About how much would Debt Settlement cost?

[MsPenny]

I've finally got a second part-time job to finally take care of all my debt that's been hanging with me since college. I've been at this job for two months saving up the cash. Now just because I got the second job, doesn't mean I have all the money in the world to spend whatever on settling my debt. About how much would it cost to do debt settlement? It there a set rate or does it depend on exactly how much debt I have? Any info would help, or even suggestions on great debt settlement companies (preferably the least expensive).

[mycreditgroup]

Hello MsPenny,

The industry average for debt settlement companies is 15% to 20 % of the total amount of you debt you owe. In other words, if you owed $100,000 in credit card debt, the average debt settlement company would charge you 15 to 20 thousand dollars in fees (ya, i know what you're thinking)

Depending the circumstances, they could probably get you a deal in the neighborhood of .50 on the dollar

In case you were wondering, we charge 5% and it goes down after 50K in debt. My Credit Group is by far the most affordable debt settlement service available.