Bill Consolidation

Date: Tue, 08/07/2007 - 13:22

Submitted by anonymous
on Tue, 08/07/2007 - 13:22

Posts: 202330 Credits: [Donate]

Total Replies: 1

I am currently with debt relief and I don' feel they are doing anything to help me. I was doing fine paying my bills on time but thought this was a better option. I am currently going through a divorce so I guess in my moment of need I got talked into this. All they are doing currently is taking money from me but none of the bills are getting paid and I get all the calls and threatening letters. What can I do? I would like to just consolidate my bills, 3 credit cards which total about $40,000 probably a little less and get the creditors off my back and get back to my normal routine. Now my credit is being affected and I don't want this to happen.

The most important thing to ask here is how long have you been e

The most important thing to ask here is how long have you been enrolled in the program? Your accounts will not be current since you have enrolled in a debt settlement plan. In a consolidation plan, the payments are made towards the accounts each month, but you are required to pay the principal amount in full. Negotiations are done on the interest rates and the added fees on the account.

Do you have the contract copy from the settlement company? The accounts are required to be in default for certain months in the settlement program. You have to make your monthly payments along with the fees in the escrow account opened by your settlement company. Once they have the sufficient amount which they can propose to your creditors to settle the account, they will put the payment proposals. Until that time, you can always call your settlement company and know about the latest actions.

lrhall41

Submitted by Flying Cats on Tue, 08/07/2007 - 14:11

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