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Debtconsolidationcare.com - the USA consumer forum

DIY success so far

Date: Mon, 11/23/2009 - 06:01

Submitted by rutledges_2001
on Mon, 11/23/2009 - 06:01

Posts: 64 Credits: [Donate]

Total Replies: 9


Chase 25%
Us Bank 18%
Juniper Biz 20%

That is 26700 total debt for about 5685

This is in the last thiry days


Congrats! doesn't it feel good? I settled 2 recently and am in negotiation for Citibank. My outlook on things has changed drastically after coming to this board..... I am actually joyful this christmas season. Settled all my payday loans and 2 credit cards.

Thank you, thank you, to everyone who has helped me. God bless!!


lrhall41

Submitted by aubrey on Mon, 11/23/2009 - 07:56

( Posts: 1203 | Credits: )


well first off, others peoples rates are not going up because of the settlement process, and second of all the congrads are that they negotiated a good deal. meaning that the credit card companies are in complete agreement with it. chances are they have paid thier origional balance and also allowed the creditors to collect a little on top of that or they would not negotiate at all. its how it works.


lrhall41

Submitted by love_my_things on Mon, 11/23/2009 - 12:38

( Posts: 1434 | Credits: )


Annemarie, the congrats are because some of us have been able to get out from under our debt because of high interest rates, fees, etc. Ever hear of "universal default"? That means if for some reason, even having a dispute with a credit card company, you are late on ONE account, they all can change your interest rate. I used to have a low rate with Citibank and BofA. I had a dispute with another credit card with their fee. Low and behold, Citibank raised my rate from 4.5% to 19.99% and BoA raised it to 24.99!! Guess what that does to a minimum payment?? I contracted with the creditor for a certain percentage rate (one that I could afford).

Then there's the trick of lowering your credit limit but not telling you. Say you HAD a credit limit of $5,000 and you have a balance of $3,500. They decide to lower your credit line to $3,000. Now you're over your credit limit and they smack you with a charge which in turn affects your credit report. and then you have to remit the amount over the credit limit plus the fee BY the next due date, or you're socked another over-the-limit fee, and so on.

These are only 2 of the things the credit card companies have done to their customers to feed their greed. Granted we all charged items, but if the credit card companies had stuck to the original terms, it wouldn't have become a hardship for many of us. Some people default because they lose jobs, illness, etc.

Now the companies are cutting people's credit limits and raising rates before the new law goes into effect in February that addresses these abuses. If the credit card companies hadn't been abusing their customers, this law would not be necessary.

My credit card companies have been paid back long ago for the items I purchased. They've made TONS of money from me with their interest and fees.

Bleed not for the credit card companies, as they will figure out a way to suck us dry.


lrhall41

Submitted by aubrey on Tue, 11/24/2009 - 07:44

( Posts: 1203 | Credits: )


Thanks Aubry, I came here to find ways to pay my pdls. I am a bit shocked because almost every post I read is in some way telling people not to pay. I am from the school, that if a debt is mine I pay it. I don't need to validate if I know I OWE THE MONEY. I know that the pdls rip you off, but we all knew it when we got the loans. Why apply for a loan and then cry illegal,


lrhall41

Submitted by on Tue, 11/24/2009 - 07:52

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