Credit Card Debt Management Company

I don't know how best to answer the summons. I have saved almost enough money to probably settle with the credit card company. I will get paid and have the last of the money in hand two weeks after I have to answer the summons in writing. Should I put this information in the answer or just answer it generically and hope they settle when my debt management company contacts them. My debt management company won't contact them til I have the rest of the money in the settlement account.

Fire your "debt management company". They obviously aren't doing the job you hired them to do, as you got sued. If they are setup to deduct money from your bank account, put a stop to that. Also, demand that they to send you any money that they are holding for you.

You need to respond to the law suit. If you don't, a default judgment can be entered against you (which is bad).

If you don't know how to respond to the law suit, I would suggest hiring an attorney. You can get a referral from your local county bar association and you may be eligible for free legal help from your local legal aid office. An attorney could also help you severing your ties with the "debt management company" and getting your money back.

2008-05-10 18:02:50 by bookworm6061

Ways to consolidate credit card debt include using balance transfers and contacting a credit union or bank for loans. Condense credit card debt ...

Myself and my soon to be fiance are in a lot of credit card debt. Between the both of us we always pay our bills on time but now it is starting to become a problem where it is getting overwhelming. I want to get a loan to pay off everything in 4-5 yrs but don't want to work with a debt solution company if it is going to hurt our credit.

There are a couple of options I would suggest. Don't use a debt solutions company. They usually just have some $7 dollar employee telling you what to do while he reads the scripted answers to you. First fiand out what your current credit score is and then put that to work. For example you can get a higher limit card and balance transfer all your debt with a $0 balance transfer fee and then usually 12 months free interest. Upon this method continue paying the highest amount you can monthly. After time it will be paid off quickly. Your motivation and dedication to your spending habits will be hard to change. Although determination will get you through it. 2nd, choice I suggest. Let me know your credit situation and I will help you evaluate what bank and card you will get the best rate from. I have done this now for 5 years and completed cleared my bad debt. Just by rearranging my debt I was able to have plenty of money left over to invest. If you need anything else. Let me know. CLINT

2006-09-17 17:03:55 by Ryan 21

Price: $6.99

I get the feeling from talking with Take Charge America (a nonprofit debt management/credit counseling company) that my creditors will be more willing to work with them than they are with me. What I am asking from my creditors is realistic (waiving of some fees, lower interest rates, etc.) however they are not willing to cooperate. According to Take Charge America, they will be able to consolidate my payments into one and submit proposals to my credit card companies and lower my rates and get me out of debt in just over three years. Is this the case? Are credit card companies more willing to work with a Debt Management Plan program than they are with me? if so, why is that the case?

no dont do credit counseling. The problem with credit counseling is that it’ll take you 5 to 7 years to complete since it can only reduce a minor portion of your interest rates. According to Consumer Reports, the credit counseling dropout rate is 79%! Unfortunately, many of these people end up doing bankruptcy. The dropout rate is so high because credit counseling gives people monthly payments as the same minimums they were struggling with and since it only reduces interest, it barely reduces your debt. Another problem with credit counseling os that it appears negatively on your credit report telling other creditors you were unfit to mage your debt and had to hire a credit counselor.

i personally used debt settlement they lower your monthly payments and cut your debt by about 60%. they work on lowering your principal balance. best choise so far.. here is the company i used.

www.debtfreeleague.com

2009-04-20 17:09:10 by Jeff W

Price: $9.95 $9.95

I have over $20,000 of credit card debt. I am able to pay them off slowly now, but I am thinking of consolidating everything with a debt management program. This program said they will close all my accounts and all I have to pay is a low monthly payment of $500 a month for all my credit cards. Is this a good deal? I am not sure. Thank you for reading and thank you for your time.

This is not a good deal. Reducing your payments will not save you anymore at all, infact, often times you will end up paying more in the long run.


The only way a debt consolidation loan is a good idea is if you get a lower interest rate, but continue to make high monthly payments, so more money is going towards principal rather tha towards interest. This is the only way to pay off more of your debts...applying more money towards the principal.

If you don't go the route of the consolication loan, make extra payments on the smallest debt only...make as big of a paymnet as possible on this one, while maintaining the other minumum payments. When that debt is paid off, move that entire payment amount onto the next smallest debt. COntinue doing this until it's gone. Again, the key is to make sure the monthly payments stay high, you're just transfering the payments from one to another as they get paid off. This is the "Debt snowball" strategy that most debt management companies recommend and is also promoted by people like DAve Ramsey, and Richard Kiyosaki.

2008-11-11 08:38:39 by Leroy

I am constantly being called by two companies, Global Credit Card and Debt Management Service, these two companies constantly ring me and offer me Credit Cards solutions to help me get out of debt. Now when I wish to enquire about the company, such as the name of the person that I am speaking to, where they are based, a website, a contact telephone number I am told that they do not need to give me that information. Now I don’t know about you guys if you are getting the same kind of nuisance as me but I really want to get these guys caught. Last time I was sucked in, I was offered a pre approved £4000 credit card, when with my credit history I can’t even get a £1000 credit card. So I ask them how can they approve me already, how do they know my details on how they can approve me, I get the response that I am chosen from a selected few to receive this 5 year anniversary offer. Okay so basically I was told that with £2 I can have the pack sent out to me, so I thought why not see what they can offer me, soon as I gave them my details I had £12 taken out of my account. Now the only bit of information that I was given about the company is that they’re on Cleveland Road in London I wouldn’t take that information 100% accurate. They also interrogate you to pay a monthly fee to charity where the person will tell you that you don’t have to contribute, I didn’t want to contribute but this conversation went on for about 20 minutes on the phone as to why I don’t want to pay them and all I got was the vibe that I’m not going anywhere until you pay us the amount.

If you refuse to speak to them once, they will ring you back.

If you offered them your details and they took extra money out and you can’t do nothing about it well they will ring you back under a different company name.

Global Credit Card & Debt Management Services are FRAUD companies.

I repeat they are companies who are doing fraud. Do not give them any information, slowly, slowly they will build up the details of your home, email, work history. With this information they can do anything. Immediately if you think you have been effected change your card, call the report it missing or stolen line at the back of the card and check your statements.

If anything the name of the company will appear on your statement under this name CALLEMATICS LTD. The address for the company is CALLEMATICS LIMITED, 74 Cleveland Street, LONDON, W1T 6NA. But I fear this will only be the name of the company which provides its call centre information

If you have any experiences with this company, please state here.

this company also stung my wife and i for £20, as luck would have it, we decided to check with our credit card provider within the hour, and got our cards cancelled and new cards issued, but we still got hammered for the above amount.
to google callematics you find it is a non-contactable company, who seem to be a foreign call centre, should we hold them responsible for the fraud on my cards????

2009-03-31 11:53:10 by est1984