investigating credit card debt relief for a just $20,000 in debt. I wanted to know if there was a program that would work better for me than the one I currently have.
I really can’t speak out enough against them. I don’t know what circumstances you find yourself in, but I felt that choosing to work with them was a bad idea. They were dishonest, which caused my credit to immediately collapse. Things didn’t turn out the way they had promised, and they would never honestly respond to inquiries. If you have any other options, I would strongly advise against hiring JGW. To determine if your credit card providers will cooperate, try giving them a call.
I’m presently engaged in a debt management program run by a state-licensed non-profit organization. Definitely investigate them. They negotiate your interest rates and payments with the credit card companies so you don’t have to default on anything, but they don’t get any money back. I’m happy so far. Paying down $28,000 in 4 years will save tens of thousands in interest.
How can one locate these in their state? A Google search yields hundreds of results for debt relief. It’s difficult to navigate.
You can look up non-profit debt management and credit counseling programs on Google. Instead of debt relief, you should be looking for a debt management program, or DMP.
Has the score on your credit report dropped?
Not OP, but this approach won’t lower your credit score. As long as you continue to pay off your debt and remain in compliance with your creditors.
If anything, sticking with the program will help you get a higher score.
PDS Debt has outstanding reviews and accomplishes the same thing. I would investigate them. Although I haven’t used them myself, I’ve heard positive things about them.
Depending on your unique situation, there are credit counseling organizations, settlement corporations, and some that combine the two. I would speak with two or three people, then choose the one that makes you feel the most at ease. If they put pressure on you or set a deadline, move on to someone else. I recommend looking into Cambridge credit counseling or family credit management, both of which have been operating for more than 20 years and are reputable.
I had around $35K in credit card debt, and my credit was already bad, so I wasn’t too worried about that. I called a few debt settlement companies because I didn’t want to file for bankruptcy. All of them had fees, but I was more focused on finding someone who would be honest and upfront with me. I probably contacted about 10 companies, and I ended up choosing one based in Jupiter, FL. I won’t mention their name, but it sounds a lot like Sig Serv. In the end, I was satisfied—it cost me about $22K to settle the $35K debt.