Debt Management: Debt Settlement A SCAM?
February 23rd, 2010 | 
Author: 
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/
Duration : 0:9:22
Posted in eliminate credit debt | 
Tags: assistance, bad, cards, casa, collection, collectors, consolidate, consolidation, consolidation loan, counseling, credit, cures, debt, debts, dinero, elimination, estate, financial, get out of debt, help, loan, management, mi, micasa, micasamidinero, midinero, money, non-profit, pay-off-credit-cards, real, sccrealestateuncensored, settlement, uncensored
I don’t see how you …
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.
Suze is convincing. …
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
Family meeting …
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 it!
pretty helpful …
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.
this lady makes …
this lady makes perfect sense…Don’t listen to these idiots who think you need a company or an attorney….
cant you do the …
cant you do the same thing on your own instead of hiring a company to do it for you…just don’t pay the credit card and save the money on your own..then settle with the credit card companies….
why would you need a company or attorney….???????
Sorry folks, you …
Sorry folks, you have been had, peed on, scammed and lied to.
WallStreet bailouts were rigged and a fraud, market manipulations,
high freqency trading, flash orders, naked short selling by:
Goldman, JPM, Cit, MorgStanley, Aig, stay away from this scum.
The Fed, Comex, ETF’s, Govt data: frauds. Your labor devalued to Zero.
Pull your money out, walk away from your mortgage and CC card debt,
We can beat them at their own game, buy pure silver bullion,
buy local mom and pop. Starve The Beast!
Maybe not but it is …
Maybe not but it is the internet.
My co. does NOT …
My co. does NOT take an up front fee. The CC’s will settle at a BETTER with US than they will with the cust. We give them BULK. If you owe 30, you ACTUALLY owe 90k with interest. if we get you 15K with fees you ACTUALLY saved 75k. thats WORTH it. The loopholes ppl dont know, If you settle yourself, they will send the rest to collections 99% of the time. Most people DONT HAVE the money up front and CANT save the money on their own. if they COULD they wouldn’t BE in debt.
ive been settling …
ive been settling debts for people for 7 years now and this lady is not 100% correct, this lady probably never has been in a bad situation with credit cards, shes probably paid off by the credit card companies some how. the fact is a good settlement company will save you on an average of 70% depending on what credit cards you actually have, and YES people need to get paid for the work. there are about 10% of good companies out there ARE actually good, this is not an advertisement
brianedwards, where …
brianedwards, where have I made a comment contrary to what you have stated?
lol……a question …
lol……a question for MiCasaMiDinero…….if you have a 750 fico sore and you make 70 k a year…but you owe 80k in debt which means your debt to income ratio is high….that good credit score means nothing because nobody will loan you money because they look at you as a risk…..worrying about your credit score with a high DTI….is like worrying about your yard if your house is burning down….
Sure she is, that …
Sure she is, that is why she is successful and has managed fiances for fortune 500 companies. Its definitely because she is a moron…
Out of everyone who …
Out of everyone who has posted disagreeing comments about the info provided in this video, is anyone of you a BK lawyer, a certified financial advisor, a credit counselor member of the NFCC or an employee of the credit bureaus who has access to the secret algorithm used to calculate FICO scores?
Didn’t think so!
Companies looking …
Companies looking to defraud people are never transparent on how they operate. The “.org” domain is widely viewed as a “non-profit” focused on educational side of business & not the commercial “for profit” side. Ur site is a “.org,” however the real company behind the scenes is “”Coastal Credit Solutions Inc” which is for profit. The initials for this company: CCS which could be very misleading to people looking for a real Consumer Credit Counseling Service “non-profit” agency member of the NFCC
This lady is a …
This lady is a complete moron! She has some of the worst financial advice I’ve ever heard. If you owe more than 7-10k in debt and it will take you more than 6/7 years pay it off, file a chap 7 BEFORE you have judgments filed against you. Or if statute of limitations has expired, notify the collectors to stop bothering you and apply for new credit cards and begin rebuilding credit.
Don’t listen to this woman, she is a moron…
problem fixed!
problem fixed!
This woman is the …
This woman is the devil in disguise…really. Look at her, see the horns?
Really though…this talks about DEBT SETTLEMENT NOT CONSOLIDATION…AT LEAST CALL IT WHAT IT IS ON THE TITLE…
thank you, I am …
thank you, I am constantly amazed by the amount of people that listen to an obvious shill that props up their show on an audience of complete and total idiots who are finacially illiterate.
debt consolidation …
debt consolidation and credit counseling can be helpful but many are way too far in debt to be helped.
P.S.: As a former …
P.S.: As a former bank officer ANYONE enrolled in a debt consolidation/CCCS program was turned down. And usually needed to wait 12-24 months to re-establish their credit…
Finally, folks, ALL …
Finally, folks, ALL debt management programs hurt your credit. The banks lowering your credit limit hurts your credit; the banks closing your accounts and raising your rates hurts your credit too. So do you want to save money or stay in the rat race? Do your homework and do what is best for you
The only things …
The only things dear ole Suzy said that was correct. Any company that charges an upfront fee and a monthly fee like the one in the video probably is not the best idea. And yes in settlement you can have a tax liability. Thats the 2% accuracy. But in another video she says that if your insolvent/hardship. The IRS will not force you to pay taxes.
Suze is 98% wrong!! …
Suze is 98% wrong!!!! She is the paid spokesperson for FICO. Ive been in finance for over 20 years; ANYONE enrolled in CCCS will have damaged credit. Each account enrolled is reported with an intervention statement. Dont believe me, go to a CCCS website and check the FAQs. They state they dont report, but the creditors do For goodness sake CCCS is paid by the credit card companies. They are a non profit so check their books. Its a glorified collection agency.
A large majority of …
A large majority of ‘facts’ in this video are incorrect or misleading. All of them direct you basically to pay the banks as much as possible.
Facts:
1. Banks would rather negotiate with you then a professional company because a professional WILL get them to settle for less(20-50%)
2. CCCS will freeze your credit anyway, if not ‘damage’ it, and again, banks make more money when you pay in full via CCCS then settlement.
3. Suze here is on the take from FICO. Knew it when I listened, found ver