The fact is this is a very long post to the point were i couldnt read all of it. I have personally have never used this program but in my opinion its a bit shady. Im not saying that it wouldnt work or that it would. But if i was reading this post when i was in debt, I probably would have stayed clear and this is why. There are just as many good posts as bad posts. you got a 50/50 chance of sucess and that makes me absolutely nervous.

And as to a post i keep seeing about debt management/settlement companies being scams is absolutely not true. There are good and legit ones out there you just must take the time to find them. They are a business out to make money period. so do the banks and so forth. Why have a business you dont make money at? there would be no point.

I dont mind paying someone for a service that they provide as long as thier fees are resonable and they do what they say. There is no shame in reaching out for help if you need it. But i dont feel that this particular company would be right for me personally. I would not be willing to put my finances in a 50/50% chance.

__________________
my blog about saving money during a recession, And my personal story about Provanta's debt settlement program and how it worked for my family

WOW...that was VERY long but so true. Good job there.

Found this on the BBB:

The BBB is experiencing a high volume of calls and inquiries for this company. Inquirer's are asking the BBB to "define the method of Novation, used as a process of debt relief services." "Novation", the method used by this company is unknown to the Better Business Bureau. We have sought information from a number of different independent sources and have been unable, to fully understand the service as offered, at this time. In our efforts to assist both the company and consumers, we are including in this report information which was voluntarily provided to us by the company on January the 26th 2009. The information describes the process in it's "New Client Agreement", included below.

Section titled: "Rights and Responsibilities of Consultant" Consultant agrees to utilize his best efforts to undertake a process known as "Novation" on certain contractual obligations of the Client. This process is considered controversial and uncertain in many regards, and there can be absolutely no guarantees of a successful outcome. It is understood the purpose of this novation is to transfer responsibility for debts to CMS and to reduce the clients debt as much as possible without bankruptcy proceedings. It is understood that this process does not eliminate legal liability on the debt on the part of the debtor, but adds CMS as a party in interest to these claims as a matter of convenience so that CMS may undertake services on the client's behalf., and to establish potential defenses and challenges to credit card collection action.
It is further acknowledged by the client that no representations or warranties are made concerning the effect this process will have on the clients credit score, and that the credit score is likely to deteriorate from this process.

OK

1. "Novation", the method used by this company is unknown to the Better Business Bureau. We have sought information from a number of different independent sources and have been unable, to fully understand the service as offered, at this time.

That's because it's crap and pure theory mumbo jumbo.

2. This process is considered controversial and uncertain in many regards, and there can be absolutely no guarantees of a successful outcome.

Then if it fails do I get my money back?....NO Why would I use you if there are no guarantees of a successful outcome? That would be stupid on my part.

3. It is understood that this process does not eliminate legal liability on the debt on the part of the debtor.

I thought transferring the debt to you means it's yours now, not mine? They are telling you up front that their process is BOGUS.

4. It is further acknowledged by the client that no representations or warranties are made concerning the effect this process will have on the clients credit score, and that the credit score is likely to deteriorate from this process.

Ummmmm....What? What are you talking about? Why would my score go down? Why would I be sued? I transferred responsibility of the debt to you remember? (But they told you legally this can't happen) They will come after you, not me......right? WRONG They are double talking here. Telling you one thing and writing in fine print another.

You are PAYING them to tell you STRAIGHT OUT that they CAN'T DO what they say they DO along with NO guarantee. In one little paragraph they say that. Anyone seeing that.

I would like everyone that reads this post to take note and extreme care when reading CMS bashing posts. Whomever posted the above thread from Babyblue06 is a fraud. I know because I am the real Babyblue06. See here's the deal. Back in December I registered with scam.com with this username and ever since I and many other CMS clients have been battling back and forth with nay-sayers about the truth of the program. I know it works because I have been through the program. This exact post was written by Ponderer just a few weeks back (check it out at http://www.scam.com/showthread.php?t=43774&page=15) Just copy and paste the address into your browser, it is post #709. Someone thought it would be cute and try to put my name on it. Just for the record, I think it is a dumb post with no real evidence used to scare potential clients away from CMS where they would be forced to give in to the credit collectors that keep posting the BS (like above). If you are interested in CMS and want to talk to someone who has been through the program go to scam.com and send me a PM. I will answer as soon as possible. Until then, be cautious of what you believe due to reading on the internet. I know the best way for me to get to the bottom of things, was to talk (literally person to person over the phone or face to face) to people that have been through whatever you are researching about. CMS is real and Brad Daley is real.

And SOMEHOW you got wind of someone stealing your name from a COMPLETELY DIFFERENT site and posting in THIS forum with it? So you decide to register with this site and post a comment when you could have easily posted as a guest. Also using the SAME tactics as the scam artists by saying they are rivals of CMS? Hmmmmmmm.............

What a BIG coincidence there. Wouldn't everyone agree?

I tell ya........it's amazing. LOL

No....I am the real Babyblue06!

LOL

Such BS from CMS is hilarious

Yup...a real crook!

you are all wrong. I AM THE REAL Babyblue06!!!!!!!!

LOL.....No NASCAR Devil................I am.

LOL. I'm really laughing out loud. Too funny.

I needed that laugh today. Thanks for that bro....LOL.

Paul you're crazy....LOL.

You guys are killing me with this.....LOL

Thanks to the both of you.....LOL. I'm tearing hear from laughter....LOL.

If you do not believe it check out the provided address. At least do this before you make a larger a$$ of yourselves. Read the threads and you will understand.

i am Babyblue06.HERE ME ROAR!!!!!!!!!!!!!!!!!!!!

I understand BS when I see it

Let me know what you think about these comments?

Pure utter BS...that's why I deleted them

Aw man what did econobiker say?...LOL.

Ya know it's so funny that people are crushing these debt settlement companies on this site but they always single me out...LOL.

Brad is about as honest as you can get. I already had 2 lawsuits with credit card companies and he told me how to beat them. I did do that exactly. I called him to tell him of my victory and asked how much I owed him. He told me that he was once on the dark side and has moved the the right side and I owed him nothing but a thank you. So all of you talking crap on this guy are full of you know what!

Tom321:
I guess what I posted was not in the party line or something?


I am trying to figure out how the process works and if it is legal. Novation, accord and satisfaction, etc. I thought I asked pertainant and reasonable questions about this subject.

Why were my comments deleted?

Thank you for your reply.