Debt Settlement & Credit Counseling Companies

[boosami]

I am tired of the fake users posting spam about the topic, and I am ready to settle this one once and for all.

Consumer Reports, an independent, non-profit, trusted group since the 1930s advises consumers to stay away from debt settlement companies, and in the March 2009 magazine listed them as scams to avoid.

Are you struggling with debt and cannot make ends meet? Have you cut out luxuries and still can not afford to live and pay your creditors? Here is what to do, in order, based on advice by Consumer Reports:

1. BUDGET: Budget your money and try to make ends meet. If you need help, post your information to this board and we will help you. Read the tips on being frugal, and try to amend your lifestyle if necessary. If you do not change what caused the debt in the first place, it is not worth getting rid of it because it will come back.
2. NEGOTIATE: Try to negotiate directly with your creditors to lower interest rates, or come to a compromise on some sort of payment plan that reduces your payments/interest. Call, ask to speak with a manager, and explain your situation. They do want to be repaid and will often negotiate instead of taking a loss by sending an unpaid accout to collections.
3. GET HELP: If you are unable to negotiate successfully yourself, get a non-profit credit counselor through the National Foundation for Credit Counseling (www.debtadvice.com). This is often free, or provided with minimal fees that are not based on the balances you owe.

3 steps--that is all. End of discussion.

Source: Consumer Reports: Article on Debt Settlement Scams

[disneysteve]

Originally Posted by boosami

I am tired of the fake users posting spam about the topic

Thank you. I'm tired of it all, too. Jeffrey, can't the moderators have the authority to just delete these threads when they start. They all seem to be from new users making their first post. Just delete them.

[Joan.of.the.Arch]

Indeed!

[jeffrey]

Originally Posted by disneysteve

Thank you. I'm tired of it all, too. Jeffrey, can't the moderators have the authority to just delete these threads when they start. They all seem to be from new users making their first post. Just delete them.

It's a tough call that I struggle with on a daily basis - I understand the frustration, but at the same time I don't want to delete a post from someone that really is looking for information because some of are legit (I have accidentally deleted ones in the past I thought were spam to find out they were not). If the post is within our basic forum rules and isn't promoting a specific site, then I tend to leave them live.

This thread should be very helpful - we can now simply post this url for any questions like that

[disneysteve]

That works.

Of course, the other thing would be if all the regulars just ignore these threads. Don't post to them, even to say it is a rip-off, because that just keeps moving it back to the top. Ignore them completely and they'll fade away.

[creditcardfree]

Can we make this thread a sticky?

I agree with Steve to ignore the ones that appear not to be legit.

[Broken Arrow]

Again, CCF beat me to it. I nominate to make this thread sticky.

[creditcardfree]

Oops! boosami, I replied to that other thread and if I had known it was a duplicate I would have never done so. I see these posts are a bit sneaky! I will refrain from future such questions. Again, sorry.

[RedThunderBird]

I almost replied to that post , until I saw Jeffrey link , and I got here , and now I know the meaning of another expression in a forum " sticky " I have to goggled it , this a total new experience is like the novel A clockwork orange with all this expressions ---- so I say make it sticky .