Every CRN site visitor has access to comprehensive debt settlement education and detailed information about different debt management tools that can help you succeed with your debt relief plan. That’s great! That is what our web site is designed to do – help you get informed about dealing with debt and credit issues. We have a dedicated YouTube channel, Debtbytes, that offers even more tutorials and diy debt help. We also know there are valid reasons to work with a professional who can guide you through your debt relief decision making process and assist you through settling your debts with banks and debt collectors.
Meet the professionals in our network who can help you with your individualized debt relief goals:
Michael Bovee: I founded CRN with a dedication to providing education and awareness about your ability to navigate debt and credit struggles yourself, as an alternative to using overpriced and often ineffective debt settlement services. I focus the majority of my time on publishing CRN’s credit and debt relief website and videos. I interact with site visitors every day by responding to reader questions and offering help and feedback to those posting comments.
Currently I provide one on one consultations for site visitors, while accepting a limited number of new clients.
Paul Wisuri: I have worked with and known Paul for 9 years. Paul has extensive experience in the debt and credit markets. He has over 30 years of management experience working for major financial institutions. He is a full time specialist in the Network. Paul has been recognized nationally for his dedicated work as a CASA counselor.
Paul can help coach you through negotiating settlements yourself, and also provides direct debt negotiations.
Charles Phelan: Charles pioneered DIY debt settlement education with coaching. I met Charles many years back when involved in efforts to create CRN’s “do it yourself” debt settlement materials. I reviewed the course he put together for his customers, and quickly realized I could not improve on them. A re-branded version of Charles’s Debt Settlement Success Seminar was shipped to all CRN members for many years.
Charles is dedicated to providing a tailored debt settlement strategy to his clients that is highly effective. He is a one of the better recognized debt settlement experts in the US.
Jared Strauss: I met Jared through a debt relief industry friend several years ago. Jared’s approach to negotiating and settling debts with his customers is not only unique, he is highly effective. His customer success rate is stellar, which can be attributed to his client suitability standards. Jared has been assisting people with debt negotiations for over a decade. Prior to working with people to help them achieve debt relief, Jared received awards for his achievements as a debt collector.
Jared is dedicated to offering full service debt negotiation and settlement.
Check out my interview with Jared in one of our YouTube videos.
Andrew Weber: I got to know Andrew through a colleague who settles most types of debt, but not student loans. He had been referring people to Andrew who needed assistance negotiating private student loans. While Andrew is focused on helping with private loans, watch the video I did with him where he shows he knows a thing or two about repaying federal loans too!
Andrew has been assisting people to resolve student loans for several years.
Working with a debt settlement professional
Here is just a brief outline of why you should consider working one on one with an experienced debt settlement professional to resolve your debt:
- Know when your specific creditors are going to negotiate a debt for less then you owe.
- How to negotiate and save the most when settling your debt with each one of your creditors.
- How different debt collectors that call and send you collection letters are best handled in order to get the best settlement, or payment terms.
- How to manage multiple collection accounts and debt collectors until you are free from debt.
- How to reduce balances AND get time to pay a settlement with your credit card bank, debt collectors, and debt buyers, in order to limit your risks of being sued.
- How to settle debts when collections have already been to court and how to best resolve judgments you already have.
- How to limit damage to your credit report when settling credit cards and other debts.
- How to deal with other accounts you are not settling, while negotiating the best outcome on others.
One on one support provided by a dedicated specialist who will be assisting you in designing and implementing debt relief strategies that are tailored to you, your goals and needs, not only makes sense, but helps you maximize your results.
You can settle your debt while being guided by a pro, and for a fraction of what it would cost to enroll with a typical debt settlement company. You have access to professionals that will negotiate and settle your debts for you.
The approach we advocate to settling your debt provides the flexibility that is missing from other options available to you to manage your debt. We have had tremendous success working with our customers and site visitors since 2004.
Debt relief program costs:
Most of the specialists you can connect with through this site have more than a decade of experience working directly with people to help them succeed with their debt and credit goals. All of us recognize the benefit of working with you to first understand how to best reach your financial goals.
Happy New Year Mr Bovee ,
I do not know if you are still involved in your business but in short let me say that 2024 was a horrible year for me in that I am the type of person who will leave no stone unturned until I find a solution but Discover credit card and dealing with them and I will explain when we speak well I allowed my situation to ruin my health and I refuse to let my situation do that . So I am seeking your brilliance advice and guidance on what I can do with my debt situation because what people have told me to do and what I have almost gotten sucked into would have ruined me and the bummer of it all is that when I look at my credit I don’t see any late payments but I got denial after denial for balance transfers and creditors are merciless when asking for grace periods with lower interest . It’s like They want you to default . So I’m determined to solve this . But I can’t do it without advice of someone who is not trying to scam me or take advantage of me I didn’t use credit cards to take lavish trips or buy lavish clothes . I hit a tight spot and had to
Use them for living and medical . I’m sure I am one of millions but the government honestly does nothing to regulate credit card interest and debt relief companies say they’re going to settle and then they don’t . I hope to hear back . Thanks so much
I would suggest scheduling a call with me using the Get Help tab at the top of each page on this site. I can help you understand the options that may work for you on that call.
