When trying to avoid bankruptcy and still handle your debt, people often compare Consumer Credit Counseling (also known as CCCS) and Debt Settlement. Consumer Credit Counseling looks appealing to many people because they usually have a local office where you can sit down face to face with someone. They also usually tout themselves [...]
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A big question most people ask before joining a debt settlement program is “What are the tax consequences of this program?”.
The answer is that financial institutions are required to report any canceled debt over $600 to the Internal Revenue Service. That means that if you save over $600 on an account during [...]
How much is a debt settlement program going to cost? The industry average is 15% of your total debt amount. That 15% is usually spread over the first half of your program, which typically lasts between 12 and 36 months. Most reputable companies will keep you on the same payment throughout your [...]