Milliep wrote

but people like this cost everyone since responsible people have to compensate for their irresponsible choices.

So is she saying that if no one defaulted on their CC debt the issuers would reduce the interest rate charged their customers?

What planet do's she spend most of her time on?

Bet she differentiates between a business hitting hard times and restructuring and the average persons problems.

Well guess what, a person as far as their finances go is in some ways a business and they have every right to use the law and negotiate. The other party has the right to refuse and seek remedy.

Get off your high horse.

Millie,

I'm not going down that road; nor do I want elaborate on something that doesn’t fit your way of thinking. I was just asking you to exercise a little consideration in your choice of language. There is no need call people names.

I think debt settlement can be a good solution when drowning in debt, you don’t. Check out the PBS special, I don’t expect you to change your way of thinking, but you know there are always two sides to every story. Like I said, lets just agree to disagree and stop there.

I know you deal with these types of people as a living so obviously you have to be sympathetic toward them but people like this cost everyone since responsible people have to compensate for their irresponsible choices. If there was unforeseen health issues involved then I might be a little more sympathetic but there isn't.

I'll watch the video when I get a chance but it won't change my mind on anything -- it most likely will just make me angry. My views on this are pretty set.

I'm curious on what principle you justify relieving him of his debt given he voluntarily choose to take on $52k in consumer debt and he is capable of servicing the debt it just makes his life unpleasant?

Not how it will make his life better but why should other people take on the cost of his choices?

"nobody came on and slammed you for some of the things you posted which read sideways."

I'm curious about what I have posted about myself that could be slammed?

Take it easy Millie, nobody came on and slammed you for some of the things you posted which read sideways.

My company deals with people all day long that have been beat up by your "philosophy". These are truely just good folks that just made some bad decisions in life, in many cases some of these same people were taken advantage of. Either way this poster doesn't read to me like our friend Mr. Rolexmonger

Speaking as someone who vehemently believes in doing the right thing and paying bills, you just don’t “get” the mindset of someone that wants to settle and consider other alternatives to bankruptcy, so let’s just agree to disagree here.

Do yourself a favour and take an hour to watch this: http://www.pbs.org/wgbh/pages/frontline/shows/credit/view/ . Not everyone that wants to settle is a “deadbeat”

"If that's what you make of this than that is your opinion, but knocking somebody because they have fallen on hard times is ignorant and is not needed."

Actually it is. You didn't wake up with $52,000 in consumer debt. If your house is underwater that means you choose to buy it with a very small down-payment. Basically you have made a series of bad decisions and likely live outside your means and now you want people to feel sorry for you and creditors to allow you to escape the consequences of your choices.

As for my contribution to this site when it comes to people being screwed over by a collection agency I'm the first to be helpful but no I don't take people who can continue to make payments but prefer not to because it is hard as someone that should be embraced or even accepted. When you choose to spend the $52,000 it was easy and fun but now you don't want to pay for it.

Canadiangiff, I own a debt settlement company; allow me to chime in a few thoughts.

First off let me apologize for Mille, she has added value to this site but can come off a little terse. She is an ex-lawyer and anyone that goes through what they must endure is going to have very thick skin.

I get that bad stuff happens to good people sometimes and think I am hearing you correct. You aren’t going anywhere fast struggling with minimum’s, and want to settle to wrap up the debt situation. There is nothing wrong with that, tons of people have done that. Total Debt Freedom Inc. has settled over $30 million in debt to date so don’t let anyone tell you it can’t be done or that you are wrong for considering the option.

A few pointers; use the search function. A poster named “Average_Joe” has made some good posts over the last couple of years on DIY debt settlement and managed to accomplish the 10-20% you are looking for. Lots of tips can be found in his posts. Now that 10-20% won’t be easy, or simple. In fact expect a long and frustrating path if that’s what you want to settle for. If you have time, and prepare yourself it might just work out for you too if you stick to it.

You will absolutely need to be able to demonstrate that you have nothing worth any value that can be sue on (that house better be 85% or more LTV) and a decrease in income with very limited potential to earn more in the future (IE serious illness, disability etc. just being laid off wont work). If that doesn’t sound like you then you should change your expectations and plan to settle for about 40-60% of what you owe.

BTW Scotia is by far NOT the most litigious bank of the big 5. They are in fact quite the opposite. There are other FAR more litigious Canadian creditors out there that would ruin your ability to sleep at night.

If that's what you make of this than that is your opinion, but knocking somebody because they have fallen on hard times is ignorant and is not needed.

Sometimes in life things take turns for the worse and you can't control them. If you think I asked to be let go from 2 jobs you are sadly mistaken.

Still looking for some answers. Thanks

I'm sorry I wasn't of assistance in your endeavor to be a deadbeat.

Not sure why you respond to posts. You offer no insight and are just a negative person on your replies. I can take criticism but what I am looking for here is some names of people I can talk to. You on the other hand have given useless information and are wasting my time.

I also didn't mention that unfortunately I have been laid off from two jobs in the past 3 years and am working part-time as a waiter to make payments. Either way just looking for some answers.

If anybody has any real answers to my queries could you please respond to the post.

Thanks

Never settled debt but I do know that Scotia is the most litigious of the big five.

Your mentality bothers me though. If you are having difficulty servicing the debt trying to get it restructured so that it is amortized over a longer period of time or possibly securing it against an asset to decrease the interest rate would be acceptable but wanting to just escape the consequences of your decisions and walk away for 10-20% is pathetic. I seriously hope they neither bank budges on this.