I have recently gotten myself into a pinch with several payday lenders and now my bank. My total amount of unsecured debt totals somewhere around 6000.00. What can I do to straighten out this situation without going further into debt?

Here are some of the pros and cons of settling your own debt.

Pros of Do-It-Yourself Debt Settlement

1. You do not have to share private information with a third party if you deal directly with creditors.
2. You avoid having to pay someone fees to settle your debt.
3. Some debt collectors have minimum debt amounts, so you may be able to settle a small amount on your own.

Cons of Do-It-Yourself Debt Settlement

1. Certain creditors will not settle directly with consumers.
2. Each creditor has different processes and procedures; understanding them can save you valuable time.
3. Consumers may say or do the wrong thing, leading escalating their case to a legal situation or a much higher settlement rate.
4. Consumers may negotiate a less advantageous settlement rate than debt settlement companies, which have experience and relationships with creditors.
5. Settling debt on your own takes energy and time and can be an emotionally draining and difficult process.
6. Some creditors become aggressive, requiring aggressive negotiations on behalf of the consumer.
7. It may be hard for consumers to get through to decision makers.
8. If an account does escalate into a legal matter, the consumer probably should pay to get an attorney involved.
9. All correspondence, proposed settlements or agreements from creditors should be reviewed in detail.

Now you may say that The Debt Pro is biased, since we only came up with three “pros” and   nine “cons”! These pros and cons have been our experience since 2004. Debt settlement is a service much like tax preparation, divorce, and bankruptcy.  Many people are uncomfortable preparing their own taxes for fear of an IRS audit. Likewise, many people hire an attorney to file for divorce to protect assets and to ensure the best settlement possible within the law. A consumer can file their own bankruptcy case, but most don’t because they run the risk of not filing it properly and having their case dismissed or worse.

The same applies to debt settlement. While you can attempt to settle on your own, and you may even succeed, the results you get will likely never compare to that of a professional who has the specialized knowledge and years of experience working with creditors and settling accounts. By all means, try to settle your debt yourself. Just make sure that you have any settlement agreements reviewed very carefully to make sure all terms are those agreed upon. If you run into difficulties, call us at 1-888-420-4791 or email info at aci-solutions.com. We’re here to help whenever you need us!

The FTC also thinks it’s wrong for debt settlement companies to take advantage of consumers.

The Federal Trade Commission actually created new legislation in October 2010 to make it illegal for debt settlement companies to charge money up-front. In years past some debt settlement companies took consumers’ money and never provided services at all.

Let The Debt Pro Settle Your Debt

The Debt Pro wants to give back to consumers who were wronged by the bad guys. If you live in California and a debt settlement company took your money and never provided debt settlement, contact The Debt Pro today at 1-888-420-4791. If you qualify for debt settlement, The Debt Pro will negotiate on your behalf with the credit card companies and settle your credit card debt for a fee of $199. You only pay when The Debt Pro provides documentation that the settlement plan has been accepted by your credit card companies.

Contact The Debt Pro at 1-888-420-4791 or visit our debt settlement company website at www.aci-solutions.com for more information. We’re A-rated with the Better Business Bureau.

“It took us three years to achieve our A-Rating accreditation with the Better Business Bureau, a process we started in 2008,” says ACI, Inc. founder and author of The Debt Pro blog, Darrell Warner. “We did this by never charging our customers up-front fees for debt settlement services and always delivering debt settlement  results to the best of our abilities given our clients’ situations.” In addition, ACI, Inc. only provides debt settlement services and received its BBB rating for that specific service. Warner cautions that other companies who claim to have received a good BBB rating for debt relief may have received it for another service such as credit counseling/debt management or through an affiliation with an insurance company or mortgage broker, yet claim the rating across all services they provide. According to Warner, the debt settlement industry went from approximately 2,000 debt settlement companies in 2007 to under 200 now.

Founded in 2004, ACI, Inc. helps consumers become debt free using debt settlement programs tailored to fit their personal needs and their ability to repay. ACI, Inc. negotiates and finalizes debt settlements prior to calculating and charging a fee to the consumer, a practice that became a law by the Federal Trade Commission as of October 2010. The company provides budget analysis and savings and debt management tips to its customers, so that once their debt is settled they have more of a chance to maintain their financial freedom in the future. ACI’s process includes a free consultation when consumers call in to assess each situation and evaluate all viable options. If debt settlement is the best program for the consumer, ACI develops a payment plan for debt management tailored to each person’s budget and decides on an appropriate timeframe for the consumer to get out of debt as quickly as possible. Unsecured debts that are eligible for settlement are Credit Card/ Department Store debt, Medical Bills, Personal Loans (unsecured), Repossessions, Past Due Utility Bills, Overdue Rents, and 2nd Mortgage Deficiencies (from foreclosure or short sale).

For more information about ACI, Inc., call 1-888-420-4791, or email  info@aci-solutions.com.