Re: Question about Debt XS
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Posted by LadynRed
(199.91.33.254) on September 26, 2003 at 09:35:36:
In Reply to: Re: Question about Debt XS posted by Karen on September 26, 2003 at 09:19:52:
NACA - National Association of Consumer Advocates - www.naca.net. They are a group of lawyers that specialize in consumer protection issues. The FIRST thing your friends need to do is look at the contract and papers they signed when they signed up with these scam artists. A lot of these places specifically do NOT pay your creditors, they deliberately collect your money for 6 months, not paying, until all the accounts are charged-off, then they use the money you've paid in over 6 months to negotiate settlements with creditors. The downside - your credit is completely and utterly trashed, you could get sued, and you might as well file for bankruptcy. Your credit can't get much worse than a batch of charge-offs and settlements are no better. They need to find out EXACTLY what terms they got themselves into and then act if necessary. They may, in fact, have to file for bankruptcy. They should also IMMEDIATELY pull all 3 credit reports for both of them to see what damage as been done.
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