Do credit card debt relief companies really help or make things worst?
Does dealing with them destroy your credit for a long time or temporarily ?
Are there any good companies out there ?
Does dealing with them destroy your credit for a long time or temporarily ?
Are there any good companies out there ?
February 6th, 2010 at 6:35 pm
they are in the game to make more money off you,
February 6th, 2010 at 6:35 pm
I went to a local company in my town. I was able to walk in the door, and sit down with a counselor, and they explained everything to me, and I got on the program and got ALL my debt paid. It took about three years.
It did not hurt my credit that I know of. Some years after that, I went to get a loan to buy a house and I was told that I had a very good credit rating, and I got the loan. And I’m living happily ever after.
I hear that there can be some scams online. I went to an actual local company and it worked out just fine.
Good luck!
February 6th, 2010 at 6:35 pm
A few of these outfits are reputable, but the vast majority of them are rip-offs. There are two basic types of debt relief: loan consolidation, where the law firm or other company that takes you on as a client arrange for your interest to be reduced or eliminated on debts so that when they pay off your debts and you become beholden to them, your one monthly payment is much less than the sum of the separate debts as they were; and debt restructuring, where law firms in general negotiate with and/or harrass your current creditors until the creditors either drop your debt rather than pay the court costs or slash the amount you owe, and again you make a single monthly payment through the law firm.
The second form of debt relief is the more predatory. They charge an up-front fee and then a monthly fee until the debts are resolved with absolutely no promise of how long that will take. It could be years. Whatever you do, run a Better Business Bureau of America check on any company you consider, and check how long they’ve been members (if they are at all) and how many complaints have been filed against them. Their rating is displayed online.
Also, it should go without saying, read every single word of any contracts they email you. If in doubt, find someone to help you make sense of the legalese. They’re almost all shameless scam artists.
February 6th, 2010 at 6:35 pm
They make things worse..AND they will charge you a fee to do so! LOL
If you really want some debt management help, find a local chapter of NFCC. They are a non profit debt counseling service.
February 6th, 2010 at 6:35 pm
I also have questions for my credit card. I posted my question on wish123 and got an answer from an expert who solved my problems. Highly recommend the website.
February 6th, 2010 at 6:35 pm
You can use this credit monitoring service to pre-estimate future scores for different scenarios of such payments – credit-report-free.totalh.com
February 6th, 2010 at 6:35 pm
Hi,
I used "Credit Solution" to settle my debt and avoid bankruptcy.They managed to reduce my debt up to 58% and improve my credit score .It’s legitimate . I came across this company on NBC News Special Edition.Check it out here:
http://Credit-Solutions.notlong.com
February 6th, 2010 at 6:35 pm
hello
yeah they will help in settling your debt and so that you can avoid the bankruptcy
they help you in maintaining a good credit score
it`s my personal view and am satisfied with the service
hope my answer will be of use to you