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Can you really do this by yourself?


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From what I have read here, there seems to be a prevailing thought that good debt settlement can be done on your own without the help of any third party company.

Obviously I would do so...but the thought is daunting. I have eight creditors that I would have to deal with.

Since I have no cash reserves, what would keep them from suing me anyways? I can't see a creditor agreeing to getting 50% three years from now because it would take me that long to save it up!!

I have also seen on this board that the best time to settle is right before charge off (that will be in about three months for me on all eight accounts). Again...why would they wait?

For those that have the experience, will I be spending untold hours on the phone every single day?

Is there any step-by-step guide available to show me how?

I consider myself a fairly intelligent person and I know I COULD do it...I just am not totally sure if I WANT to.

I would love to not have all the fees associated with a debt settlement company...but since they (the reputable ones, anyway) do this all the time don't you think that they may have a little extra "pull" with the creditors?

Please advise. I am at a crossroads here. I either have to get enrolled in hardship programs that are only 6-12 months long and then go back to the hell I am in presently, settle the debt, or file BK. I do NOT want to file BK.


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