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I have also been with MMG for 2 years. They have yet to settle an account. I have also paid them over 3000.00. Where do i go to get help. I have also noticed thier website is no longer working.

Hi Mary,

I think that you should send a written explanation to the credit bureaus and try to get this item removed from your credit file. Or you can add a 100 word statement in your credit file so that the future creditors have a positive view of your file.

I am towards the end of my time with them. They are now called Risk Management Partners. They have settled two of four debts. One went to court and MMG said "Not our problem anymore". The last one, with the largest amount owed is still trying to be negotiated. But to no avail. The credit card company sends the debt to a debt collector. Later on the CC takes it back and then gives it to a law firm. Back and forth. I want to negotiated with the CC company itself but am afraid. Also seeing how the amount has gone up about $1k since I started with MMG. They say to stop paying when you join them and they negoaite for that amount, even if the CC company sill ads on interest.

I can definitely relate to what alot of the customers are saying. I have been with MMG for a little over a year and I am not pleased with how my account is going. I was referred by a reputable agency and when I joined, they were a member of the BBB. They have done a horrible job in managing my account. I was supposed to have 4 accounts settled and still nothing. They even debited my account twice within a 2 day period. They never return calls and when you call them no one answers. My account is now "On Hold" with them but I want to cancel and settle with my creditors. If I cancel my account, I end up losing $999 and that is a lot of money for them not doing their jobs. I have a list of issues of which should grant me not to have to pay the retainer fees. I will bite the $250 but I don't feel that I should have to pay the additional retainer fees as well as the cancellation fee. Please keep in mind that according to their contract, if you have no accounts settled then you do not have to pay the cancellation fee.

I do not show them on my credit report. What is the best way for me to fight this with getting the monies that I have paid without having to pay the other fees. Mad

I am going to contact my credit card tomorrow and ask if they have any information (ie. settlement offers). But I am afraid to try and settle myself. Not for nothing but MMG did in-fact settle two accounts for about 50% of what was owed. This is why I still think of hanging in there. But I am about to buy a home and I can not with my last creditor showing an outstanding balance.

Speaking with them on the phone is crazy enough, but I can't imagine trying to get back my money from them.

On a side note, the customer service guy is completely unhelpful and rude. But the legal guy, Tekkain, has stepped up and helped. At least as much as he can.

Hi citykid

Welcome to the forums.

Here is some important tip to imrpove your credit rating just before you are looking forward to buy a new home. Maybe it will be helpful to you:

Check for incorrect entries - It is mandatory to check your credit report for any mistakes from all the three credit reporting agencies. You can review your report for at least once in a year as well as several months before you apply for a loan.

Timely payments It will be considered a very good practice if you always pay your bills on time. Your prompt payments will put you in a much comfortable position before you apply for a loan. This point is emphasized because a late or missed payment just before applying for a loan lowers the credit score and has worse impact than a missed payment five years ago.

Bring credit balance to the minimum - It is always beneficial to reduce the credit card balances as much as possible. The FICO scores get affected due to how much money you owe on some cards relative to your total credit limit. Credit scores are seen improving if the balances are kept below 25% of the credit card limit.

Don't linger your payments It is suggested not to increase the ratio by closing an account and transferring the remaining balance to another account since the ratio of the credit card balance is linked to the credit limit. Doing this will lower the credit score which should not be generally done while you are on your way to increase your credit score.

Unused accounts to be kept active - While you are applying for a loan, it is suggested not to close any unused account. At the same time, it is suggested not to open a new account also during that time. It is said because if you are having a short credit history or less number of accounts, the credit score gets lowered when a new account is opened as there is no proven track record of it.

Please do let us know your feedback. We will appreciate your comments and suggestions for the community welfare.

Regards
Roxette

Okay, here's the latest information concerning MMG/Risk Management. I contacted the law firm handling my credit account and came to an agreement with them!!!! Shocked

I can't imagine what risk mgt has been doing all this time.

I put in to cancel my acct. with Risk Mgt. They said fine, they'll let my credit card know they no longer have power of attorney BUT they need a letter back from them just letting them know that the CC got the notice of no longer having power of attorney. I spoke with the CC and they said there is no way they are going to send a letter to them. There is no reason to. So until Risk mgt gets that letter, I won't get my money. ARGH! What am I to do? I really can't afford an attorney.

Citykid, I will suggest you to take expert advice from the consultant in this situation. Most probably, he will be able to help you out in this matter.

They said join our debt consolidation company.

Did you join them?

No, because I settled with the collection agancy myself.

Lorraina, did you ever get your money from MMG/Risk Mgt?

I hve been trying to respond to the questions of MMG Finance now for 4 days and cant get the blog to go thru, I am in Arizona and know what the judge has said and they dont want to be the last 1000 people in line to get the money back, if this gets thru I will explain

the middle of August MMG went to court and were told to stop marketing, pay a fine and repay the people that they have not settled accounts for (actually very few have been settled) an investigative reporter, is compiling information on other states so he can get the reports out so the banking commission and attorney general has complaints to place suits against MMG, but he needs your help, email him with your complaint, name and state, he has been awsome for people in Arizona, and has gotten money back for all in that state, but without a state or address, complaint or name they cant go further, if this goes thru I will add a URL of the news program that started it

[email removed as per forum rules-Mike]

Ben..who and how do I send a letter to add to my credit repoprt? I am trying to get out of this company and would love a note on my credit report of this MAJOR mistake made. I am lookign to get a loan so I can work with the creditors myself and a note on my file might help!!
Lori

Schim21, you need to send a letter to each of the credit reporting agencies, but first write to chayes(at)kpho.com as he is trying to take this companies scheme nationwide like he did in Arizona, and he worked and was able to get the peoples money back in Arizona. After you get the documents, then attach a copy of their outcome of the hearing with the Arizona Attorney general to each of the agencies that notes their activities and their penalty, that should cover your credit report. But to help others in other states you need to make a complaint, read my previous blogs and follow them, I did and got satisfaction. MMG is running out of money so don't be one of the last states to place a suit against them, get your complaint in now, Chris Hayes can help facilitate.

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