MiCasaMiDinero asked:
Most debt consolidation companies do nothing better than simply ruin your fico score in order to settle your debt. If you really want to work with an agency that will help you reduce your debt, contact a company member of “CONSUMER CREDIT COUNSELING SERVICES” (CCCS) More info at: sccrealestateuncensored.com/2008/repair-credit-legally-remove-negative-accounts/ micasamidinero.com/2008/reparo-credito-eliminando-legalmente-cuentas-negativas/
Melanie
Carlos
You be better off filling for bankruptcy. They might settle with all your debts but your credit card companies dont have obligation to talk to these people. Also if they will settle your account.. IRS will charge you with those accounts they settled as your INCOME..When you enrolled to this.. it will destroy your credit also because you are not making payments. Lastly, bankruptcy will only cost you at least $2,000 dollars for lawyers fee this program.. they will charge you.. at least 5g
Comment by ysmaelle072278 — August 10, 2010 @ 12:10 pm
Julia
First of all: You CANNOT settle on a debt and ask your creditor to report it as PAID IN FULL! It will never happen!! I guarantee it! That is essentially lying!!!!! They will NOT DO IT! It will always be reported as settled for less than the full balance. But its ok!! Its better than a charged off account!!! 2nd: Make sure you seek out a non profit debt management agency through CCCS. They do exist! Do your research!!!!
Comment by katchitifyoucan — August 11, 2010 @ 1:38 pm
Karen
First of all: You CANNOT settle on a debt and ask your creditor to report it as PAID IN FULL! It will never happen!! I guarantee it! That is essentially lying!!!!! They will NOT DO IT! It will always be reported as settled for less than the full balance. But its ok!! Its better than a charged off account!!! 2nd: Make sure you seek out a non profit debt management agency through CCCS. They do exist! Do your research!!!!
Comment by katchitifyoucan — August 13, 2010 @ 11:10 pm
Mike
why worry about the stupid Fico score. is it really worth it to live beyond ones means? best remedy of all is to work harder and pay the debt off and never take on more than you can chew.
Comment by abeosoft — August 15, 2010 @ 10:10 am
Elmer
this lady doesnt have a clue, shes probably screwed up more peoples lives from this video than helped.
Comment by WSthe3rd — August 16, 2010 @ 6:31 am
Willie
It’s so good to be aware…. Thank you!
Comment by erikrut — August 16, 2010 @ 9:53 am
Jessica
A few points, feel free to challenge:
1. If a person is unable to make even minimum payments, how will they be able to settle with the CC companies? Are the CC companies really going to accept lower payment terms without any guarantee of paying? That would be like extending even more credit to a person who who has already shown that they are completely incapable of paying.
Comment by AriD2385 — August 17, 2010 @ 3:19 pm
Corey
@brianedwards35 That make sense.
Comment by epw0003 — August 17, 2010 @ 3:41 pm
Monica
WARNING! Comex and LBMA are frauds, their gold and silver certificates are frauds, there is no physical gold and silver in their vaults, demand physical delivery immediately or at your next contract expiry date.
Source: GATAorg, Andrew Maquire whisleblower interview on KWN, emails to the CFTC regarding the naked short positions and gold sliver market rigging, by JPM, HSBC, and likwise scam artists.
Comment by 407buddy — August 20, 2010 @ 6:52 pm
Evelyn
what propaganda this is.
Comment by jOWNZin22 — August 23, 2010 @ 8:13 am
Geraldine
I settled my dept through Precept Financial. It was actually a pretty good experience. I think I ended up paying close to what I owed to begin with, but there was no way I could pay it on the creditors time table, so it worked out for me. Also, I really didn’t want to deal with the collection agencies. Those people are nasty.
Comment by rexxthunder — August 25, 2010 @ 9:57 am
Floyd
I really don’t get her saying have them “write paid in full on your account” /”have them say you don’t owe taxes”. Yeah like the IRS will just accept that! But Suzie Orman said ……Plus if they get the money how the hell do you know those companies are going to do all the things she said! Those companies aren’t looking to help you get your credit record to look good!
