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I found a site that states if you give them $3000.00, your statement payment + $43.00 they will make the paymt on your account with their check stating they are the new owners of this account and if cashed the bill is paid in full and that the credit card company now has a contract. Once the check is cashed you are free from it and they take it over??? Could this be true??? The name of the company is: Integrity Debt Relief Group. Have you heard of them??
I have never heard of something like this. I would really approach this with caution. How do you know they will not settle the debt for less and have it mess up your report. You know how original creditors and collectors are always listed on your credit report? Well even if you sell your debt YOU are the original borrower and I would think whatever they do with the debt would be reflected on your report. Why not just call and try to take care of the debt yourself. Ask if the lender would consider a debt settlement. It woudl be a lot safer.
Hi Margaret,
Usually when things seem to good to be true they usually aren't. So if it was me I would be scared to trust them.
I would not advise anyone to go this route. You are correct most are too good to be true. The safest loans are always the ones through your local bank. I believe these people just purchase the debt but when they use the money to settle your debt the adverse marks will appear on the persons credit record. Just thin about it. It would be pretty bad for credit card companies if someone purchased someone elses debt and then said to the company "here is $500. Too bad about the other $3000". They would not just let something like this go. It would at least appear on your report for you would be the original owner.