Is it better to settle with creditors yourself or go through a consumer credit counselor near me?

Question

I am about 30k+ in debt and all are delinquent (laid off). Is it better to deal directly with creditors or go through an agency? I have funds to pay most of it off, but I am concerned with my credit report and how new creditors may look at my credit. In the long run is it better to say settled on my credit report or credit counseling?

Answer 1

I think settling your debts through a credit counselor would be better than doing it yourself. As credit counselors are specialist in that field and more often they know your creditors and so they can reduce your debts more and even provide you with an affordable debt management plan.

Here is the source of a debt consolidation company named http://ezconsolidation.com for your reference.

Answer 2

slowly pay them off and don't use agnecy they can ruin your credit and mess you up. what you do is first find out what you owe then what payment they want and how much interest? if its small and its like say 30 to pay i would double or triple it each month and slowly it will be gone and done it may take a year or so but its good for you to learn and never do that again.

Answer 3

Actually there are some non profit credit counselors and they can help you.  They do not take fees, but can advise you.

Answer 4

Do NOT use a counsellor as they don't always have your best interest at heart....it's just a job and if they make a mistake of not paying your bills (which you should be doing yourself) they just say 'sorry' and you're SOL.

Just get all your debts validated by the credit bureaus NOT the creditors. Once you're ready contact the creditors and negotiate a 'pay for delete' in addition to payment or a payment plan. Make sure you get this agreement in WRITING as they are notorious for having amnesia.

Whatever you do make good on your payments and you'll slowly but surely rectify your credit. Any credit cards you have just cut them up but do NOT close the account as you want the history of the account to work for you.