Debt reduction plan

Hi!
Welcome to the Forums!

If you have not been able to get any information about these companies, then it is better to not work with them. It is best to repay your debts on your own. You can get some useful information from the below given url:

http://www.debtconsolidationcare.com/debt-reduction.html

Found Nationwide Monitors website. What a scam they are running....all they do is refer you to low/no interest cards to transfer your debt. What they dont tell you is if you are maxed or your credit is damaged, you are not going to qualify.



It says you can get your fee back within 30 days no questions asked.
Quote:

I received help from Innovative and was reffered over to them from nationwide. They did that after I was denied for a line of credit after the 5th attempt in 6 months. I did not want my money back I wanted help and found them to be very helpful not only applying for credit, but also teaching me how credit works and how I could benefit from several options. I asked to talk with innovative and they set an appointment for me. After I went through the options I decided to settle my debts because my banks and credit card companies refused to work with me because I am on a fixed income. I wouldnt need help if I wasnt, duh ! I was out of debt in 8 months and my other options would have taken an minimum of 10 yrs. I made a payment that saved me time and money. It was a great decision, and I would encourage anybody to do the same. NCM said they would issue a refund, I chose to remain a member because of the information and help. It was nice to have a company on my side for a change, worth every penny!:D

Blue Collar... how long have you been working with these companies? I ask because I did a "whois" on their website and they didn't reserve the domain name until Jan. 14, 2011, so the timeline worries me. Perhaps they were in biz before they got a website but it makes me nervous.

I'm considering going with them because I'm overwhelmed with debt and am trying to find a way to pay my debts in full but with the interest rates and the cards all being variable I just don't see how I can unless I can get the interest rates lowered and locked in... which is what Nationwide Card Monitor promises, of course.

I've done an extensive search online trying to determine if these guys are for real and there is precious little information about them. I've only found 2 or 3 people who claim to have been helped (and 2 who have been referred on to the debt settlement company you mention). They have an F rating from BBB, but when I looked it up there was 1 positive review and 4 complaints showing (1 complaint only about their advertising and the other 3 saying it didn't work and the people had problem getting their money back BUT listing all 4 complaints as resolved... and defining that as the customers getting what they wanted... a refund one assumes). So the "F" rating seems to be kind of over the top considering everyone got their money back.... so I'm leaning towards giving them a try.

I spent a lot of time talking to the rep on the phone and I liked her (but salespeople...successful ones... are generally quite personable). They claim to work with smaller banks that don't advertise and that only deal with people who have never missed a payment and who have demonstrated that they are good for their debts and can pay them... and the fee they charge is to get access to these banks and help in applying and getting approved. If it's true, the fee would be worthwhile since the interest rates are guaranteed to be 7.9 or lower and FIXED (as opposed to variable). My cards were all fixed when I got them and the credit limits were much higher (so I had a good debt to available credit ratio and a high credit score) and then the economy crashed and all the big banks suddenly slashed credit limits, raised interest rates and switched them to variable. Because my debt ratio then changed, my credit score has eroded to being between 696 and 702 (depending on the bureau)... not horrible but not good enough to get low fixed rates from any banks I know about. I know I carry too much debt and I'm working on it, but I live in mortal fear of the prime rate inching up since that means all my cards will jump up too, so getting back to fixed rate cards is HUGE.

I do admit I'm still scared about wasting $599 to try this, so I kind of feel like a deer in the headlights right now.

If anyone has any better suggestions, i'd love to hear them.

Also, blue collar worker... it's been a few more months since your last post... please post an update on your experience with this company. Can they be trusted? I know you mentioned you had switched over to the debt settlement side of the company (or allied company)... how is that working out?

Also, can you describe what the company did... how they helped you in trying to apply for the new low fixed interest cards? Did it feel like they were really contributing to the process? Were they helpful?

Thank you.:p

Personally I dont believe a word Blue Collar is spouting. I dont see how someone with a "fixed" income can pay off debts in 8 months when other programs told her 10 years....it just doesnt add up.

it's called being a shill/plant for a complete scam.i noticed it right away as you are right soaplady.it didn't add up,but again shills never make sense when you get down to it.

Sounds like a total ripoff to me. Not saying that they might not be able to get you a lower interest rate, but I just read that they charge $599.00 per account - not just a one-time fee. That's ridiculous!!! If you have a $10,000 credit card balance with an interest rate of 18%, and you pay $599.00 (which is rolled over to the new account), your new account balance will be $10,599.00 with a 6% (or so) Interest rate. It might sound good at the moment, but now you're further in debt, and you're borrowing from one creditor to pay another. It just sounds silly to me.

