desperate for some good advice :)
Date: Thu, 02/01/2007 - 13:46
I'm a 25 year old, working professional, living in PA while working in NJ. Last year, over the holidays, I (stupidly) applied for a few store credit cards, which turned into a few more, etc, etc... I was strapped for cash, just getting out of a bad situation with my live in boyfriend and thought that I'd eventually pay things off later, and felt the weight of the holidays on my shoulders. Between moving out, starting life over in a new town, moving three times (into my mothers house, into a new apartment, into another new apartment), new car payments, best friend's (very) expensive wedding, I accumulated around 12k in credit card debt.
It got to the point that the bills were piling up and I could only afford to pay a couple of them (12 cards in total) each month while affording my rent, car + utilities. I was forced to move out of my apartment due to flooding, with no renters insurance and damaged property had to purchase some new (used) furnature and quickly find another spot to live which was even more expensive. I have been unable to pay any of the credit cards for about 5-6 months now and have creditors hounding me like crazy. My phone rings off the hook, and i am sick to my stomach knowing that i can barely afford my rent each month.
I came here, to this website, entered my info, and was contacted by credit counseling of America, who I originally thought was a God send, however the creditors still called. I eventually called CCCoA, who then informed me that my account was now owned by.....
Richard Brennan and Associates.
I've read a few horrible posts about this man and his company and am now terrified as to what I've done with my situation. I called them and spoke with a woman (celine? celeste?) who went over all of the accounts that i had submitted to them for help, they were missing 2 of them - mind you I diligently filled out the paperwork that they requested with all of the info about my debts and know that these were on there. She also informed me that my payments would go up as a result of that. I told them that i was still being sought after by creditors and the woman said to me that only one of my account "proposals" had been accepted so far, so that I should still expect this. She also told me that "the first 3 months are always the hardest" while they were still submitting the proposals to the creditors, etc.
Anyway, after reading all about this company, I am totally upset and worried about what is going to happen with these accounts. I have not been paying them because i thought that richard a. brennan was taking care of it and now am afraid that they are getting worse and worse.
A friend just referred me to another company who she used and said was very reputible, and I desperately want to switch over to them. I called them and they said that it may be difficult if these Richard Brennan people were already negotiating with my accounts.
Please can someone please advise me as to what to do! I do not want this mess to get any worse, I've already given $648 to this current company (R.A.B.)and I am terrified as to what else will happen if i let this go any further. I am afraid that they will keep messing up as they have done to so many others.
Also, can anyone please refer me to another credit counseling agency who may be able to help? The company that I reached out to is Consolodated Credit. consolidatedcredit.org/
Can anyone else verify that they are reputable?
Thank you so much for your support. Just being able to write all of this out and put it out there for you all to see eases my mind a bit. I feel like this hole of debt is this huge looming secret that I can't dig my way out of. So thank you for reading and I wish you all luck on your path to being debt free! :)
Liza
Welcome to the forums,Liza! Don't worry about its length, ya don
Welcome to the forums,Liza! Don't worry about its length, ya done fine. Everyone will probably start answering soon as they can, too
Cancel the contract signed with RAB as you're not having the eas
Cancel the contract signed with RAB as you're not having the ease of mind working with them. Keep in mind, debt settlement program will not give magical results right from the day you enroll with any company. Your account will be left defaulted for at least five to six months and you will be asked to put money in the new account opened with the settlement company. Then, they will call your creditors to explain that you cannot afford the payments and want to settle the debts. Creditors may not accept the proposals in the very first call. Renegotiations are to be done so that your proposals get accepted and no actions are taken against you. If you can arrange the same thing with your creditors, you won't need to look for any outside help. Creditors want their money back. It hardly matters if you or anyone else contacts on your behalf. It is your choice to decide with any company but at the same time, call your creditors and put your payment proposals. You may be able to arrange everything that suits to your situation.
thank you for your quick responses! i believe there is a fee
thank you for your quick responses!
i believe there is a fee associated in cancelling my contract, of which i can't afford... i read on another post that it was someone's advice to have my bank block the debits out of my account.
do you think this will negatively affect me? is richard brennan going to come after me with fees if i start blocking his debits and drop the account?
Take the help of DIY section in this site. It has all the info t
Take the help of DIY section in this site. It has all the info that you need for self negotiations with the creditors/collectors. Richard Brennan should be able to refund your money if you decide to cancel the contract. If they say that the negotiations have already started and they cannot refund you money at this stage, ask for the actions taken so far and the possible results. You don't want creditors calling you repeatedly after enrolling with a settlement company. Any settlement company is answerable to all your questions in mind and give reassurance once you have hired for their services.
I see you mentioned you lived at your mothers house for a while
I see you mentioned you lived at your mothers house for a while . . . . Is it possible to move back in with her and pay a larger chunk of your bills for a short time? I know the idea of it may suck, but it's a good way to save some money . . . .
As far as the debt settlement company goes, I don't have any experience with them, but if you don't feel comfortable I'd switch . . . . Switching now is better then in 6 months . . . . Or try to do things yourself. But that takes a lot of time, patience, and energy.
