When I was shopping around for
debt settlement companies I came across many Christian debt
consolidation/settlement companies too. I don't know, I guess I just
didn't feel comfortable with a company using the Lord as a marketing
tactic (although, maybe it is true). I eventually found a company
through solicitation removed, and they
did all of the searching for me. It was super easy. I've just started
about 4 months ago, and so far so good! Soon to be debt
free!
Sub: #41 posted on Mon, 03/08/2010 - 09:10
Unregistered
All the debt relief or debt
consolidation weather it is Christian or not. Be very careful. I would
not recommend them. They will take your money faster than anything and
they don't really do their job well. You can do it all by yourself.
Just don't be afraid of anything. Even if you are sue, you can always
make payments with the court. They will take on your payment tern.
They will offer you a settlement down the road. If you make payment,
there won't be any more interest. I have been
there.
i got a call telling me to
call 281-214-1203 allied data cor. but it did not ask for anyone just
for the person on the phone to call can you help me
please
Sub: #43 posted on Thu, 03/11/2010 - 14:19
Unregistered
Most companies that claim to
be Christians are rip offs, why? because it is agianst the law to hire
based on race, religion, sex, etc. you get the idea! If you really want
to save money you need to be educated and go with a company that isn't
doing the exact opposite of what a Christian would do.
ITS IILEGAL!
Sub: #44 posted on Thu, 04/01/2010 - 14:45
Unregistered
When the debt charges off,
usually around the same time it is purchased (factored), there are no
longer chances of getting that substantial 1099 added income tax on the
savings. It's a major pitfall with settling with the primary creditors,
I only did settlements with 3rd parties, and always try to verify charge
off date before settling. Most CC companies charge accounts off between
120-180 days, with Citi being the longest I know of at 210 days (7
months after the last payment was made). It's a long process and can be
more difficult to get the original creditors to stop calling, but it's
worth it not to get 1099'd. I can't offer tax advice but that's my
understanding of the process. I do know that Capital One, Citi, and
Chase will each take some form of remove from phone list letter, or even
a Cease and Desist usually used with 3rd party collectors.
Good debt settlement is possible, there is just a window of time after
chargeoff and before litigation to get a good settlement. Even if it's
with a same state attorney who is filing suit for a judgment, you can
negotiate a settlement of usually around 50% most of the time. If thats
not doable at the time, you can either go to court or take a default
judgment. If a judgment is obtained, they can still be settled often
under 30%. It takes a couple years to get them off the credit report
from what I have heard but still can be removed. After you get a
judgment though, you have to send them a certain amount of money per
month, usually $25-$100 depending on the size of the debt, to prevent
them from executing the judgment, which is going after liens,
garnishment, and checking account freezes. Consult with a business
lawyer as there may be different/ other things you need to do to prevent
a judgment from being executed, if you end up getting a judgment.
Andy
Quote:
Originally
Posted by Anonymous
I too need some financial help but every
consolidator I have spoken to fails to mention about the IRS potential
tax liability you have after signing up and they set up. The settled
amount s then reported to the IRS as income you gained and you have to
pay taxes on it Not only that, after the payoff it is reported to the
credit bureaus you settled for less. So it's not as good as they
say.
Also, the credit score will go
down with any debt consolidation OR settlement program. It should really
only be looked at as an alternative to bankruptcy, and most of my former
clients already had low credit so it didn;t make much difference.
However, after debt is all settled, you can begin the process of
repairing the credit, which can involve things like sending different
sets of letters to the credit bureaus to dispute the inquiries caused by
settled below balance accounts and other negative marks. Some of the
more detailed credit repair plans include re-establishing lines of
credit with lenders that are manageable. Hope this
helps
:) Hello. I
find that the "Christian Debt Consolidation" companies have nothing more
to offer than the legitimate, non-promoting-Christian debt consolidation
companies. I am currently working with Care One Credit to get out of my
credit card mess. It's my own fault, I took credit cards out (again)
post-Chapter 7 back in 2006. Care One Credit, although not "Christian"
(in advertising, anyways) has been nothing but friendly, helpful and
convenient. Just a thought! ~Thanks, Jen D.
christian
debt consolidation 2201 N.W. Corporate Blvd., STE 202 boca raton,
florida. are they a rip off? ever heard of
them.
