Debt settlement

I am considering debt settlement, i have about $28,000 in credit card debt. I am not behind on payments and I can afford the payments. I want to buy a home and i know this type of debt does not look good on my report. I don’t know if i should go through with this, they say they can reduce my debt by $12,000 but i’m not comfortable with stopping my current payments to these creditors. if anyone has hired this type of company i would really appreciate any advise thanx.

Don’t do it! I would look into other avenues.

I had about the same amount of debt after being laid off from a well paying job and finding I couldn’t find a similar income. The Debt Settment Company (DSC) will tell you that things will be fine. They gloss over the fact that you won’t answer the phone anymore and will become afraid of the mail as eventually you’ll have collectors suing you.

Basically what happens is that you stop paying your bills. The DSC *wants* your account to go to the collectors as it’s easier to settle with them. in the meantime, you will save your money and let them know when you are ready to pay off each card. All you see is the money you’re saving. You’re not thinking about that while you pay off the first couple of cards the first year that you won’t be paying off the “last couple of cards” for quite some time.

My credit is shot. I am *unable to get certain jobs* because of this. These days some employers check your credit history. I got married in April. My wife knew all about my debt and married me anyway. (God I love that woman!) We have experienced a lot of difficulty and awkwardness because of my now ruined credit. I carry this weight on my shoulders everyday because I can’t do things with and for her until I get this monster I’ve created behind me.

So again, think long and hard about this and then don’t do it anyway!