Non-Profit Debt Consolidation Companies
We would like to caution you against using these companies. Many of them, though they say they are non-profit can still find ways to make money off of their customers. A couple of good examples:
There used to be a non-profit company called Genus who funneled $74 million dollars or so of [...]
So you’ve been successful at settling your debts with a creditor, and you think the nightmare is over. Well, not quite. Most people don’t know this, but the IRS regards debt forgiveness (paying less than you owe on a debt) as income.
If you are dealing with the original creditor, and you work out a settlement [...]
Can debt settlement stop creditor lawsuits the way a bankruptcy filing can?
No. Sometimes, though, if you settle with a creditor, this is the way to get them to drop the lawsuit against you.
I negotiated a settlement with a creditor for less than I owed. The creditor is now suing me for the balance. [...]
Keep good records!
Keeping good records during your debt settlement process is crucial to success. This can be the difference between a good and bad settlement. Don’t expect them to remember you or what you agreed upon. Other pointers:
> Send all correspondence via registered mail (about $2 a letter) or send a fax with a [...]
