I need help with paying off my credit card debts. There are so many debt reduction /consolidation agencies that I don't know which one is good/authentic and will give the best rate (discount). For those who had gone through this experience, please advise. Thanks.
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Thu, May 7, 2009
May 7th, 2009 at 5:05 am
I wouldn't use any of them they are rip off artists. They take your money and do nothing, been there done that. Go to Consumer Counseling, in every city or county, it is free, non profit and they don't charge but they will contact all the places you owe money to and get you with lower payments and great ways of getting out of debt !! They are well known by all companies and acknowledge Consumer Credit Counseling as serious and good to work with .
May 7th, 2009 at 5:05 am
Run and run fast from these companies.
I can't tell you the number of complaints on here about them.
They only take your money, tell you not to pay your bills, they don't pay your bills, and you end up in court anyway.
Please google debt negotiation complaint to see how it all works.
If it works, you will have paid thousands of dollars that you could have paid to the credit card companies yourself.
Get a book on debt.
It will teach you how to negotiate, reduce interest, or settle.
Or google NFCC.org
national foundation for consumer credit councelling.
click on an office near you, and make an appointment.
There is no fee for this federal program.
You can do this yourself – don't get taken by horrendous crooks…..
May 7th, 2009 at 5:05 am
Each debt consolidation service involves different criteria. All of them start with you gathering all your credit statements to total your debt. Choose a non-profit service for non bias help. Stay away from the online debt consolidation services if you can in my opinion, unless they have a brick and mortar office.
May 7th, 2009 at 5:05 am
It depends on the amount of debt you have…how much do you have?
May 7th, 2009 at 5:05 am
The discount you get depends on the amount of debt you have and your creditor. If you go for a reputable company like freedom debt relief then the chances are that you get maximum benefit. I did my settlement with the help of freedom debt relief's debt reduction program. I am pretty satisfied with their service, they even have a good track record, so you can go with them.
May 7th, 2009 at 5:05 am
The problem with credit counseling is that it’ll take you 5 to 7 years to complete since it can only reduce a minor portion of your interest rates. According to Consumer Reports, the credit counseling dropout rate is 79%! Unfortunately, many of these people end up doing bankruptcy. The dropout rate is so high because credit counseling gives people monthly payments as the same minimums they were struggling with and since it only reduces interest, it barely reduces your debt. Another problem with credit counseling os that it appears negatively on your credit report telling other creditors you were unfit to mage your debt and had to hire a credit counselor. The good news is that I can get you a low monthly payment and slash as much as 70% off your total debt including principal, interest, and fees and we won’t show on your credit report. i used this company called debtfreeleague. they are a debt settlement company which are amazing. i had 10k in debt and with them i only paid $4,500 and did it in less time than if i was just sending my minimum payments. i really recomend that you try them., tey are the best settlement company.
May 7th, 2009 at 5:05 am
Most of them give the same deduction. Its really the credit card issuer that accepts a proposal that the company creates for you. But I do know that the agency with the lowest enrollment fee and maintenance costs is ConsumerCredit.com They have a chart on their site that shows the differences.
They also have a lot of information about saving money, and calculators and stuff. You can call them for free and talk with a certified counselor with no obligation.
Good luck. Big credit card debt is a !@#%.
May 7th, 2009 at 5:05 am
Hi,
I used "Credit Solution" to settle my debt and avoid bankruptcy.They managed to reduce my debt up to 58%.It's legitimate . I came across this company on NBC News Special Edition.Check it out here:
http://CreditSolution.ez-mart.biz