Has anyone dealt with coastal credit solutions?

Just wanted to bump my thread in case anyone missed it.

I see they are not a part of TASC and therefore ask then:
1. How much are there fees?
2. How do they collect there fees?
3. Ask them what are the worse things that could happen to you?...the way they answer that question will tell you a lot about them? Liens, garnishments, or seizing your accounts may apply to you but see if he tries to sell you on this or if he is letting you know what could happen.

Also ask him how long does it typically take before they will first see a settlement?

Does anyone else have anything for me to ask them? Thanks for the help thus far.

On the fees, I think they said 15% of outstanding balance but I will call back just to verify. Is 15% considered high or low? What is the norm? Thanks all for your help.

15% is about average. Typically settlement companies will charge anywhere from 15%-17%. FYI if you do your research there are at least 2 companies which are a part of TASC and don't have any complaints with the BBB and they only charge 14%. I think their reports said they have been open for over 6 years now.

But back to your question on questions.
Ask them if they can guarantee to settle on your accounts...if they say yes that is a red flag because there is always a chance your creditors can seek legal action.

Ask them if there are any tax consequences...there might be if you have more assets than debts, but then again I don't know your situation so I am not going to tell you yes or no).

Ask them what they do if the creditor should pursue legal action?

Ask them if they settle on judgments, should a creditor pursue legal action...they should be able to settle on it but the settlement they get you on a judgment might be more than there average settlement and I would think they would have you sign something saying you are aware of that and therefore they are protected from you coming back and complaining about that if that should happen.

Ask them if creditors will be calling you and for how long...which of course creditors will call you for the first 2-3 months. After that the call should die down...but then ask them what you should do when they call...I have heard sales reps say change your phone number and send them a letter with an address change so they can't get a hold of you which is stupid because you want to let the creditor know that you are in a financial hardship and trying to avoid bankruptcy but that you don't have a payment for them and that you have signed up with (whatever company) give them (whatever companies) phone number. After you do that you will also want to send certified letters to each one of your creditors letting them know the same information (I wouldn't just call them but send a certified letter for your records). After you do that then screen any calls after that first call where you explained to them the above stuff.

Also ask the company if they send out a limited power of attorney to contact your creditors on your behalf to redirect some of those calls to them.

Ask the settlement company once you have enrolled will you have your own negotiator and customer service team that you will be dealing with throughout the entire process...I would think they should because I know other companies do.

Ask them how long they have been in business? and then check out their BBB report to see if they are telling the truth...I know many sales reps I have spoken to said "I have been doing this for many years" but I didn't ask that question what I asked was how long has the company been in business. "Oh the owner here has been doing this for 10 years"...I didn't ask that (you get my point).

There are many other things to ask but time doesn't permit me because I have to go clean my carpets...all this rain I am tracking in the house. I hope this helped.

Indeed it is a very unfortuate situation when a debt settlement company steals money from those who are in need of financial relief. I am a C.E.O. and owner of an ethical debt settlement company. So here is my advise! When seeking a third party to handle your debts please do the following. 1) Check the number of complaints on the B.B.B. 2) Verify that they are members of the U.S.O.B.A. or T.A.S.C. 3) Check if they are members of the I.A.P.D.A. and 4) Find out if they offer a money back guarantee. Here at Manageable Debt Solutions, Inc. we comply with all of the above. Our money back guarantee ensures that if we don't save you money we don't make any. So please do your research because we are one of the five companies that actually offer such a guarantee out of thousands of debt settlement companies. Also, when checking a B.B.B. rating only pay attention to the number of complaints. The reason for this is because the B.B.B. automaticaly rates all debt settlement companies with low rating due to the practices like those above. The true way to rank a B.B.B. listing is by the number of complaints. Also, debt settlement isn't for everyone so make sure your debt settlement company properly qualifies you. Otherwise, you may be put in a worse position than where you started. With MDS we explain everything simply and upfront. No hidden information or charges. So try us out and give on of our Debt Specialists a call. To get our number just google our name and visit our website. If you'd like feel free to ask for me personaly. If I am available I will be more than glad to assist you with your financial hardship. If not I can assure one of my agents will be more than glad to help you out. I wish you and your family the best of luck with your financial situation and hope you choose the right company. Best regards, Ricky Lopez.

