a whole lot to a debt settlement client because the client was heading for bankruptcy anyway.

Most people who enroll into a debt settlement program usually only have enough money to cover their necessary monthly living expenses.

Necessary living expenses include mortgage payments, rent, food, home utility services, medical coverage, car loans/leases (so you can get back and forth to work), as well as child support and tax debts. These are your most common major living expenses.

Now, in the case where minimum credit card payments and other unsecured debts get unbearable, debt settlement is a service to seriously consider.

If you choose to enroll into a debt settlement service, make sure that attorneys are facilitating your debt negotiations. Debt settlement is a legal issue, and its best if your have qualified attorneys manage this for you for obvious reasons.

Hiring attorneys also triggers a consumer’s Federal rights. It is Federal law that creditors and debt collectors must deal with your attorney and not you on these matters.

It is extremely important to have attorney representation is debt settlement matters because many creditors will attempt to take advantage of a consumer by attempting to charge illegal interest and fees, all because they do not know the laws.

Also, according to the IRS, you do not have to pay taxes on forgiven debt amounts if you were insolvent at the time the debts were forgiven. Most people that enroll in debt settlement programs are enrolling because they are insolvent.

For more resources, reliable and accurate information regarding debt settlement, visit www.consumerdebtlaw.com

P.Young of FL @ Jul 31, 2008 11:30:50 AM

Finding the right company

Find the right company! I used United Communications for my debt settlement company. So far they have been wonderful! They didn't pressure me, helped me understand exactly what the process was, answered everyone of my questions straight forward. I did my research and found out that what United Communications was telling me was straight up. That's why I went with them. They gave me honest answers. I got myself into a bad spot, but they didn't give me a sales pitch, they actually told me the facts, and let me know what was up. I'm new with the program, but so far so good.

Maggie of TX @ Jul 27, 2008 07:46:21 AM

Save Yourself the Expense

Before hiring a potentially expensive debt-management firm, have a polite and sincere conversation with each of your creditors. Explain the gravity of your financial situation. Often you can work out better payment terms and interest rates yourself.

At the same time, look into transferring balances to low (or even 0%) credit cards. Practice serious self-discipline in reducing expenses and paying these off ASAP, rather than simply making minimum payments.

Finally, break the credit-card habit altogether. Use a debit card if need be.

Credit is the narcotic of choice of the Consumer Age. Just say no. Be a citizen, not a consumer.

MkII of NY @ Jul 24, 2008 03:40:46 AM

Regarding Fairhaven Law Group

I work for Advantage Debt Services... and I look up companies on the BBB all day long could not find Fairhaven Law group. Our company is Members with the BBB. Here is the website... www.adsplan.com you can check out our full company report.

Dan of MN @ Jul 23, 2008 15:43:46 PM