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cle22

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Are balance forgiveness programs a valid option?
I have over $40k in debt and struggling to make payments. I'm working with a financial group that is recommending a program which utilizes their Law Firm to work with my creditors for "one time balance forgiveness". I will leave some of my smaller accounts open to pay off myself. The Finical group states I will have missed payments for up to an estimated 180 days. This will negatively effect my score, which is fair today. But they are claiming once these accounts show paid in full my score will increase. I am hesitant to move forward with their program. Do these programs work? I'm struggling to find other options and want to stay out of bankruptcy.

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Basically, the Law Firm is trying to push their weight around ( they will probably threaten them with the possibility of BK)...... In my opinion; bad idea.......  Try to call the creditors yourself and work out a "pay for delete agreement".  This is when you agree to pay the amount owed in full in return for the creditor to completely remove the negative item from your report altogether!  This is perfectly legal and has about a 50/50 success rate: Really it depends on how well you are at negotiating. Don't take no for an answer; be kind and curtious; even ask to speak with a manager if the operator is unable to help. I frown upon the idea of 180 days worth of late payments when you can have the whole history completely vanished, never to returm again.  Make sure you get it in writting before you send a payment.

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