Nationwide Card Monitor is a scam!!!
I have worked for them for quite awhile now and they are a Telemarketing company at best.
If you sign up with them they take $599.00 out of your Credit Card balance, If you can't afford it they will go after your Debit Card or even a personal check!!! After they get your money all they do is send you a form in the mail to fill out your REAL banking info. If you fill it out and send it back they issue you a new card at 7.9% to 14.9% and suspend all the accounts that you included in the form.....
Half the employees of this company are on drugs....even the owner!!!! They hire anyone that can talk on the phone and convince you to give up your personal info over the phone. If you are contacted by "Nationwide Card Monitor" or one of their other names "National Bankcard Monitor" hang up and report the phone call. And lets not forget if you are taken for a ride and want your money back they turn you over to "Innovative Law Center Inc." Innovative Law Center Inc is NOT A LAW FIRM and no way affiliated with anything law abiding in fact are the same employees in the next desk. This company will use the best sales tactics to convince you not to contact your real bank and convince you to just give up on getting your money back......
"NCM" calls folks across the country from 9am to 9pm and generates thousands and thousands of dollars every week. So much in fact that they can play dirty and pick and choose who gets refunds to cover their own [censored] from THE REAL BANKS!!!

I am with a consumer mediation service. People file complaints with us about bogus debt relief companies all day long. These people were complained about last week. They advocate "DON'T DO DEBT SETTLEMENT" but their door says "A Division of Innovative Law Offices" which is a debt settlement attorney model.
Here is the majority of the complaint: This was sent to the FTC, AZ Dep't of Financial Institutions, BBB of Phoenix and the Attorney General just a couple hours ago. We usually give 7 days for the company to receive a response, however, after reading this, you will understand why we went straight to Phase 2.

RE: COMPLAINT AGAINST NATIONWIDE CARD MONITOR
Victim: XXXXXXX XXXXXXXXXX
Age: 57
While understanding the high demand for your attention in other areas, we feel there is an urgent need for your attention on the following company:
Nationwide Card Monitor
500 W. Southern Ave.
Suite 16
Mesa Arizona 85210
nationwidecardmonitor.com
(800) 633-7468
We believe the owner of company to be: James Cox
Consumer Mediation Services is a consumer-centric consulting firm dedicated to helping those who are unable to fight for themselves based on a lack of knowledge and experience of the industry in which Nationwide Card Monitor operates. At Consumer Mediation Services we have experienced and knowledgable management working full time to assist those who have been scammed by companies who misrepresent their services or products. As you are well aware, the debt, tax and mortgage relief industries are plagued with companies misrepresenting their abilities to deliver financial freedom with ease. As you see below, the following situation demands an immediate regulatory inquiry:
Complaint:
???This is XXXXXXX X. XXXXXXXXXX ??? I was at home august 5/2011 Nicklas Bowser call me up he???s with Nationwide card monitor I told him my situation and he told me that he can get me a credit card that i could transfer the balance of the two credit card i had which amount to 7800.00 plus the payment of 549.00 on to that card and make one payment a month with 0% int. or no more 7% so that day i enter the program. They sent some paper to fill out so they could get me the credit card, I filled out the paper and sent them back not knowing that it was a contract, two or three days later maybe more they sent me a credit card with a line of credit of 1,700.00 i sent the card back to them and requested a refund and they told me i have to be denied 3 credit cards before they refund my money all i want now is for them to refund my money.???
CMS additional Notes:
XXXXXXX has not so much as raised his voice about Nationwide Card Monitor, let alone become angry. He is very level headed and understands that he got scammed. I mention this to exemplify he is rational and not overly disgruntled.
To familiarize myself with this company, I called NCM as a secret shopper and spoke with Carolina just a couple days ago (after receiving XXXXXXX???s complaint initially.) I wanted to see what they offered. They offered me a bank transfer to a new credit card, multiple cards if needed, to reduce my interest rates.
The problem I feel is that they did not deliver as represented, as XXXXXXX has nearly $8k in debt and they gave him a new credit card for only $1,700; this does nothing for XXXXXXX other than put him in more debt. Calculate the new credit line and consider the fees, NCM charged a 32.2% Origination fee. CMS questions the legality of this extremely high (and potentially usurious) fee.
We have reviewed all provided paperwork communications between XXXXXXX XXXXXXXXXX and NCM.
While their sales pitch seems organized and the rep I spoke with was friendly, the devil appears to be in the details and I question their true motives to assist people as opposed to getting a quick approval from a partner bank so they can justify a $549 fee; their letter to XXXXXXX states that there are thousands of banks, however just below that it states that there is a money back guarantee if customer is declined by ???all 3 banks.??? This card was approved with FNB Omaha. CMS will be looking into the relationship between FNB Omaha and NCM to determine compliance standards of advanced fee loan brokering between companies. This appears to be a clear case of misrepresentation. Not to mention, XXXXXXX is 57 years old, and the pace of the conversations I have had with him are at a pace that would likely not be found in a fast talking, scripted environment such as what NCM appears to be thus far. I question the manner which he was ???presented??? this offer, as well as the adequate training NCM had of XXXXXXX???s financial situation before determining if this was a service he truly needed.
CMS was informed the initial call was made to XXXXXXX as a cold call. I question whether or not this is a phone room utilizing automated dialers.
We feel it is right for Nationwide Card Monitor to refund XXXXXXX the $549 and close the account which they opened.
