Settling Debt?

[melissand426]

Anyone have experience settling their credit card debt and want to share their experience with me? I have about $23,000 in credit card debt - and because I have been out of work and some family medical issues, we have fallen past due about 5 months. We are getting tons of calls from collectors - some of the accounts are now with collection agencies. I have been doing a ton of reading about settlements and have spoken with a debt settlement law firm and another debt settlement company that is not legal firm. One of my friends went though a settlement company and they settled her accounts for like half of what she started with. I'm just a little nervous and don't like that the fees for these type of companies seems high. Is it possible to do settlements on your own? Any feedback would be greatly appreciated. Thank you

[jeffrey]

http://www.savingadvice.com/forums/debt/46985-debt-settlement-credit-counseling-companies.html

[melissand426]

thanks but...

that info is from 2008 or 2009 isn't it? That seems a little old to me. Since everything changes so quickly I would assume the info about settlement and settlement companies are different now than 5 years ago?

Anyone else have some helpful information for me? Thanks in advance!

[jeffrey]

Nope -- things are still the same and the information there is still accurate. There is a reason that we have it stuck at the top of the debt forum -- this question is asked a lot.