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debt settlement

i am looking at using XXXXXXXX of canada to take care of all of my payday loans that are out of control..i cannot keep up!!!
My c redit is terrible…is this what i should do and how will it affect my credit record

Posted from: Ontario

One Response to “debt settlement”

A licensed trustee said...

First, I XXXXXX’ed out the name of the company you are thinking about dealing with for liability reasons.

Generally speaking, I have a very low opinion of most of these companies. My concern is that most of them seem to charge people a fee and then refer them to a trustee to file a consumer proposal to deal with their debts.

If they offer a free consult by all means go and see what they have to say, BUT BEFORE YOU PAY THEM A FEE find out if they are going to refer you elsewhere for the actual work. If they are then DON’T PAY THEM, just come back to this site and find a trustee in your area that you can speak to directly. This way you gert to keep the fee – I’m sure you can find otherways to use it.