National debt relief program - Is it a scam?

Seriously! · Sub: #81 Replied on 07-29-2010, 08:07 PM

What happened to the idea of being responsible for your action? Everyone is looking for a quick fix and not taking responsibility. Sickening! I have a ton of debt! I'm not proud of it, but I've rearranged my finances and I'm making my payments. I'm not looking for someone else to foot the bill. Come on people!

Unbelievable! · Sub: #82 Replied on 07-29-2010, 08:17 PM

What ever happened to being responsible for your actions? It's your debt, you should pay it off! That's what I'm doing.

Reality · Sub: #83 Replied on 08-02-2010, 03:57 PM

Seriously and Unbelievable.
I don't really think that is the message on this board. If you think for a second that the Banks and Credit Card companies aren't taking advantage of the consumers then you need to think again. I have seen these companies double and triple interest rates as well as raise the minimum payment to the size of a mortgage payment - for ABSOLUTELY NO REASON! In this situation the credit card company caused the financial hardship. I think it is pretty sad that one has to use a debt relief company or a debt management company because the bank or credit card company would not work with them. There are many responsible people that have unexpected things that come up - medical situations, job loss etc. Sometimes it is poor choices and falling into their trap - however, it still does not give banks and credit card companies the right to take advantage of the consumer the way they do.

R W L · Sub: #84 Replied on 08-24-2010, 10:46 AM

Is "National Debt Relief Agency" accountable to the Federal Government for their offers and are they a Scam? Is the "Credit Card Accountability, Responsiblity and Disclousre Act of 2009", a program to eliminate the Interest Rate and make monthly payments on the Principal Amount of Credit Cards?

Unregistered · Sub: #85 Replied on 08-26-2010, 06:04 PM

Quote:

Originally Posted by Anonymous

I just wanted to say that I received a letter regarding national debt relief program as well. I am already with a company - CareOne Credit Counseling AKA CareOne Services. They have an A rating with the BBB and they do distribute payments monthly to your creditors. I know this because there are times that I have had to change the dates and I have had creditors call to confirm that I'm making a payment...other than those instances - creditors don't call me. They submit offers on your behalf and I did have a few creditors want more...but I'm still paying less overall through them than I was on my own and again, no calls from creditors anymore. You do pay a monthly fee to the company...in my experience, their customer service is impeccable.

I have the same experience as mentioned above with Consolidated Credit Agency.

precise212 · Sub: #86 Replied on 08-26-2010, 08:31 PM

Quote:

Originally Posted by Anonymous

Well, it's a scam, sort of.
I talked with them a couple of times, asking a lot of questions.
The bottom line is that they'll work our a payment arrangement with you whereby you pay NDR monthly while paying your creditors nothing, over the course of 3 years (their most popular program). Supposedly your own debt will get degraded by as much as 45 to 65 percent, something that sounds pretty good to us honest people.
Problem is that NDR will not provide you with a written agreement between you, NDR, *AND* your creditors which really means that you're HOPING those 3 years will not turn traumatic for you, with bankruptcy, lawsuits against you, potential judgments, etc. The risk is 100% yours alone and you'll have nothing in writing to back up up should you end up being sued by creditors during that 3 year period.
In my opinion, signing up with NDR would be completely idiotic. Primarily because you're just as much at risk of losing everything as before since there's no guarantee of any type, and secondly because the efforts between you and NDR regarding your creditors are in reality based on nothing more than hope. The lady on the telephone was quite obviously with NDR fo some time, new how to answer everything, and knew how to shy away from the tough questions while still having an answer available for questions that she didn't (wasn't supposed to?) answer in detail. Besides, you'll never even know for sure if the agreement between you and NDR was successful until the 3 years is up. Do you really think your creditors will wait for 3 years and do nothing .... ???

Bravo! Someone FINALLY had read a Client Agreement! Just because you are working with the debt-settlement company, you are not protected from the ugly lawsuits! Your only hope if you file an answer with court clerk ASAP and save as much $$ for the settlement if you can...

Unregistered · Sub: #87 Replied on 09-07-2010, 12:51 PM

Quote:

Originally Posted by Anonymous

Remember, if you settle for over $600 in most states, you will be taxed on whatever portion you have been forgiven as if it were net income - you get a 1099 form. And the credit bureau report will show "Settled for Less Than Full Amount," and will remain that way and continue to affect your credit score until you pay the remainder. And they say it 'falls off' in 7 years, but when I applied for a home loan, they asked me about a credit card that was "Canceled by Issuer" (bad) over12 years prior (which I explained was because I only used it twice but liked my other card better so it closed due to no activity) - So just a caution, they can SEE a lot further back, it just no longer affects your credit score.

