Debt Relief Programs

I had conflicting responses to my question yesterday "Is there any value in subscribing to a debt relief program"? bbinacan had a good experience and asked me to PM them if I would like details. Due to my lack of experience posting, and not understanding the term PM, I was not able to request more detail. Hannah Bell had a different view of this program and gave some useful insight into the practice. I live in California. I have subscribed to a program offered by Debt Relief Center, Inc. in Owing Mills, Maryland and I have a right to cancel, without penalty, within 30 days. I subscribed on 11/10/09 and I am strongly considering the right to cancel option. Thank you both for your responses and I would appreciate any further input relative to this issue.

click on the envelope by their name.

What envelope? I don't see any.

just click on that and you will see the PM ( personal message )

you look at your name (where it says how many post you have) and you will see a little envelope. click on that

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=353x2715

Maybe the information will be useful to you.

Debt Settlement is an assertive solution for financially troubled consumers seeking an alternative to bankruptcy. The service is an established industry in Europe and elsewhere in the world yet is still seen as somewhat innovative in the U.S. There is no doubt that Americans desperately need immediate debt-relief options in today’s economy.

Settlement companies act on behalf of consumers, negotiating directly with creditors to facilitate repayment of consumer debts at a reduced percentage of the total amount owed. In return, consumers generally pay a service fee, which may be monthly or a percentage of the total balance owed. Upon completing a settlement program, all of the consumer client’s debts included in the program are “settled,” or resolved with zero balances. Sound settlement companies follow quality guidelines that safeguard consumer protections and offer operational transparency.

Complete ripoff. A friend of mine got caught up with one of these so-called "debt settlement" outfits. Most cc companies will refuse to work with these 3rd parties. Meanwhile, the "consumer" is instructed to stop making payments and cease communication with their creditors.

As a result...my friend was sued by 3 of his creditors, and has subsequently filed for bankruptcy.

The "debt-settlement" company eventually refunded his money following a complaint to the FTC.

STAY AWAY.

Edited to add: And take your spamming ass with you.