Many people have a sour taste for debt settlement Companies and the simple reason for that is because they are famous for not working. Agencies and  settlement attorneys will charge you a considerable fee when you are down at your lowest point, typically 15-25% of your credit card balance due.

E.g.: you owe $10k on credit card(1) and want to settle. Using a settlement company, attorneys or credit counseling they will typically take $2k, while the “do it yourself process costs you nothing just 180days of patience.” In addition, that $2k will stay saved in your bank account to negotiate other credit cards down the road.

That $2k saving will help to negotiate another $5k-$6k credit balance that is due on another card(2). Can you see now how bad these companies are and how they make all this money? You do not need those agencies or attorneys because you can do this simply, on your very own, with basic tools to protect yourself.

* Now, why doing it by yourself like we did vs. hiring a debt management program or settlementt attorneys is the best option!

• For one thing, these programs charges 20 to 25% of the original balance as a fee.
• They ask you to pay comfortable monthly payments for years and only settle accounts, most of the time for only 50% or more by the time you add their fees.
• Credit card companies have less patience dealing with these institutions. They would rather deal directly with their clients. So dealing with the expensive debt management program has a negative effect and could back fire on you, usually sending your account more quickly to collection agencies that will pursue the accounts in a more aggressive fashion than by doing it yourself.

So:

*Do you want to avoid bankruptcy?
*Do you want to rebuild your credit between 24 to 30months from the settlement date at or before charge off vs. the 10years bankruptcy mark on your credit?
*Do you have more than $5k in credit card debt?
*Are you at the stress point financially? This is where my husband and I were before starting our relief journey into doing our own settlements.
*Do you want to finally find within 6-8months, a final closure to your debt by negotiating the final amount owed for only 50 to 20% of the original balance?
*Do you want to learn what needs to be done with the negotiation process, what to say and when? How to protect yourself with the right settlement letters and the right wording to look for?

If all the above is a yes then, Do It  yourself  Debt Settlement is definitely for you Vs. Settlement Attroney and Debt Settlement companies!