By LAW (Fair Credit Reporting Act) it should be removed after 7 years, but agencies favor their customers (the creditors), you must check your credit record periodically and pressure them to remove out of date and incorrect information. While they're supposed to do it automatically (and some will), the squeaky wheel gets the grease.

Unregistered · Sub: #88 Replied on 09-07-2010, 01:16 PM

Quote:

Originally Posted by Anonymous

I agree! The middle class will soon be a thing of the past (unless we can outlast the obama administration)!! Come on 1/20/2012!!!!

I believe you are shy by one year... we VOTE in 2012 for the next President, that takes place the next January, so 2013.

Thomas12 · Sub: #89 **National Debt Relief Stimulus Plan** Replied on 09-07-2010, 01:45 PM

Thanks for the heads up on the 1101 Pennsylvania Ave NW 6th floor. I just received one of these notices in the mail today. Like the old saying goes if it looks to good to be true it probably is. Glad I had the common sense to research on the computer before calling. The goverment can bail out business but with all the credit card changes it has made my payments go up and now I am struggling. It also reduce my credit score by lowering my limit even tho I had always paid on time and more than minimum. Now with all the changes it has increase my interest rate, lower my limits, shot my credit score all to heck and raised my payments. Where is out relief? I was doing fine until the goverment got involved.

Unregistered · Sub: #90 Replied on 09-16-2010, 10:25 AM

Quote:

Originally Posted by mistyblue901

I am currently in Chapter 13 and I am having a difficult time paying on the monthly plan, a payment plan that I could not afford in the beginning but trusted my Attorney who informed me that I can modify it. Unfortunately the Judge rejected it and now I am expected to pay that amount. How did it end up being so high, mean test, I was informed. Well, I am at the risk of it being dismiss because I am only sending in the money I can afford. I received a letter in the mail from National Debt Relief (Settlement Company) claiming they can reduced my payment down to what I can afford. They claim they are a governmental agency and advise me to stop sending money to the Trustee and enroll into their program. Have anyone heard of National Debt Relief Plan?

National Debt Relief Program is trying to make it sound like they are a government-backed program and they are not!!! Don't be fooled. Try this company I trust and use...Total Debt Solutions...email this guy Jed Steward [jsteward@totaldebtservices.com] and ask him about the details of really truly getting your stuff paid off. By the way, sue your attorney for malpractice! You got robbed being told to go Chapter 13 if you couldn't afford to make the payment! The whole point is to restructure so you CAN make the payments. Good luck! Mary Avila

Unregistered · Sub: #91 Replied on 01-03-2011, 07:11 AM

no it is not

unregistered · Sub: #92 Replied on 05-08-2011, 04:53 AM

National Debt Relief Stimulus Plan is a scam !!!!
Thank Goodness I became aware of it after being in the so called "plan" before they
got any more of my money.
Any time I had any questions it was very difficult to reach someone with answers.
{So many phone numbers,just to make the situation more confusing.}
I was told not to speak to any Credit Card Reps ....so phone calls from them went
on day and night...my credit score took a big hit.
National Debt got my money for at least 3 months....got their monthly fee,and was
told that they would not contact creditors for several more months !
All the paper work they send and E Mail messages are part of the scam to make
it look good.
It became so confusing and unnerving that I knew I had to pull out of this "Scam."
I lost money,but at least I woke up before I lost any more.
It was a hard lesson learned.
I hope no one else becomes involved in this situation

unregistered · Sub: #93 Replied on 05-08-2011, 04:54 AM

National Debt Relief Stimulus Plan is a scam !!!!
Thank Goodness I became aware of it after being in the so called "plan" before they
got any more of my money.
Any time I had any questions it was very difficult to reach someone with answers.
{So many phone numbers,just to make the situation more confusing.}
I was told not to speak to any Credit Card Reps ....so phone calls from them went
on day and night...my credit score took a big hit.
National Debt got my money for at least 3 months....got their monthly fee,and was
told that they would not contact creditors for several more months !
All the paper work they send and E Mail messages are part of the scam to make
it look good.
It became so confusing and unnerving that I knew I had to pull out of this "Scam."
I lost money,but at least I woke up before I lost any more.
It was a hard lesson learned.
I hope no one else becomes involved in this situation

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