Vampchick21,

If paying your debts in full makes you happy that's great. If you had debts over $50,000 like some people on here your decision making would be different.

Happy Holidays

vampchick.. my sister is like you...
her and her husbands business collapsed about 10 years ago... they defaulted on pretty much every debt they had.

She got a job in Fort McMurray 8 years later (I'm not sure the exact dates) and was making serious money. She and her husband contacted each and every creditor and paid them off, one by one. Some of the creditors forgot about the debt, and didn't even have the paper work left .

She paid the debts and now feels whole as a person. I totally agree. That's more of a philosophical point of view. She could have easily not paid them.

Raymond

I guess I was right you’re not a man of your word; a real man would write the letter of apology. If you think Monty would lie is outrageous. The only loser on this site is you. The more you talk the more you make yourself look like an idiot. I showed the proof and now all you have is excuses, fess up like a real man would do and write the letter of apology, until then you’re just a chump.

joe,

My R9 debts are on for 6 years regardless if I pay or not. It's better that I paid, and looks much better if they show as paid rather than outstanding. For *ME*, this person writing this post, it made far more sense to pay that R9 of mine in full. That was the amount I owed, legitimately. You want to rack up several thousand dollars in debt and then pay only 10% of it, that's your own call, based on your own situation. My debts have never been higher than $2000 overall (since leaving high school at age 18), and most of that was from my early twenties when I was uneducated about finance....credit cards and high end shoe stores are not a good mix for me....(and those are all paid off several years ago), so why not pay exactly what I owed? Sure it took me months to save the money to pay it, but so what? It's now paid and I never have to think about it again. It's never ever going to jump back up at me, and on the off chance that it does because of some idiot, I have the documents to prove that it was paid in full.

You also HAVE said that anyone can get the 10% settlement, in several posts throughout this entire arguement. Fact is, not everyone can, and some of us prefer to pay exactly what we owe if we can.

Sorry about the lack of an apology, Joe, but only an idiot would fall for that one. On your Dec.19, 2007 post, on thread # 881, you indicated you had completed settlement of 13 debts for 10 cents on the dollar but still had 4 or 5 to go. Presently, you claim to have 2 remaining so that must mean you've completed either 15 or 16.

Three days previously, on your Dec. 16, 2007 post, you told Monty that the settled debts were all credit cards and ranged between $3K and $11K and were 15 to 20 months old. Another early post indicates the total amount owing was $110K. But that couldn't have included the $24K debt because $11K was the previous maximum.

You left out the fact that your house was being repossessed, or at least you were forced to get rid of it. Furthermore, in subsequent posts you disclosed that you had no job and weren't planning on buying a decent car for quite some time time because of the RBC judgment and the risk of bailiff seizure. Last week, you proudly announced you settled another 24K RBC debt for $2400. Given the fact that it was only a week old, I assume that it was among the 4 you included.

Anyhow, it's obviously possible if, someone is completely devoid of assets and income OR a debt is stats barred, that a creditor might take 10%. However, if someone has a good job, a home, cottage or valuable vehicle and investments, then they could easily ring up $150K on their credit cards/loans and be secure in the knowledge their assets would be safe from seizure if they only paid 10%. Sure, their credit score would be bad for a few years but they would have already gotten the money from the cards anyway. How retarded would someone have to be to believe that? Unless you plan on being a vagrant or a complete loser for the next 10 to 20 years, there's no way a creditor would be stupid enough to settle a large debt for 10%.

As far as verification goes, you could have sent those "agreements" in on the back of a cigarrette package and Monty would have backed you. He didn't even bother including any amounts or creditor names. He's only interested in getting rid of what he perceives are useless arguments on his forum because he thinks it will cost him potential advertising revenue.

He won't support anyone who he figures is causing a problem. My criterion was different in that I don't get paid for anything; so giving people correct and accurate information is my only guideline. That's why when someone, like yourself, starts leading people astray with baloney, I call it for what it is. It's easy to see how the objective of telling the truth can be compromised by advertising revenue goals.

Ray

PS: And Richard, please stop kissing asses, especially those of hucksters; it's undignified and a very transparent compromise of integrity.

vampchick... that's a good point..
It's all personal choice.

That's why people do debt settlement though. it's the same logic. they're almost bankrupt and overwhelmed with debt... they would rather pay something than write off the whole debt. debt settlement allows them to pay a portion of the debt... because they feel obligated to.. same as your logic.

These are topics that shouldn't be taken lightly. Bankruptcy and debt settlement are things that you should think long and hard about.

vampchick... you'll feel better in the overall for paying your debts.

Horacioeg,

I don’t take it kindly that you’re accusing me of committing fraud. It sounds like you’re a friend of Raymond’s and if you are tell him to crawl out of his hole and start writing my letter of apology. If you and Raymond think these letters are phoney lets place a wager in the amount of $1000.00 for each letter I prove that I settled for 10%.All I have to do is give you authorization to call the creditor and they will be glad to give you the bad news.

Happy Holidays

I never said everyone can, but if your debt is an R9 it is senseless to pay the full amount. The collection agency isn't going to do you any favors, the only thing they are going to do is take your money and update your file and your item is going to be on your credit file for another six years. Instead you could of settled the debt and saved some money and still would have ended up with the same result. There is an art to debt settlements. There are many factors you have to take into consideration when approaching these creditors.

Then mayhap you ought to consider rephrasing your advise to better represent what it actually is. Not advice so much as simply relating your own personal experience, since not everyone can actually get the magic 10% settlement.

And no, it is NOT always easy to pay a small debt like my own off in full. I had to tuck aside money from every pay for months in order to do so. But *I* owed the full amount and *I* would not have felt right paying less.

Thanks Richard C.I don't expect anything from Raymond, because I don't believe he is a man of his word.