Should i use Credit Solutions or is bankrupt?
This is a debt settlement firm. Debt settlement is a risky tactic of deliberately defaulting on current credit card accounts to attempt settlements at 50%. You pay a monthly fee to a debt consolidator….this entire fee goes towards building a settlement account and to the consolidator’s fees to “settle” your accounts in the future. Your credit card companies will deliberately not be paid so that all the accounts will default/charge-off so that they can attempt settlements at around 50%. If you are current on your accounts, this process will ruin your credit rating for sure. Debt settlement is like a roll off the dice with your finances…You can never predict how your creditors will respond to the deliberate defaulting of your accounts…they might settle at 50%…or they might serve you a summons, take you to court…and if they win, you could be looking at wage garnishment. If you are really serious about filing for Chapter 7 and you can confirm that you qualify to file, then you mi
