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Originally Posted by waltbiggs
I am paying about $3,200 per month on my credit cards and my payments are current. All of my other debts are current as well. What else can I tell you about my financial situation?
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If all your debts are current and you are paying $3200/month, then what's the problem?
Just continue to pay off your debts, paying whatever extra you can spare toward them, and they will be gone.
One only looks for DS companies when they cannot pay and are looking to reduce their debts. The problem is that most of these Debt Settlement companies will ruin your credit because they essentially get your accounts into "non-paid" status where then, they can "deal" with your accounts. In other words, they will ruin your credit. The "unpaid" debt will also be taxed as a gift (something forgiven by the original credit issuing company)... so where do you actually save?
In the long run, you are better off paying your debts and keeping current with them.
If you are looking for more advice, how to save more money to apply toward your debts), then list income, and monthly expenses. Many people here will spot where you might be able to save some dollars to apply toward your CC debts, and therefore help you to pay it off quicker without ruining your future credit and without any costs.