Question Dell Financial Services

I believe Shirley said that T&C told her Dell Financial Services does not participate in consolidation programs.
As a matter of fact I think she said the guy from T&C told her she was better off being in collections on those accounts and going into consolidation that having the accounts still with DFS.


By the way DFS is a major reason why I will never buy another product from Dell (Well them and the fact that Dell continues to actively send American jobs over seas).

Clay seems to be right here.

lgall, Shirley has been dealing with Dell for quite a long time. She can give you some more information about Dell.

Ok I have some more questions about Dell. This acct I have is going nowhere. How long do you have to default before it goes to collections? When it goes to collections is the interest stopped? My credit is so bad & this is just going to make it worse isn't it. Please I need some advice on this. I just keep paying every month & the balance doesn't change.

It depends upon each company when they will send the file to collections. Usually, many of them will send the file when the account is 60 - 90 days past due date. By that time, it is in the state of reaching charged off status. Either the creditor will hire a debt collector for recovering the amount that will be later posted in their books. Or they will sell the file to some outside collection agency for pennies on dollar.

The interests can still add on the debt account even after it reaches collections. The contract signed with the original company will mention the interest charges that can be tucked on collections. There are fixed rates for each debt collector to be followed as per individual state laws.

If possible, don't let your credit go worse. Apply some control now so that you are able to repair your bad credit. There are some debt management programs that can make your repayment process easier with the creditors and ultimately improve your credit scores. Use some of the tips for the proper debt solutions mentioned here.

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

I have already been w/ a credit counseling agcy for 2 yrs now. From what I understand Dell does not accept any type of proposal from places like that.

I Have Been with dell for some where around 4 years and i started out with 2 computers and there was like 1200 and i have been paying on them each month and the bill DOESNT go down it has ben going up more nad more each month Now my computer are 1777. I havent payed on them for 2 months now.should i just let it go and let the credit agcy get in touch with me or What should i do to get them payed off? i am soooo sick of dealing with dell now

We have been having the same problem where we were making the monthly payments and sometimes more than that and the balance never seems to go down. Now I am in collections for the accounts and they keep routing my phone inquiries to some law firm but so far, I have never been able to speak with an actual human being so that we can work with this account. (I am also in a DMP and they would not work with mine also). Is anyone else having this problem?

I just recently have employed the help of a DMP with my debts and was really upset that Dell does not work with them. I don't understand why. The interest rate was increased and I was making less money due to job transfer. I couldn't keep up the payments. I had to prioritize...car payment, rent, food, etc. I was thinking that maybe I could get them to lower the rate so I can get it paid off, but I don't think they will do that unless a lawyer is involved and maybe not even then. I'm losing sleep worrying about whether they will garnish my wages or not. Does anyone know if they can do this?

Not unless they take you to court and win a judgment against you.

I became suddenly disabled, have to wait 6 months for disability insurance to kick in, and have had no income for several months.
I worked directly with my biggest creditor to set up a payment plan and reduce the interest on the balance by 73%. They are also waiving late payment fees. The rest of my debt has been set up on a DMP with similar results EXCEPT **DFS**.
DFS DOES NOT PARTICIPATE IN ANY DMP PROGRAMS BY NON-PROFITS, nor will they participate with a debt consolidator. Prior to becoming disabled, I had 33 months of on-time payments but that doesn't matter. :confused::shock:
THE DFS PLAN: They will not discuss any option with you until your account is current. Then, they require a "good reason" why you need a plan. If they are agreeable,
*they want 6 months of post-dated checks (or authorization to access your account).
*If you don't agree. to postdating 6 months of payments at the current rate you pay, you have to
bring your account current
*you can pay online at DFS.com through your bank or credit card, but they want you to
authorize their online service instead
*you must then call them with a tracking number if you don't authorize their service or give
them post dated checks/your bank account authorization
*you MUST then have 6 consecutive months of on-time, full payments at the current rate
*BEFORE you can negotiate a lower rate (but they won't tell you how much)
*the lower rate only applies for 6 months
*AFTER WHICH YOU REVERT TO THE ***HIGHER***RATE :(:mad:
BEWARE OF DFS! THEY DO NOT WORK WITH YOU LIKE MOST OTHER CREDITORS WILL.:(