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 Posted: Fri Dec 15, 2006 2:00 pm Subject: Consumer Credit Counseling of America |
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Hello,
I just registered on this site on Wed 12/13. I have since spoken with the counselor that was referred to me. I discussed my situation with the counselor and she gave me a couple options, consolidation or settlement.
Here's my debt background: 1 collection account of $6600 with NCO Financial, 1 collection account of $1200 with Asset Acceptance, 1 active account of $1200, and another active account of $870. Both active accounts are in good standing. We came to the conclusion (and I was confortable with it) that I should keep making payments on the active accounts since I had no problems with them and should just focus on the collection accounts. It sounds like the settlement option is the more suitable to my situation, so that's what I am going with. The terms are $254 for 24 months. The first payment would be a non-refundable service fee and then each payment would be debited from my bank account to an attorney, Richard Brennan. Admittedly, I was uneasy about giving my bank information to the counselor, but I wanted to get it started and since she was referred to me by this site, I trusted it. Now, I have been using my head the last 2 days and read alot of posts on this site and the BBB. I know that you have to be patient in debt settlement, but there are so many negative stories about this Richard Brennan that I feel more uncertain than I did on Tuesday before I even started the process. I haven't signed anything yet, but they do have my bank info. I feel like I rushed into it and should have researched more, which is what I'm doing now. I've heard good things about forget-a-debt and am wondering if I should contact them. If this other company is only going to rip me off, then I should get out ASAP. It is so frustrating that wherever you go, there is always some troll that will prey on those who seek help.
And let me say this, for whatever reason I let these debts get so out-of-control, I am willing to pay them off over time, I just don't have enough to satisfy their lump-sum demands.
Please, I value anyone's input and relevant experience in this matter, because I don't think I am getting the best advise from my counselor.
Thank you.
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jpharms15
Joined: 12 Dec 2006
Posts: 3
Debtcc Points: 130
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| Posted: Fri Dec 15, 2006 2:16 pm Subject: |
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You have good reason to be concerned. Richard Brennan has had a number of problems that I believe he is currently trying to take care of. I'm surprised he's trying to get new clients when his existing clients are poorly taken care of. If you're in the business of debt settlement, I think you may want to contact forget-a-debt and see what they offer or at least give you advice about whether or not settlement is right for you. Most people have said nice things about them, so I'm sure they can help.
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johng
Joined: 16 Jul 2006
Posts: 67
Debtcc Points: 1601
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| Posted: Fri Dec 15, 2006 2:24 pm Subject: |
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After you registered here, this website picked the consolidation company in your area for the free quote only, and to discuss your situation. The counseling is free. I was told the job of this website ends there. Any communications to be done is to be with the company that offered the counseling. The forum is for everyone, you will find info on any company who has good as well as bad feedback.
If you feel interested, do your research on CCCA and R B Brennan before signing up. You will find many posts on Richard A Brennan here, and maybe everyone is complaining against them. I have no idea why there are only negative posts. Internet is available to everyone. If a customer who had bad experience with Richard A Brennan or CCCA is posting, there must be customers with good experiences also. I am curious to see their posts too. It also makes me feel that the negatives posted here are coming from their competent or people with bad experience. The competitors maybe checking on them and will find your post to make a negative comment.
You have to do your own research before signing up with any company. Settlement needs patience, be sure that you are with the right company.
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PassionHunting
Joined: 30 Jun 2006
Posts: 514
Debtcc Points: 3674
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| Posted: Tue Dec 19, 2006 11:30 am Subject: Is this already a binding contract? |
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If I've given the company my info on the phone and agreed to the plan, but haven't signed the contract yet, is it a binding agreement?
I'm apprehensive of continuing with this company because of all the negative posts and the BBB records. Of course, now I feel very dumb because I was in such a hurry to get this started that I wasn't thinking straight and doing research before I spoke with the counselor.
Basically, I need to know if I'm responsible for making the 1st payment if I haven't signed any documents yet.
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jpharms15
Joined: 12 Dec 2006
Posts: 3
Debtcc Points: 130
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| Posted: Tue Dec 19, 2006 2:39 pm Subject: |
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A contract become binding after you give your authorization and sign it. It can be canceled anytime because the contract never happened.
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a_neblat
Joined: 10 Aug 2006
Posts: 408
Debtcc Points: 5814
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| Posted: Tue Dec 19, 2006 6:10 pm Subject: Original Creditors and Third Party Debt Collectors |
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The fair debt collection practices act
When a third party debt collector buys information relating to a debt, they attempt to establish a contract with a debtor through the use of lies and intimidation.
No contract exists between a third party debt collector and a debtor
debt collectors are regulated by state and federal law
They cannot contact debtors at times or places they know are inconvenient
They cannot contact any third parties about a debtor or a debt
They cannot charge a debtor interest, fees, or collection charges
Except for those in the original agreement with the original creditor
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