Good morning - first time posting here (friend recommended it).
As of yesterday, I am enrolled in a Debt Settlement Program with Clear One Advantage. I am about 30k-ish in debt and with my monthly payments, I have more money coming out than I have coming in.
It was a desperation move and it all happened so quickly from applying to approval, that I didn't do my research. I've been reading a lot of reviews on the programs and just the company in general and it seems the basic structure is about the same for all of them, but I'm honestly super scared right now. I have read stories of success, and I have read stories of people being sued, garnished wages, property being taken, etc. even whilst in these programs and at this point.. I have no idea what I need to do..
Do these programs work? I've read to the best that I can about them and it seems that I am given a savings account to "save" money to pay off the settlements they negotiate, but during that time, no payments are being made. It's all so confusing. And even if the company chooses to never settle, I'm stuck with interest, the full charges, late fees, and just all the other BS that comes with being in default with a creditor.
Help?