Almost all debt settlement companies are scammers. Just find a bankruptcy attorney and go that route.

Furry,

Debt Settlement is a viable and sensible alternative to bankruptcy that doesn't affect your ability to request credit.

Debt Settlement with Credit Repair Services immediately after will ensure that your credit score normalizes after the process, and it would take anywhere from 2-6 years depending on income.

Bankruptcy ensures you will not have credit for 7 years, and will have difficult time receiving credit for 7 years after. That's 14 years in total.

As for the companies --- some good, some not. Look for some of the above things, and look for a company that is more interested in your settlement than their fees.

I found them rude, abrasive, snide and challenging to deal with - In fact, I have a whole string of emails documenting it and am currently trying to find the managers of the two people who've contacted me because of their rude and offensive nature.

Be careful about the name. Lots of these debt management agencies have similar names. Theirs lots of scams and they usually have names that are very close to legit and well regarded companies. "Costal Debt Solutions" has earned a great review by the BBC and I found them to be extremely polite. However, I've never heard of "Costal Credit Solutions"

Thanks guys, my wife was talking to these ^^^^^ about our debt, and they have the same model as so many others:--we buy your debt for a monthly fee and settle for you, and you pay us back at 80% of your current payments--
After reading here, I managed to warn her off. It's aggravating that she still trusts anybody she finds on the web, but that's what I've got.

Quote:

I worked with Amanda at extension 1313 and she was absolutely fantastic! She was incredibly resourceful and helpful. She helped me consolidate my bills on a credit counseling program NOT settlement and also helped me out with my house as well. I found all of the staff very nice, I would highly recommend them to any friend or family member!

I enrolled recently into their settlement program, in which they do NOT charge any fees upfront, and honor a service guarantee to settle your debts before any fees are collected. They recently settled out a BoA card at 29%, huge savings!! Their customer service at Coastal Credit Solutions was really great when looking into both credit counseling and debt settlement. I would recommend them. Stay away from companies still charging fees up front for settlement- that is a rip off, but luckily I found Coastal Credit.

T was quoted a 21% fee at settlement but payments go into ab account and settlement gets paid from that they said

Do your settlements yourself and save that 21% fee.

without DS assistance here's the TERRIBLE things you can look forward to:
doing you settlements yourself and paying A LOT more yourself (70-80% settlements)
Struggle with pushy collections agency reps, harassing phone calls, and the worst possible foot note on your CR possible.
Lawsuits... wouldn't you rather have a company helping avoiding lawsuits, rather than finding one after the fact.

Trust me, I have a full time job and the last second job I want to ever do again is trying to settle on my own... the results I've seen thus far with them (settling over 15k of my debt and savings me THOUSANDS) is something I'd much rather pay (a minimal fee compared to most) especially with a service guarantee! :D

lastly, my mom signed up on Credit Counseling with them which has been a tremendous success in improving her credit score- with very minimal fees and a great credit coach to help her grow financially stable !

Is it normal to give a Debt Settlement Company a limited power
of Attorny ?

Debt relief Agency wont me to give them limited Power of Attorney.
Is that legal?

talk to Cory she is a sweet [EMAIL="heart@costal"]heart@costal[/EMAIL] credit. She was very kind and understanding.Because of her things seem so much better for me now. thanks Monica:D

bankruptcy does not do the damage that LAZ has stated, it wont be 14 years before you can get credit or even 7 years. Most places that extend credit for bad credit will work with you as long as the bankruptcy is discharged. If you decide to go that route.
I have found that debt mang. companies dont work very hard on your behalf. They do ask your creditors to settle or except their monthly payment amount. But there is little follow up if the offers are not excepted.(this statement includes CAREONE). So you make the monthly payment and your creditors dont have to except them, your think everything is fine. Until you check your balances or credit report and find nothing has changed or God forbid its gets worse.:-x