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 Posted: Fri Nov 23, 2007 12:32 pm Subject: Federated Financial Services |
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I signed up with this website and somebody from Federated Financial called me today and I signed up with them for the program, made some digital signatures etc to get started.
I'm wondering if any of you have dealt with this organization before and could give me some feedback. My first payment is set for Dec. 3rd, so I still have time to change my mind if necessary.
They did mention that their fees was about $50 per month and the initial month's payment would go to them, which would be refunded to me at the end of the program.
Any feedback on this organization would be very helpful!
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swami108
Joined: 21 Nov 2007
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RoxyNY
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| Posted: Fri Nov 23, 2007 8:28 pm Subject: |
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Hi Swami! I'm using them now. I'm very pleased with them so far. I made my first months payment to them & then my second payment went to the creditors. FF called me & told me the payment was received & they would soon pay the creditors & that the proposals were all accepted. Its a little stressful when you first start, but that's because everyone is calling you still. Once the proposals get sent & received by the proper people then the calls should stop. I remember them telling me my first payment would be refunded if my payments were on time & I think its in the contract.
Once you get the contract, read it carefully. I called them about several things in there I didn't get, but they broke it down for me.
Best of luck!! Let us know how you are doing with the plan.
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lawn1016
Joined: 26 Jul 2007
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| Posted: Fri Nov 23, 2007 10:45 pm Subject: |
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Thanks for the feedback. Question--so the first payment goes to them...does that mean I would have to send an additional payment to the creditors as well? Otherwise, how would my dues be paid for the first month?
Also, they mentioned that their monthly fees was $50. Is that the usual amount for these services?
Thanks again!
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| Posted: Sat Nov 24, 2007 2:43 pm Subject: |
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My monthly fee is $40, but it depends on the debt amount.
I'm not sure about the payment to the creditors...I'd call them & ask. If you can make the payment & still have enough money for the payment to FF, you might want to do it...but definately check with FF first.
In my situation, I was already past due...so I took all my funds & put it towards the program. By the time the creditors got the payment, I was between 90-120day s past due-but the proposals were still accepted by the creditors.
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lawn1016
Joined: 26 Jul 2007
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| Posted: Sun Nov 25, 2007 8:39 am Subject: |
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Thanks....also, are you able to check your status on a regular basis online? Like being able to check how much your creditors are being paid each month, etc...
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swami108
Joined: 21 Nov 2007
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