After further review, we are unable to locate any documents filed with the State of Arizona for the trade name of ???Nationwide Card Monitor.??? We are also requesting assistance from the appropriate regulating agencies regarding any compliance issues of brokering credit card accounts without verifying identification properly.
This service appears to fall under the definition of an ???Advanced Fee Loan Broker??? therefore CMS will be following up with the State of Arizona Dep???t. Of Financial Institutions as it appears by their contract they are operating as ???advanced fee loan brokers??? however no license is found with the state.
On all available sources to us, we find NCM lists having only 1 employee with an estimated sales revenue of under $40,000. This information seems highly inaccurate based on the multiple complaints with multiple sales agents names listed on the web, as well as the amount of sales this company claims to be doing by this web statement: ???Over the years, National Card Monitor has helped thousands of Consumers to become debt free.??? This company was formed in March, 2010. By ???thousands??? it must be at least two thousand. This would mean they have received at $549 per transaction, $1,098,000 in fees. This should be looked into further by agencies managing payroll taxes and independent contractor guidelines, as the agents at this company would likely not fit the standard requirements of an Independent Contractor.
This web statement would need to be substantiated: ???National Card Monitor is a leader in helping consumers to get out from underneath the credit card debts that they have accumulated at a high interest rate.???
Both websites: http://nationalcardmonitor.com/ http://nationwidecardmonitor.com/ have the same phone number. One is private registration and the other is registered to:
National Card Monitor, llc
James Cox
PO BOX 27961
Tempe, Arizona 85285
United States
Phone: 800-633-7468
Spoke with Dennis to get contact email info.
7 Day notice given on 11/2/2011 Agent JH1753 ??? Response expiration date: 11/9/2011 5:00pm.
Consumer Mediation Services has performed a Complaint Analysis and finds that:
Nationwide Card Monitor has charged XXXXXXX XXXXXXXXXX the following amounts:
Company Set Up Fee $549.00
** End of Complaint Analysis
UPDATE:
I just went to NCM and delivered the complaint. I walked into suite 16 and there was no one in the waiting room. A sliding window opened; I confirmed this was the NCM that XXXXXXX was complaining about by cross referencing website and address, and I dropped of the paperwork. Copy of emailed complaint, POA and a copy of the Georgia Attorney General???s office proivded to me by XXXXXXX.
I left and went to lunch. When I was driving back, I wanted to snap a couple pictures of the office to post the complaint on social media sources. I was approached by a couple girls outside smoking; pleasant at first. then a couple guys came out. A small conversation took place and shortly after there was at least 10 people (maybe more) in front and around the front half circle of me. I was getting asked questions that were harmless at first. I told them I understand they were just doing their jobs, but if they wanted to be of help, they could point me in the direction of the owner.
Nobody knows who owns the company, and they laughed that off. One guy approached me and told me he was all I needed to be worried about talking with. Then another told me that he didn???t work there, didn???t care about the law and asked if I would like to join him around the corner to get my butt kicked. At that moment I decided to leave.
Words were being thrown fast at me and I started to bark back a bit to get them out of swinging distance at me. I advised the gentleman who ???didn???t work there??? and was in breathing distance of my face that he needed to back away. I also put my hand toward my hip to signify that I was ready to defend myself in the event I was attacked. At that moment, they backed up a little bit. They called me some more names as I walked to my car and left.
One person attempted to run to their car while I was pulling out of the parking lot. I believe they were unsuccessful in following me. It is apparent that these people are extreme trouble. I just spoke with John Stevens at the AZ Attorney Generals office. Although CMS provides 7 days for a response to be made, I am sending this based on the following: Regardless of the merits of any future regulatory actions, what I just experienced showed the mentality of the people working for and managing this company, as well as the environment in which they work in. In no way do I expect any consumer who is unhappy with their services to be successful in obtaining a refund. However, my services may have a more profound impact.
Regardless, these people are absolutely bad news and a regulatory investigation is the only thing that could possibly stop these people. They were not intimidated by me one bit. They grew in numbers, quickly, and were all very defensive of each other, and their company in a very aggressive manner; many seemed to be talking and moving as though they were on drugs.

While complaints come in often to various companies and websites, nothing that they have done regarding debt relief is surprising. In fact, XXXXXXX???s complaint is no more compelling than the other thousands of complaints people make each day. However, the aggressive and gang like mob that tried to intimidate me out of the parking lot showed that these people are trouble, and the fact that they are preying on elderly people shows that they rely on intimidation and other bad business practices to make money. No tangible service was done here.
When XXXXXXX complained to them, the company failed to justify the monies that were paid when, in fact, no tangible service was provided. Nationwide Card Monitor has shown a lack of sincerity in making the situation right for XXXXXXX XXXXXXXXXX and at this point we question how many other consumers are being victimized by the misleading promises and deceptive sales of Nationwide Card Monitor.
XXXXXXX XXXXXXXXXX has an executed Limited Power of Attorney on file with our company and we would be pleased to assist in delivering justice to XXXXXXX XXXXXXXXXX. I have attached that document to this message.
As Nationwide Card Monitor has failed to justify their fees, we feel it is imperative to escalate the situation to prevent future harm to additional consumers.
Please contact us should you have any need to discuss the details of our communications with Nationwide Card Monitor; we are here to fight relentlessly for regulation and disciplinary action against companies who fund their operations by scamming consumers in need.