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credit card debt resolved
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I hired the Mossler Law Firm to handle my credit card debt. I am extremely pleased with the outcome of the settlement. The debt was settled under agreement, therefore, it has not affected my credit rating. I had experienced financial hardship and all my
credit card company was willing to do was give me a year of no interest to pay off a rather large credit card bill. My uncertainty of having a full time job or even part-time back then was looking bleak at best in 2008. Credit card companies offering no interest
for a year when you do not know if you will have a job to cover those payments is not comforting at all. Credit card companies don't care what your financial situation is they just want there money and when that "free or lower interest" rate is over they will
hike it up as high as they can before you know it you will have a credit card bill doubled or tripled what you actually owe. In other words, they work with you very little and I am single with no spouse to depend on for extra money. The economy is to blame.
I had always paid my credit card bill at the end of the month in full, but once my job was gone I became dependent on it to pay for cost of living expenses alone. Never mind extras. I explained this to mossler and was told from the beginning what to expect.
1. Once you seek their service they take your information and stop the phone calls from creditors. If you are receiving phone calls then creditors are harassing you and you need to let mossler know that or it will continue. 2. Mossler does explain that the
money you send them every month goes into a trust in your name to build a dollar amount to be settled when the credit card company starts the settlement process. There needs to be a certain amount in the account before a creditor will even consider to start
to negotiate. Mine was 10% of the original credit card debt. One thing I was not happy about is the creditor is allowed to continue to tack interest on the original amount the entire time your account is in this trust. Mossler did manage to get a settlement
only on the amounts that I actually charged. You may however, pay state taxes on the amount that was settled. You will receive a form from the creditor to file. Unless what you owe in other bills out weighs your assets you cannot be resolved of this to the
IRS. 3. If you should have trouble making your monthly payment for the month to mossler into your trust, call them to let them know what's going on in your situation. Financial hardship etc. they will work with you. 4. Mossler does charge a fee of about $10.00
a month in my case to manage the account. I don't find that unreasonable. 5. In my case I was charged about 35% of the negotiated amount(settled)for their services. I'm happy I went this route instead of allowing the credit card company put me into more debt
that by now NO WAY would be paid with the ridiculous amount of interest. That's where they get you. They don't like when you pay your credit card off every month. They make no money there! In my situation I just believed I would be sinking deeper into debt.
Since, the job prospect isn't much better today I'm glad I chose this option to keep my credit history clean. So, if you need to settle your debt I would highly recommend Mossler Law Firm. Remember, each case is different and understand everything that they
tell you regarding your debt. Ask questions if you do not understand something remember you hired them to help you manage your debt.
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