3/30/2010 5:38 PM (PST)

You can see that the BBB has a very low rating for the company, and they have some very high ratings from customer reviewers. Here is some good general information about debt negotiation/settlement companies.

Our experience with debt negotiating companies, is that they attract heavily indebted clients by claiming to be able to settle the clients’ debts for far less than the amount owed and to stop creditors’ calls.

Debt Settlement companies usually instruct their clients to stop paying their creditors. Some companies direct them to make their payments to the debt negotiation company instead and promise, when the company has accumulated enough to offer a cash settlement to one or more creditors (which can take as long as two or three years), to pay off the debt. The debtor must pay fees to the service during the time the payments are accumulating.

Other companies simply collect the fees and advise debtors to save their money to pay their creditors themselves. California law limits the amount of fees debt negotiators can charge you, but by not collecting the money and distributing it to your creditors for you, companies can remove themselves from the limiting statutes and charge whatever they wish. What they are supposed to do for you while you’re saving up your money is to contact your creditors and inform them that they’re working with you, negotiate the amount to settle your debt, and ask them stop contacting you.

However the company operates, though, complainants allege that creditors continue to harass them, fees and interest continue to accumulate, the companies do not contact the creditors, creditors increase their collection efforts and sometimes sue for payment, the debtor’s credit is ruined, and they end up worse than before they contacted the service.

Debtors may not realize that if their creditors do accept a negotiated settlement, the amount forgiven constitutes taxable income.

3/31/2010 12:05 PM (PST)

Debt Settlement and Debt Consolidations have very negative impact to you and your credit.

You can give Springboard Non Profit Consumer Credit Counseling a call and speak with a HUD certified counselor credit and debt counseling.

Springboard will partnership with you to get an understanding of your current situation and gather information about your living situation. Gathering this information will help in finding solutions and resources that can benefit you and help with getting a resolution and resources specific to your situation.

Ultimately, the goal is to help you create a realistic financial situation where you will be able to maintain your home long term. If appropriate, your counselor will also facilitate a 3 way call with you and your lender to discuss the loss mitigation options that may be available for you.

You do not pay for this counseling service and no company can guarantee a modification.

Call 800-449-9392 and let your counselor know you heard about them from TrustLinkPrincipal balance reduction is dependant on the investor of the loan. No one can guarantee a principal reduction and you should not pay to find out what resolution options are available.

You can give Springboard Non Profit Consumer Credit Counseling a call and speak with a HUD certified counselor for Foreclosure Prevention counseling as well as credit and debt counseling. Springboard is part of the Homeowners Hope Hotline.

There are many programs available for families to keep their home, Springboard will partnership with you to get an understanding of your current situation and gather information about your living situation. Gathering this information will help in finding solutions and resources that can benefit you and help with getting a resolution for you with your lender.

Ultimately, the goal is to help you create a realistic financial situation where you will be able to maintain your home long term. If appropriate, your counselor will also facilitate a 3 way call with you and your lender to discuss the loss mitigation options that may be available for you.

Call 800-449-9392 and let your counselor know you heard about them from TrustLink