Is it better to settle your debts on your own then hire a debt settlement company?

Tips and Deals Forums Debt Management Debt Management Is it better to settle your debts on your own then hire a debt settlement company?

This topic contains 0 replies, has 1 voice, and was last updated by  Anonymous 8 years ago.

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    Anonymous

    I had three payday loans worth $ 600. With intrest they were like $ 1000. After my account went to collections, I kept telling them I am doing everything in my power to pay my loan off. Then when I had the lump sum, two of the companies both agreed to settle my accounts in full for the original amount of the loan, without all the interest and high fees. My one loan was $ 500 and they settled for $ 328. Then my other loan was 500 and they settled for 400. The debt settlement company wanted to charge 300 and then 50 bucks amount, so anything extra would be used towards the loan. It seems like it would have cost a lot more to use the payday loan settlement company. All they can do in the end is ask for a lower amount.

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