Debt can be overwhelming and it may seem to you that you can't deal with it on your own. So you pay someone like Gitmead & Assoc. to do it for you. That's what I did. But if I had it to do over again, I would do it myself. For one thing you won't save much money by paying Gitmead to negotiate you...r debt. They will do the negotiation so you don't have to do that. And they are professional and will handle all of it. But you will have the settlement cost, then you will have the fees charged by Gitmead, and don't forget, you will pay taxes on the amount that was forgiven. So in the end you really don't save much cash, if anything. You just don't have to do the negotiations yourself. If I had it to do over again, I would take a few days off work and do nothing but call creditors and attempt to work out my own arrangements. If you have a hardship, you have a hardship, it's that simple. But these companies like Gitmead will not save you cash; you end up paying the full amount of your debt: you pay the lesser amount to your creditor, you pay the fee's to the company that negotiates for you, then you pay the government a tax on the amount that you were forgiven. You end up paying the full debt, just to differing entities. I will say it again, if I had it to do over, I would do it my self. Then I actually would have saved some money.

I began working with Gitmeid Law 3 years ago to settle my debt. They start out with a base payment every month but when they negotiate with your credit card company you have to pay an additional amount plus fees for their profit, which can be hundreds of extra dollars per month. My cards were paid of...f faster but in the end with fees I stilled paid the same amount I would have on my own. Also, the debt you paid is considered taxable income so you will receive a 1099 from your bank and you will have to pay taxes on the negotiated amount. This adds up. I wouldn't recommend using this company and if you can find another way to pay off your debt without paying someone to help, you might be better off. Your bank can legally take you to court for not paying, which mine did! You WILL pay more than the original amount they tell you, You WILL get taxed, and you WON'T save very much in the end.