GC SERVICES-has anyone tried debt settlement with them?

[Anonymous]

Just curious if anyone has tried a settlement with them?  If so, what was your expereince.

[Anonymous]

I used to work for them . . . for a week.  That company was malicious and unscrupulous.  They taught us to ask people "What does your family think of you, a man, who can't even pay his bills. Do they think you are really a man?"  As far as your question, I didnt hang around long enough to find out what kind of settlements they did.

[LynnInMN]

GC Services is a vendor for the US DOE and several FFELP lenders.  Settlements are possible....they will generally waive some or all of the collection fees.  Under certain circumstances they may waive some of the interest.  Keep in mind that you will receive a 1099 if they waive more than $600 so you will end up being taxed on your settlement.

[Anonymous]

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Drachen wrote:

I used to work for them . . . for a week.  That company was malicious and unscrupulous.  They taught us to ask people "What does your family think of you, a man, who can't even pay his bills. Do they think you are really a man?"  As far as your question, I didnt hang around long enough to find out what kind of settlements they did.

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Geez! That sounds like the creditors in Japan. They actually got in trouble for encouraging people to commit suicide, after the creditor had purchased life insurance on them. I just don't know how some people sleep at night.

[MattH]

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@Anonymous wrote:

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@Anonymous wrote:

I used to work for them . . . for a week. That company was malicious and unscrupulous. They taught us to ask people "What does your family think of you, a man, who can't even pay his bills. Do they think you are really a man?" As far as your question, I didnt hang around long enough to find out what kind of settlements they did.

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Geez! That sounds like the creditors in Japan. They actually got in trouble for encouraging people to commit suicide, after the creditor had purchased life insurance on them. I just don't know how some people sleep at night.

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According to the book Law in Everyday Japan: Sex, Sumo, Suicide, and Statutes by Mark D. West, University of Chicago Press, 2005, several hundred people in Japan attempt suicide over money troubles every day, of whom about 30 die. Recently, in an attempt to ameliorate the problem, the government created something called "civil rehabilitation" to reduce the stigma of "bankruptcy."