A+ or A Plus Debt Free???
Date: Thu, 02/16/2006 - 14:59
He explained the program which sounded more like debt settlement than consolidation.
Does anyone have any experience with them good or bad?
Sincerely,
Quicksand
Did you inquire the following points from them? The total ba
Did you inquire the following points from them?
- The total balance owed and their payment offer?
- How will your account be updated in the credit report? Will it be shown as 'settled' or 'paid'?
- Are they offering any reduction in the total amount by waiving off the late payment fees, financial charges? Or they just came up with one total?
- Will they send you the monthly statements showing how your money has been applied?
Prefer to have your agreement in writing. Do not make any agreement until you have your contract signed in paper.
I told them we owed 112,000 in cc debt, and they said they could
I told them we owed 112,000 in cc debt, and they said they could knock it down to 60-80K offered 0% interest and $2000 a month. (my current min. is 2200 and I was paying about $3200 just for looks, about 50 extra on each card.
We make 152K a year, but we still have to pay house, cars, kids, food, etc.
He said my accounts would show settled and did not mention monthly statements.
He said once I agreed to the program he would send it in writing. I see you suggested the opposite.
He was under the impression one of my creditors asked him to call me because my FICO may have dropped below 550, Sept of last year it was 660 when I bought a car. I don't know what it is now but nothing significant has changed.
I travel alot and need to put arrangements on credit cards all the time. I was really bad about using my reimbursement instead of paying off my cards but not anymore. Anyway, I still need to be able to travel on short notice and this requires a credit card.
Sorry fogot to log in on that post above. That was me, Quicksand
Sorry fogot to log in on that post above. That was me, Quicksand.
Settlement is a negative remark that stays in the credit report
Settlement is a negative remark that stays in the credit report for a period of seven years. During this period, the lenders will be less interested in extending credit to you. They will assume that you have gone through some financial difficulties and were not able to pay the balance owed. As a result, you settled for a lesser amount. Also, the interest rates can also be a bit higher on this status.
Besides there can be many other reasons to avoid the settlement program. Please have a look at the following page:
http://www.debtconsolidationcare.com/debt-settlement.html
You can look towards a consolidation program as it has some favorable benefits. Please have a look at the following page:
http://www.debtconsolidationcare.com/benefits.html
Do let me know your take.
I asked point blank if this was consolidation or settlement, He
I asked point blank if this was consolidation or settlement, He swore it was consolidation. I'll have to ask more questions, Thanks!
A Plus
Did you go with them? If so, have they done you well or treated you badly? I got a call from them today. He wasn't overly pushy so I'm looking around for info on them. The site he gave me was aplusdebtfree.com