Silver1

*sigh* - I've had it. I've really, really had it.

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I've been slogging through the remainder of my unsecured debt and I get so incredibly exasperated to see the balances inching down so slowly. I've been doing the debt consolidation program thing for six years now. I had a lot of debt, a lot's been paid off, but there's still a pretty good amount remaining.

The consolidation co I work with has been pretty good. They did really good in the beginning with negotiating with my creditors, getting interest rates lowered, getting fair monthly payments, and so forth. I've been on their program six years now. :shock:

Long time, yes. But I had tremendous debt, and didn't want to file BK because at the time I had planned on buying a house two or three years down the road. I didn't want to trash my credit report worse than it already was by filing BK. I wanted to pay my debts as soon as I got another job and "do the right thing".

I had to add a few more accounts that got out of control when I got laid off a second time (first time in 1998) in 2001.

I was pretty underwhelmed by their efforts this go-round. They really didn't do a whole lot except stop the phone calls and negotiate a slightly better payment than what I'd been paying. The interest rate reductions were minimal this time. The first time around the rep got the interest rates on almost all my accounts down to zero.

OTOH, all the accounts I have on this program have had zero late payments since getting them on there. The debt co is pretty scrupulous about getting the payments in on time. But I was just pretty disappointed that the subsequent accounts I had to add to the program after my second layoff didn't get the massive reductions in penalties, interest rates and late fees that the first ones did.

I really wanted to explore debt settlement but have seen that the consensus on the forums is that using a debt settlement company to do this is a bad idea. Is it true that there are no reputable debt settlement companies out there?

How about a lawyer? I have a half-way decent pre-paid legal plan through employer, but I've never used it and figure I might as well use the services if there's something there, since I'm paying for it anyway.

Would it be worth it to have one of the attorneys try to settle some of my debts?

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