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 Posted: Tue Jul 17, 2007 1:48 pm Subject: debt settlement |
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I have enrolled with Credit Consultants to help in paying off credit card balances that I owe totaling about 15000. They explained to me that I would have these paid off in 36 months. I am currently paying 192.00 per month and have made 4 payments so far. I was told that they take 1/2 of my highest balance due and once I have saved up that amount they then contact that creditor for settlement. Does this sound right? I have never gotten in this position before and just not familiar with all this stuff. Has anyone dealt with Credit Consultants LLC before or know anything about them. According to info they sent me, they are enrolled with BBB etc. Any advise?
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angie35016
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| Posted: Tue Jul 17, 2007 2:17 pm Subject: |
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"once I have saved up that amount they then contact that creditor for settlement."
- this is the normal procedure for debt settlement.
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Jason Hunter
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JasonH
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| Posted: Tue Jul 17, 2007 2:51 pm Subject: debt settlement |
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So is debt settlement usually a good way to handle these things after all is said and done?
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angie35016
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| Posted: Tue Jul 17, 2007 3:07 pm Subject: |
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Did you check the company with the local BBB and with your state attorney general's office? You will come to know about their feedbacks from other customers. Since you have already sent four payments to the escrow account, ask the company how long is it going to take to start their negotiations with the creditors?
Do you have the agreement copy from them?
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orake
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| Posted: Wed Jul 18, 2007 6:20 am Subject: |
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I do have a copy of the agreement that I signed with them. They explained to me that once I have paid 1/2 of my highest credit card debt, they will then contact that creditor for settlement. They state that they prefer to collect 1/2 of the highest balance first and work highest to lowest but if I wanted to do lowest to highest they would do that also.
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angie35016
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