Debt Settlement Part 1 - In part 1 of this video series we discuss the debt settlement options in Florida - by Robert Peters in Jacksonville Florida. http://restartyourlifejax.com
Debt settlement is a process where a company collects your money each month and they negotiate with your creditors to pay them off one by one. The problem is, it rarely works. Most people never finish their debt settlement program and can end up worse off than when they started.
There are three reasons debt settlement rarely works:
1. Most people never finish debt settlement, and they end up contacting me about bankruptcy.
2. The 1099-C will be issued by your creditors for the difference in the amount of money that was settled versus the amount you owed. Now you have a tax liability in addition to debt problems.
3. Some of your creditors will most likely sue you, because the debt settlement companies often only pay one creditor off at a time. So you stop paying them, and the debt settlement company pays creditor A, but so much time has gone by that creditors C and D file a lawsuit against you.
Visit our website to learn more and schedule a free consultation:-
https://www.youtube.com/user/RobertPetersLaw/videos
http://www.restartyourlifejax.com/
No comments:
Post a Comment