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Well i joined a debt managment place but i am still getting collection calles and late fees and noone can help me there so i was thinking that maybe i should change comp. I dont even know if i can but i was just wondering

Posted: Sat Nov 11, 2006 10:36 am Subject:

Yes, you can cancel the contract with the company earlier signed and enroll with a new one.

You should ask your consolidation company the status of your debt accounts included in the consolidation. When you enroll in this program, creditors start receiving money from the first month after all negotiations are done. If you have been paying to them, you need to know whether it was applied to your accounts.

One question, mostly people confuse a consolidation program with a debt settlement program. I hope you are clear with the program signed for. Collection calls continue and late fees add on if you have hired for a debt settlement program. The accounts remain in default for few months before the settlement company sends proposals to the creditors that you are unable to pay the full amount. Negotiations are done after which creditors agree for a settlement.

Posted: Sat Nov 11, 2006 5:44 pm Subject:

I don't suggest that you continue to use the debt settlement company. Most of them can get your debt settled, but I think it is actually better just to consolidate them, if you can. I was enrolled in a debt consolidation program, and all of my creditors accepted the proposals. I later decided that I didn't want to continue after 1 month, and cancelled the agreement. I contacted all of my creditors and they are all willing to accept the same payment from me directly. Maybe you should try to see if they will work with you and accept payments of $25-$50 mon. if you can afford it. Good luck..

Posted: Sat Nov 11, 2006 6:26 pm Subject:

Most of the debt companies say that the creditors will stop calling after 3 consecutive pmts, so that is 3 more months that you are going to be harrassed by them. When my creditors received my 1st pmt, they stopped calling and one of them was in collections with NCO, and they have stopped calling also, imagine that b/c they usually call everyday. I suggest that you do what you think will be easier for you, especially financial, b/c you don't want to get behind on something that you are current on. I would keep paying on my current bills, and just try to get at least a $20 pmt to all of the defaulted creditors. If they are defaulted, they are already affecting your credit.

Posted: Thu Nov 16, 2006 5:34 pm Subject:

I just started 2 months ago with a settlement company. They told me they don't start negotiating until I have made 3 paymnents to them. I will have made my 2nd paynent nest week. The company I am with are very helpful on the phone & have taken info on harassing companies. I hope I did the right thing