A friend told me about these folks, so, I called. Assuming (one should
never do) that they would be a ".org" organization, out to "help"
people.
Not so, the guy was telling the truth, I think, when he told me they are
just a segment of a larger "For Profit" company.
Too many people trust organizations that appeal to personal religious
beliefs.
He asked what I paid each month, I told him, WELL, he came back with a
settlement that had me paying the same amount of money. Could NOT get
through to him, that I was calling because it was taking food from my
table! I said thank you and hung up.
If there were an icon below for "CAUTION", I'd post a red flag
warning.
Sub: #48 posted on Fri, 08/20/2010 - 09:32
Unregistered
The Christian debt
consolidation does a right thing if it educates the people to honor
their payments and dues and live within their limits. Actually, it is
important to make a debtor debt free, but it is still more important to
make him realize that he has the responsibilities to return back, what
he has taken from others. This way, they will not fall under debt in
future, as they come to realize that they should live within the
limitations of their income.
The
Christian debt consolidation does a right thing if it educates the
people to honor their payments and dues and live within their limits.
Actually, it is important to make a debtor debt free, but it is still
more important to make him realize that he has the responsibilities to
return back, what he has taken from others. This way, they will not fall
under debt in future, as they come to realize that they should live
within the limitations of their income.
Sub: #41 posted on Mon, 03/08/2010 - 09:10
Sub: #42 posted on Mon, 03/08/2010 - 18:52
(Posts: 2 | Credits: )
Sub: #43 posted on Thu, 03/11/2010 - 14:19
ITS IILEGAL!
Sub: #44 posted on Thu, 04/01/2010 - 14:45
Good debt settlement is possible, there is just a window of time after chargeoff and before litigation to get a good settlement. Even if it's with a same state attorney who is filing suit for a judgment, you can negotiate a settlement of usually around 50% most of the time. If thats not doable at the time, you can either go to court or take a default judgment. If a judgment is obtained, they can still be settled often under 30%. It takes a couple years to get them off the credit report from what I have heard but still can be removed. After you get a judgment though, you have to send them a certain amount of money per month, usually $25-$100 depending on the size of the debt, to prevent them from executing the judgment, which is going after liens, garnishment, and checking account freezes. Consult with a business lawyer as there may be different/ other things you need to do to prevent a judgment from being executed, if you end up getting a judgment.
Andy
Quote:
Sub: #45 posted on Sun, 06/27/2010 - 14:17
(Posts: 36 | Credits: )
Sub: #46 posted on Sun, 06/27/2010 - 14:20
(Posts: 36 | Credits: )
Sub: #47 posted on Fri, 07/23/2010 - 10:52
(Posts: 63 | Credits: )
A friend told me about these folks, so, I called. Assuming (one should never do) that they would be a ".org" organization, out to "help" people.
Not so, the guy was telling the truth, I think, when he told me they are just a segment of a larger "For Profit" company.
Too many people trust organizations that appeal to personal religious beliefs.
He asked what I paid each month, I told him, WELL, he came back with a settlement that had me paying the same amount of money. Could NOT get through to him, that I was calling because it was taking food from my table! I said thank you and hung up.
If there were an icon below for "CAUTION", I'd post a red flag warning.
Sub: #48 posted on Fri, 08/20/2010 - 09:32
Sub: #49 posted on Wed, 09/08/2010 - 07:27
(Posts: 14 | Credits: )
Um, what?
Sub: #50 posted on Wed, 09/08/2010 - 09:18
Moderators Cum Industry Expert
(Posts: 5253 | Credits: )