|
#1
03-02-2009, 12:19 PM
|
|||
|
|||
National debt relief program - Is it worth enrolling?
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 them?
__________________
Pardon me while I express myself. Where is OUR bailout? The Govt. is paying companies with taxpayers money to help keep them afloat. We, the people, ask for an affordable plan for us to repay our debts without the high interest rates and fees. But no-one wants to help, they just want to take more. So again, I asked where is our bailout? 
|
|
#3
03-02-2009, 10:10 PM
|
|||
|
|||
|
national debt relief plan
National debt Relief has got a F rating from BBB. So, check its credentials. You may follow the points mentioned in the following page: -
Points that can be followed for selecting a good debt settlement company
|
|
#4
03-03-2009, 10:31 AM
|
|||
|
|||
|
national debt relief plan
Governmental Agency my butt, thanks for the warning!
__________________
Pardon me while I express myself. Where is OUR bailout? The Govt. is paying companies with taxpayers money to help keep them afloat. We, the people, ask for an affordable plan for us to repay our debts without the high interest rates and fees. But no-one wants to help, they just want to take more. So again, I asked where is our bailout?
|
|
#6
05-11-2009, 09:06 AM
|
|||
|
|||
|
Federal Debt relief for Background checks for government job
Mr. President need to give a relief for everyone. We American people need jobs. All of the Gov't and private contractors are asking for background checks and if you owe debts, no jobs, no job will be awarded they tell you no. This need to be address . Protest people for more help.
|
|
#7
06-29-2009, 11:25 AM
|
|||
|
|||
|
national debt relief plan
I got this letter too. These are ‘debt consolidation’ companies. They tell you to stop paying your credit card debt and they will ‘handle’ your account for you. Don’t be stupid. I was… I hired My Credit Solutions and they sent a letter to both of my credit card companies saying they were hired by me to handle my debt. Which in ‘plain English” means they tell your creditors to get off your back for a few years while you save up a negotiated ‘portion’ of the money you owe. You pay them a monthly fee and when you have ALL the money, they pay off your credit card debt. They charge a small fee for themselves (of course)
What they don’t tell you is they aren’t paying any of your debt until you have the grand total in your bank account. That means your credit card companies aren’t getting ANY money until 4-5 years. Keep in mind they don’t HAVE to deal with whatever debt consolidation company you hire. They run credit checks on you every week, which knocks your credit score out of the ballpark. (I went from a 790 credit score to a 540 in 6 months) If they see you have any assets, or that you are paying your mortgage on time, they can and will sue you. (if they see you have any money, they will not let you slide) 5 months after I hired My Credit Solutions I was served a summons that one of my credit cards is suing me. (they saw I paid off my car and was paying my mortgage on time). I had to fire My Credit Solutions, deal with the collection agencies and work out a plan with them. So in a nutshell, call your credit card companies and handle it yourself. You can usually get the same rates as debt consolidation companies. One tidbit I learned the hard way is… my bank of America credit card balance was $19,000. BOA offered me a settlement of 11,000, but I had to pay it in 4 equal payments. I knew I could not afford that, with their 28% interest rate, so my account went to collections. When you make payments to the collection agencies (not the credit card companies directly) the interest rate is about 8% (depending on your state). Had I known that, I would have let it go to collections long before that to get the lower interest rate so I could put a faster dent in my debt. So when your credit cards do go to collections, don’t blow off their calls like I did. (they can be extremely rude). They are willing to work with you and your debt problem will get handled. As for the letter you got in the mail, toss it. Those companies provide a service you can do for yourself.
|
|
#8
07-13-2009, 05:37 PM
|
|||
|
|||
|
national debt relief plan
I just wanted to say that I received a letter from the 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.
|
|
#10
08-03-2009, 09:59 AM
|
|||
|
|||
|
If you have no assests, there isn't a lot that credit card companies can do to collect. In some states they can garnish your paycheck, but only for a small amount. And if there is no activity for 7 years, (no payments by you and no lawsuit by them) the debt does just "go away". If you are married, put all assets in your spouse's name. And when the collection agencies call, just tell them that you are recording the conversation. Then tell them to stop calling. By law they must.
|
|
#11
09-08-2009, 02:07 PM
|
|||
|
|||
|
Regarding Post #7 above. You say that the collections agencies charge less interest than the credit card companies involved. I had always heard that once an account goes to collections, your credit rating pumults, and there is no need to even settle with the collection agency, as they have bought the account from the creditor, pennies on the dollar, hoping to intimidate you to pay your debt in full, thus making a profit. Guess my question is.....does the collection agency turn in favorable reports to the credit bureaus on your behalf, if you settle with them, and does making the payments help your score ?
|
|
#12
09-17-2009, 05:59 PM
|
|||
|
|||
There are two kinds of collection agencies. The first one is legitimate and represent the creditor. If they collect, then the amount is forwarded to the creditor but creditor pauys fee. The second is to buy junk credits. If junk credts people contact you, demand a legal proof, by which the collection must prove that they are the legitimate creditor.
|
|
#13
09-20-2009, 10:23 AM
|
|||
|
|||
|
Guest
Quote:
I should have filed Chapter 13...it would have been the same result. or...contacted legitimate Credit Counselors that are rated with BBB.
|
|
#15
09-21-2009, 09:58 AM
|
|||
|
|||
|
Keep in mind that settlement with a third party collection agency is typically cheaper than the original creditor or creditor representative. Because they purchase the debt for pennies on the dollar, they are willing to settle for much less than the original creditor. The original creditor is trying to mitigate it's loss while the collection agency is trying to turn a quick profit.
|
|
#16
09-22-2009, 12:48 PM
|
|||
|
|||
|
I worked with XXXXXXXXXXXXXX, they are located in San Diego, California and they offer the debt settlement plan. From my experience, they helped me a lot. They explained about potential lawsuits, and the incredible rate they have, check out this examples: XXXXXXXXXXXXXXXXXXXXXXXXXXX They also told me on how te accured interest would increase my debt over the time due to non payment and how they quote clients at 50% instead of 40% like all the other comapnies do. The best of all is that they charged me 10% of fees instead of the 15% like the other companies do. They reached my first settlement on the 7th or 8th month, dont recall exactly. I am comparing all these factors, because my father in Law used another company, Debt free America or something like that, and he had a lot of problems. Check out their website they are good: XXXXXXXXXXXXXXXX
I personally saved around 22K i owed like 50K or so. The most important thing to me was the TIME, I was free of debt in only 28 months. Their phone number is: 1-XXX-XXX-XXXX Please tell them that XXXXXXXXXXX told you about them. solicitations removed --- mobile0311 Last edited by mobile0311; 09-28-2009 at 02:33 PM.
|
Linear Mode