hello about 2 years ago my someone used my identity to start a verizon wirless contract and now im stuck with the bill for 5,100 Dollars which is alot more than i can afford is there anyway out of this or at least a way to take care of if with low payments
This sounds like a version of ID theft. I would follow the tips laid out in this article: https://consumerrecoverynetwork.com/identity-theft-prevention/
Hello CRN I have two capital one credit card both when to charge off status, I been paying a in house debt collector who deals with capital one. I owe ($1050)on one account and ($2800)on the other ,I want to negotiate to settle on both accounts to rebuild my credit, it been 3years sense charged off, what is the lowest $$ among to settle both accounts I listen to your YouTube videos, capital one will not delete off my credit report for Payment in full can you give me some advice tks u Briscoe
I would encourage you to get help on these Lawrence. You can create a user profile and schedule a call with me, or one of the other counselors, using the Get Debt Help tab at the top of the page.
Hello,
In 1999 my wife and I purchased and financed a vehicle. We had a loss of income and it was repossessed about 6 months later. There was a deficiency balance of 8,146 and at the time I tried to make pmt arrangements But the collection folks would only accept pmt in full. I stopped receiving communications and when I went to refi my home a year or so ago and was informed that I had a lien on my property which prevented me from being able to refi. There was a judgement granted in 2009 which I was unaware of, the title company was able to provide me a copy an looks like the judgement was for the deficiency balance but with interest accrual beginning April 2006. This is being handled by an attorneys office and they said the balance is around 28,000 with all of the interest. I want to get this settled so I can refinance and want to find out the best way to go about it. I have not talked with them or mentioned that i am trying to refinance. Thanks!
Check out this post about settling judgments: https://consumerrecoverynetwork.com/question/can-you-settle-credit-card-judgements-like-other-debts-stressed/
How much equity do you have in the home?
Hello CRN,
I sold my home in a short sell and I agreed to a $20,000 note to pay to the credit union (NFCU). I the remainder of the loan is $17 plus thousand dollars. I wanted to know what kind of offer in your professional expertise would be a possible point for the credit union to agree. (Possibly offer them $2500 maybe 15%) I understand you can’t predict a response but I wanted some form of guidance prior to me offering them a settlement. I am current with all my bills but a hardship is fast approaching my financial situation. Any advice would be very much appreciated.
Do you have other accounts at NFCU?
What does the rest of your credit look like? Do you have any unresolved collections?
Thank you for your timely response Mr. Bovee,
I do not have any other accounts at NFCU. My credit is in decent shape now but still in repair from a 800 score.
I have no other unresolved collections.
I regularly see Navy Federal settle credit card debts that are late 5 months or more at 40 to 50 percent.
This promissory note is a little different, where I have seen NFCU settle lower than that, but back when short sales were being negotiated as an every day occurrence.
I am not optimistic about them approving a 15% settlement. You can start the negotiations that low, but I would want to be prepared for twice, or more than that.
Hello,
I woke up this morning with a text from my bank stating that I had a 0.00 balance on my bank account. Midland Funding garnish the amount of $23,000 on one account and $24,000 on another checking account. I live in Texas and as per Midland Funding I we $9.000 to Sams and Express card and they state they can garnish triple the amount I owe. Can they do this to my personal bank account? I don’t even have these amounts in my banks??? I need your help and assistance
Hi, I am located in California. I have a 5000$ debt in collections. I think the statue of limitations is almost up in February 2020 based on my last payment. The account has been closed and is no longer usable. I read somewhere that in California the statue of limitations cannot be reset if you make a payment on a UNUSABLE/CLOSED account. However I would like to fix my credit and move on with my life although I only have 3000 saved and am in need of a car also. I am not sure whether to pay it now or pay after the statue of limitations is up. I am confused because I also read that if I settle it could restart the statue of limitations.
I’ve been paying a collection agency, Eastern Revenue INC $50.oo when I can; typically once a month ( I have not paid them faithfully). The original debt was with Eastern University for about $11,904. The balance was sent to collections on 12/2011 ,who bumped up the payment to about $15000. I’ve managed to get it down to $12,930. I want to settle the debt as the school refused to give me an official transcript to complete my degree else where and I cannot take anymore course with them. I tried paying $100 biweekly in the begining in an effort for the collector to settle the debt and free my name with the school. But that didnt work. I’ve since got married and fallen on hard times. I can only afford to settle with $2,000. Do you think thats possbile? Please assist. Thank you.
I wish I had better news, but a $2000.00 settlement on a 13k student loan balance is just not likely.
Are you certain your loan with Eastern is private? There are some good options to pursue with federal loans.
