Consumer Proposal; Can I use a Credit Counseling Service after ...

GTA Credit provides debts management, debts consolidation, Consumer proposal, Credit repair, Credit counseling and bankruptcy in Ontario
Video Rating: 5 / 5

Question by vort3xyz: Can I use a Credit Counseling Service after debts are charged off?
I havent paid my bills in like a year. My credit report says they?re charged off as a bad debt, and there are 3rd parties trying to collect on the debts. I have come into steady income and I would like to repay the debts. The 3rd party collectors want lump sum settlements and don?t want payments. Can I use a consumer credit counceling service to setup a payment plan to pay these debts off? Or is it too late for that? I was considering a chapter 13 to get everything straightened up and on plan, but my coworkers think that?s a bad idea since I will not be saving any money from the chapter 13 as far as my financial numbers work out. (disposable income vs total debt after 5 years of payments).

I think one of my creditors (discover) may be preparing to sue me. They issued a complaint to a local courthouse, but the sherrif hasn?t been able to track me down to serve the papers yet.

Best answer:

Answer by Bill C
It?s best *not* to use a debt reduction or credit counseling service. Most are out-and-out frauds and the ones that aren?t frauds can?t do much, as most credit card companies will not negotiate with such companies ? they will only negotiate with attorneys.

It would be best to hire an attorney who handles consumer litigation work and has experience handling consumer debt matters. You can usually get a attorney referral from your local county bar association.

Add your own answer in the comments!

msnbc i will always love you maine caucus whitney houston has died blue ivy carter whitney houston death the vow