| Message |
Author |
 Posted: Tue Mar 06, 2007 2:48 pm Subject: Quick question... |
|
|
I think I won't be able to make payment for 3 more month. After that I will have income to pay for credit counseling (1 payment for all credit card with reduced interests)
My question is: will I suffer anything bisided 3 month of missed payments on my credit report?
Will the credit counseling (or any other service) remove accruded interest and over limit fees + lower the interest, after I will be deliquent for 3 month?
Do you think I will pay higher payments for counseling in result of that?
Thank you
Andrei
|
|
adobrand
Joined: 29 Sep 2006
Posts: 21
Debtcc Points: 886
|
|
|
| Posted: Tue Mar 06, 2007 3:08 pm Subject: |
|
|
You will be able to catch up your payments through credit counseling. The consolidation company will lower down the existing interest rates with your creditors and waive off the fees.
Since you will be already behind in your payments by three months, you can look towards debt settlement on that point and have the total debt negotiated into half. Talk to different settlement companies and figure out the best options that you may have.
|
|
mcranberra
Joined: 14 Aug 2006
Posts: 527
Debtcc Points: 7151
|
|
|
| Posted: Tue Mar 06, 2007 7:56 pm Subject: |
|
|
Thanks Mcranberra,
Yes, I'm talking to about 5 companies now..
Forgetadebt ( they do both settlement and consolidation) and Superior (settlement)
Also Hoffman, Brinker & Roberts, freedomdebt, credit couseling usa, and hess smthing...
|
|
adobrand
Joined: 29 Sep 2006
Posts: 21
Debtcc Points: 886
|
|
|
| Posted: Tue Mar 06, 2007 11:54 pm Subject: |
|
|
Andrei, since you are considering settlement, which company's approach did you like the best and why? I am coming up with some information for some people and would like to know how you felt about some of the companies. Tell us a little bit about your impressionof the companies, their representatives, etc. I think it's something that we can put together and learn from for everyone that visits this board. I know you've talked to a few of them, so your impressions would be great.
|
|
johng
Joined: 16 Jul 2006
Posts: 67
Debtcc Points: 1601
|
|
|
| Posted: Thu Mar 08, 2007 10:11 pm Subject: |
|
|
I liked forgetadebt respresentative a lot... Very helpful guy. Still their fees are not performance based, as I've read somewhere in the forum.
Superior debt lady was very helpful too.
freedom debt guy was kinda pushy with faxing him statements right away.
Update all soon
|
|
adobrand
Joined: 29 Sep 2006
Posts: 21
Debtcc Points: 886
|
|
|
| Posted: Thu Mar 08, 2007 11:43 pm Subject: |
|
|
Interesting. What about the actual settlement programs? Some people find one program to be better than the other for this or that reason. Are they all similar or does one stand out? Does the method of one make you feel more comfortable? I'm sure this is a question that EVERYONE looking for settlement is trying to answer.
You mentioned that the reps have been pretty decent (except for freedom), does one stand out as the go to person for help regardless of whether or not you join their program?
It seems like people are looking for somebody smart to talk to about these things who knows it inside and out. Do you get the impression that one or two of them will definitely point a person in the right direction?
great start so far.
J
|
|
johng
Joined: 16 Jul 2006
Posts: 67
Debtcc Points: 1601
|
|
|
| Posted: Fri Mar 09, 2007 9:43 am Subject: |
|
|
Whatever company you decide to go through, be sure and check their record out with the BBB. There are companies that scam people when it comes to consolidation and settlement, too. Good Luck..Karen
_________________
As long as you are alive, there's always hope
|
|
Bossy4455
Moderator
Joined: 27 Feb 2006
Posts: 5465
Debtcc Points: 64243
|
|
|
| Posted: Sat Mar 10, 2007 2:35 pm Subject: |
|
|
bump, good discussion.
|
|
johng
Joined: 16 Jul 2006
Posts: 67
Debtcc Points: 1601
|
|
|