Comment by 2004mojo — August 25, 2010 @ 7:24 pm
Kim
@NYBankruptcy
Let me guess….you would be the perfect person 2go2 instead of CCCS?
Of course CCCS is funded by credit card companies. Why? Because they rather get paid some rather than none. If CCCS did not exist, consumers would simply TRY to file BK or do use a debt settlement company. If they could not BK, then they would get sued and end up in more financial trouble. CCCS organizations help the consumer work out a payment plan that can work for the consumer not the credit card company
Comment by MiCasaMiDinero — August 25, 2010 @ 9:04 pm
Arthur
If you’re going to go the route of a service make sure it’s a law firm. These companies that aren’t law firm based are useless and complete scams.
Comment by Messiah717 — August 29, 2010 @ 12:05 am
Nancy
The first half of this video contains excellent information and advice. However I don’t agree with the advice to contact CCCS. Those companies are funded by the credit card industry and can’t be trusted. If you are deep in debt consider the option of filing bankruptcy.
Comment by NYBankruptcy — August 30, 2010 @ 8:07 am
Barry
Obviosly Suze Orman is not struggling to make payments on her CC debt. Typical of CNBC to support the banks to steer people that are suffering from their creditors back to them. Not once did she mention that the creditors want almost all of the money settled up front before making any arrangement for a payment plan.
Comment by urbantrendzsetter — August 31, 2010 @ 9:03 am
Jeanne
Someone tell this idiot lady that by consumers calling creditors its only going to make it worse. They will garnish you, open door to sue you! DO NOT DO WHAT this idiot is telling you. Do not go with a company that will have you be late on your payments. They are called debt settlement companies. The such scams like EFA or Metrons of the world. Do your research before going with a company. Go with someone who does not require trust account. Good luck and ignore this lady to avoid lawsuits/garnis
Comment by EuphonyNotHate — September 3, 2010 @ 1:33 pm
Charles
only problem with that is that a credit card company DOSE NOT have to deal with a debt settlement company and if i tell a CC company im in settlement they can SUE ME!! y is that? (sueing)
Comment by nfwvideo — September 4, 2010 @ 3:55 am
Matthew
Gail Vaz-Oxlade. She hosts a show on CNBC after Suze’s show called “Till Debt do us Part.” Though her show focuses more on couple’s finances, she could give you tips and advice on how to better handle your money.
Comment by sumitha0831 — September 4, 2010 @ 6:08 am
Virginia
Who would the Canadian equivalent of this fine advise be?
Comment by goyer2865 — September 5, 2010 @ 12:20 am
Beverly
I don’t see how you could not afford credit card payments of $100/month or so and have $6k in the bank to settle with. If you had that much in the bank, you’d probably be able to make your monthly payments.
Comment by f0rt0r — September 6, 2010 @ 9:19 pm
Vivian
Suze is convincing… but if the lady in debt pays her minimum of $800 a month. And wants to save money to later negotiate directly with the creditor. She has to have a high income job. I did debt consolidation with a company and i was out of debt in 2 years and they reduced my monthly payment. It hurt my credit for a few years but I’m not in debt anymore. I’m no longer a slave to the credit card company’s
Comment by ferx2001 — September 10, 2010 @ 7:56 am
Jesus
Family meeting folks, need to cut cost, OK how about canceling all insurance policies (frauds anyway) walk away from credit cards (Fico a fraud and slavery). Hey,..it’s just a pragmatic family business decision, Big banks do it all the time so they remain “liquid”. Think I’ll start me a family veggie garden, pop me a cool one and,… Oh well fuck it!
Comment by 407buddy — September 13, 2010 @ 6:13 pm
Barry
pretty helpful information about debt and bankruptcy issues. for more info vist debtsolutionshome. com for free objective information regarding bankruptcies and debt solutions.
Thanks
God bless.
Comment by ptgful — September 17, 2010 @ 1:57 am
Leo
this lady makes perfect sense…Don’t listen to these idiots who think you need a company or an attorney….
Comment by ChiRock773 — September 17, 2010 @ 7:33 am