Debt Elimination Companies

Anyone have any updated info on Destination Debt Solutions?

I am about to sign a contract with this company. most of my debt is payday loans- they were the only company that would touch them. Are they legit? Anyone been scammed?

Public Comments

1. This company takes your monthly payments and offers to settle your debts once enough is in the account. They will take your fees out first. Your payday loan firms are not obligated to accept settlements/terms from any 3rd party company you hire. You can make your own settlements...You don't need any 3rd party company to do this. This way any money you save can go towards settling the debts rather than going to some company's fees.
2. Most legitimate credit couseling companies won't touch payday loans because the payday loan companies refuse to work with them. This company's website seems to claim they specialize in payday loans. I'm not sure that's a good sign. It could be a hook to take in folks drowning in payday loans. Before you sign, do a thorough seach. Check with the BBB -- I don't put a lot of faith in the BBB but it might give you some insight. Also, google the company name + complaints and see what pops up.
3. Sign a contract to do what? And how much does this company want from you up front or in payments so they can either make this debt go away or get the payday collectors to reduce the debt? You are wasting money and time bothering with any company that wants a fee for you to consolidate or help negotiate down your debt. You can do this yourself or with the help of a non profit agency that isn't out to sucker you. http://www.nfcc.org
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