What have I gotten into?

Hi Guest. Have you contacts SDS and told them about the harrassing phone calls? If I'm not mistaken, I think you are supposed to inform them of the calls or either direct the creditors to them. Did you check to see of SDS has a good report from the BBB? I also thought that the CC co. had to accept the repayment/debt settlement before you started to make payments, but I may be wrong about that.

I have informed teh CC companies to contact SDS, but that won't stop them from calling me.

I have no idea what company is using the skiptrace to locate me. They won't give you info on the phone, they just want your physical address.

And the payments are to SDS...once they accumulate enough that's when they contact the CC companies with a settlement offer. That could take a while.

They have a good report with the BBB>

I'm just wondering if I took the wrong path, and if I should contact the CC company directly, and see if they can work with me on a repayment option, instead of using SDS as a mediator.

Personally....and this is just my opinion, I prefer the idea of debt management to the settlement thing. Also if you work directly with the cc some of them have hardship clauses and can help you lower the payments. I would read up on all options before deciding.

I agree with you Morning!

Would the CC be sympathetic if you explain that you were in a debt settlement program & are trying to get out and maybe join a debt management program (or offer to work out on your own)? I'm new to all this & everytime I call the creditors I"m ready to cry.

I did it! I called the credit card companies this morning and sucked it up. Both Chase and Discover wanted to work with me, and set me up on a payment plan according to what I could afford. they lowered my interest rates on both to .9 percent, and I will accrue no fees or interest outside of that amount.

I'm so happy. I finally feel like the weight has been lifted.

So I guess teh moral is, call the CC company and tell them what's going on. It's better than putting it off or letting it go. They're not as bad as we think they are :)

Good for you!!! When you called to talk to Chase & Discover, were you behind at all & were the accounts closed or open?

Even though I'm in a debt consolidation program I'm always looking at all my options...sometimes I think consolidation is best, sometimes I want to trash that plan & just deal with creditors.

So glad you feel better!

One was 47 days behind, and the other was 80 days behind. They were so helpful and nice to me. It's nice to know that the companies aren't as harsh as the media and others make them out to be.

Glad to hear it. Sometimes when we call we get meanines-but that happens wherever you call. I read (don't know if it was here or elsewhere) if they don't want to help you, call back later & get another rep. Sooner or later someone will relent & help you out.

I think with the subprime mortgage crisis that these credit card co's are more willing to help people out now :) . I think that lawn is right, you will eventually end up with someone that is more than willing to help you out and not all of the cc co's are bad.

We only hear about all of the bad ones and hardly ever hear about the good ones, which they are out there.

ladybug

I agree Lady...if they ever want to see their money again, they have to work with people! You can't just sue everyone because that gets expensive for you!