Unfortunately, I think it’s a private loan (tuition billed to me because my financial aid fell thru) What are my options at this point?
I do have a $5000. fed loans that I’m also paying down slowly…what are my options with them? I really would like to get back to school and complete my degree. Any information/guidance would greatly be appreciated. Thank you
Nice talking with you on the phone just now.
Let me know how things go with the student loan servicer next week and if you submit anything to the CFPB about student loan payment stress points.
Just for my greater knowledge, and not intending to pursue non payment of cc debts…..What is the worst thing that can happen to a credit card debtor if he or she does not pay credit cards?
I have seen around the net that at least three things can be levied on the debtor in this case:
1) a judgement can be issued on the debtor’s assets such as savings and checking accts or other liquid assets,
2) garnishment of the debtor’s wages
3) lien on home or car equity
I do not know what these things mean. I had questions on each. For example, what are the constraints or rules placed on the creditors placing these items on the debtors? For any of the three listed above, must the amount of the judgement, garnishment, or lien be the same as the amount of the debt? Is interest added to the judgement , garnishment, or lien over time? Are court costs and attn fees added in to the judgement , garnishment , or lien?
For garnishment, does the garnishment need to be a reasonable portion so that the debtor can pay off the regular bills or can it take over the whole paycheck?
any info would be helpful. thanks
I can help you better understand all of those risks if I knew what state you are in. State law will dictate most of the protections and limitations.
This post will have little more insight into what you are looking for: https://consumerrecoverynetwork.com/question/social-security-pension-state-exemption-debt-collector-garnishment/ – if you do not see where your state is covered in the comments on that page, post a comment and include your state.
IL
Court costs and fees are normally added to the balance being sued for.
Interest is charged on judgments as set by the court. State law will generally cap interest. That cap In Illinois is 9%.
Illinois protects 85% of wages from garnishment. You can petition the court and get a hearing to contest any garnishment amount as creating a hardship. If your income and expenses warrant it, the hearing could result in your being partially or fully exempt from wage garnishment.
Your vehicle is protected up to 2400 dollars of value.
Your home equity is protected up to 15k.
Your household and personal belongs are protected up to 4k.
Your bank account is protected up to the amount you would use as a wildcard that would include household goods exemptions.
Illinois is not a great place to be with unpaid judgment debts.
Hello,
I’ve had two credit cards go to a judgement. Is there any possibility of settling? One is for $6000 and the other is for $2000. Should I file Chapter 13?
Thanks,
Phil
Settling judgment debt is possible. How long have they gone unpaid? Are you paying other credit cards and loans on time, and t=does that show on your credit reports? Are there other collections on your credit reports?
Who are the plaintiffs that sued and has the judgments?
Settling judgment debts on credit cards is best done in a single lump sum payment. How much money can you pull together, and over what period of time, in order to negotiate and pay these off?
Thanks for the reply! $6000 judgment is about 2 years old and they tried to attach a lien (although I don’t own any real property). $2000 judgment was this past spring. I have paid off auto loan and have one credit card paid and in good standing. I think there might be a couple small accounts that went to collection but are past statute of limitations.
$6000 judgment is from Legal Recovery Law Offices (Capital One Bank)
$2000 is from Winn Law Group (Calvary portfolio – HSBC Bank)
I have had a job and some stability for the past couple years. I would like to satisfy these debts and willing to gather the lump sums within the next 6 months.
Phil
With the details I have to go on, I would look at accumulating 50% to 60% for the settlements. If they see you as highly collectable you could be looking at 70%.
While there are some exceptions, I generally do not see much productive coming from reaching out to negotiate any pay off amounts, until you have most of the money you will need in hand, or readily available. You could settle one at a time, but that first one could update the court record and your credit report as satisfied, which can sometimes lead to more aggressive collection from the remaining judgment creditor.
Dear Michael ,
I live in Nevada.
Do far only a Target showing on credit report, I have not made payments for almost two years and was in bankruptcy ch 13 for a year with no payments made since attorney never completed the filings it was dismissed in March if this year . So far only capitol management has written a letter…. And the validation I asked for came from Disvover not capitol management … Very odd not sure who is collecting. So far I am waiting to see who comes after me . I would like to work with your debt counselors as I am so depleated after fighting the dishonest attorney for a year in court . I of not have money for settlement now but may after the disgorgement comes if the attorney goes not appeal , which slows everything down . I was told that since it has been two years the credit card companies may leave me alone .
Thank you
Meta
It may be that creditors leave you alone, but they may not.
Discover has not been much for selling their defaulted credit card debts for several years now. They responded with validation directly to you because they likely still own the account (AMEX does not sell debt either). Your validation letter to Capital Management may lead to someone looking at your collectability more closely. What type of collections notices or calls have you received from anyone else?
You will benefit from talking to a specialist, or even working directly with one. Call and talk to one at 800-939-8357.