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 Posted: Thu Jun 29, 2006 3:35 pm Subject: T&C payment amounts |
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Hello!
I just signed up with T&C. I'm looking at the contract and according to that I will be on the plan 40 months. The balance on my biggest credit card is 8,000. They show payment amount will be 50 dollars. 50 dollars x 40 months does not equal 8,000. Can someone help me understand how this works?
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Susan
Joined: 29 Jun 2006
Posts: 3
Debtcc Points: 110
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| Posted: Thu Jun 29, 2006 3:57 pm Subject: |
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Check your contract once again. Are the payments fixed monthly or biweekly? Besides, check the accounts that have been included in the plan.
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anthony
Joined: 22 Jun 2006
Posts: 462
Debtcc Points: 8670
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| Posted: Thu Jun 29, 2006 4:01 pm Subject: |
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Ok so maybe once the smaller ones are paid off, they take that extra money and apply it to the larger balances? That must be how it works. I just hate calling them. I waited on hold 30 minutes today.
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Susan
Joined: 29 Jun 2006
Posts: 3
Debtcc Points: 110
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| Posted: Thu Jun 29, 2006 4:08 pm Subject: |
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I guess that was kind of a dumb question. Of course if I take the monthly payment amount x40 months it does equal my debt amount. Hey! I am earning points for asking stupid questions!
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Susan
Joined: 29 Jun 2006
Posts: 3
Debtcc Points: 110
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| Posted: Thu Jun 29, 2006 10:26 pm Subject: |
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If there is a drawback to T&C it is the hold times. I have found that if I call as soon as they open which is 8 on some days and 9 on others, the wait is not as long. Also, I don't know what time zone you are in but they are in Alabama and are Central Standard Time.
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Lorri
Moderator
Joined: 27 Apr 2006
Posts: 1728
Debtcc Points: 20969
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| Posted: Tue Jul 11, 2006 7:54 pm Subject: T&C |
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Hi!
I just talked with T&C today and they are sending me my contract information. I just have a quick question.. they were closed when I called them back to ask. They said my credit report and scores would start to get better within three months. Can anyone confirm that that happened for them? Also, she said they pay everyone up front, did I understand that correctly.. did you actually get receipts of paid off accounts and then you just owed T&C? It all seems so simple I just wanted to make sure everyone else has had good results.
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toby2222001
Joined: 02 Jul 2006
Posts: 28
Debtcc Points: 1122
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| Posted: Wed Jul 12, 2006 5:31 am Subject: |
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T&C does not pay the creditors up front and then you pay back T&C. You send your proposed payment and then they pay your creditors monthly. THis is a common misunderstanding. I have had excellent results with T&C and I have been with them since December. Our credit cards that are in consolidation are reporting as consumer credit counseling/paid as agreed and our scores have increased a little.
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NotsoLucky
Joined: 02 Nov 2005
Posts: 3154
Debtcc Points: 45650
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| Posted: Thu Jul 13, 2006 8:18 am Subject: |
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does T&C work with most of pdls and credit cards? i have several pdls from internet and storefront...
can anyone please tell me how to contact with them.
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vivian
Joined: 10 Jul 2006
Posts: 25
Location: california Debtcc Points: 631
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| Posted: Thu Jul 13, 2006 1:04 pm Subject: |
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Vivian, stay here for a while and you will get lots of suggestions on dealing with the loan companies. Since you have registered in this website, someone from your area will be calling you for a free counseling. You can expect the call anytime. Let us know how things were planned with your consultant.
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anthony
Joined: 22 Jun 2006
Posts: 462
Debtcc Points: 8670
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| Posted: Thu Jul 13, 2006 6:41 pm Subject: |
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thanks, i'll wait for the call and see how it goes.
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vivian
Joined: 10 Jul 2006
Posts: 25
Location: california Debtcc Points: 631
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