Creditor not interested in debt settlement

This is a very common feedback from creditors. Let it be handled by your counselor. Once you place your debts under consolidation program, the counselor working in the program deals with your creditors tactfully and get the payment plan approved.

Another point I would like to include here, settlement often hurts your credit. Accounts reported as ???settled' lower your score. So try to consolidate your debts. And once your accounts are paid in full, your report will be updated accordingly and your score will go up.

IMO, you should avail the free consultation offered by this site. Fill out the sign up form and the counselor will be calling you in a couple of days.

Hi Anna, welcome to the forums! Its so good to see you here.
Quote:

I just got a call yesterday from one of my credit cards and told them I was with debt consolidation program and they said they don't deal with them, then she asked me how much they were paying (I guess the debt consolidation program) I am with T&C. I gave T&C this one credit card I have 4 and all are now with T&C. I am calling T&C on Monday to let them call this credit card. Used to Bank of Marin now it is called Bank One - another crecit card company changed its name too - are they changing their names because they are in trouble?

Hope your counselor will be able to control the situation. Changing business name is very common. It has been reported in this forum that ECA changed name and started business again. Possibly they try to hide their previous identity.

Keep us posted once you talk with your counselor.

If you spoke with someone in your creditor's collection department, it seems that they often mislead their customers about whether or not they work with debt management companies.

can a debt consolidation help me with my payday loans? i live in texas. do you know of a debt consolidation that i can contact, should i suspend thsi transation at my bank?

Any creditor who refuses negotiation with someone who was a valued customer recently is no creditor I would like to do business with! You can still add the account to a consolidation program like T and C and all they can say is wah wah wah...

Are there any programs that consolidate payday loans? I have tried several of the mainstream ones but none of them do payday loans. Hope you can help a.s.a.p. I am drowning in stress and debt.

Thanks,

Clopez

I have 2 accounts in collection one is 150 (2004), and I have a charge off with a Bank 210(2001) going to be a while before these items come off. The other is a bill with alltel. Cannot get in contact with the correct person to try to negotiate the debt to say paid as a agreed. They say the debt is being collected by Focus but not on my credit report. I need info on alltel about paying the debt of for a favorable report. Las question if I pay of the 150 and 210 will my score go up. Equifax score went from 590 to 627 with one deletion. I do not have my other scores. I have had stuff deleted though. Thanks forum.

clopez,

Check your PM.

quinn212,

Las question if I pay of the 150 and 210 will my score go up.

Paid accounts are always favored. Collection and charged-off are considered as negative status. But if you pay the accounts, it will be reported as paid collection and paid charged-off. This is still negative but better than previous. Moreover, if you can build up a rapport with your creditor or collector, you can request them to report it as paid as agreed as well.

How have you come to know about the bill with Alltel. It is not there in your report, right? Did they contact you? Why don't you ask Alltel about the address of the collection agency holding your account? You can also search BBB website to get the address of Focus. Hope this has helped. Keep us posted.