Credit Card Debt Service

Are there better routes to go when in credit card debt rather than debt services?

"Debt negotiators," posing as non-profit organizations, can ruin your credit even further, advising you not to pay your credit card bills at all. They also charge upfront fees, maintenance fees, and monthly fees, all of which are supposed to be placed in a "trust" account. Then, after many months have passed, debt negotiators finally convince creditors to settle for less money than was owed, making yours an "uncollectible account."

That tactic not only ruins your credit, due to the many "over 90 days late" remarks and collections notations, but all the money you supposedly saved -- which was actually money you owed -- will be considered as income by the IRS! In other words, if you owed $20,000 and settled for $12,000, you'd be required to list the $8,000 difference as income!

Credit repair companies promise to help clear up your credit problems. They write letters to credit bureaus, stating that various listed information is false, so the agencies will remove that information while they investigate your account. During that time, the credit repair company sends you a clean credit report, thereby giving you the false impression that you now have good credit. But after you've paid off the credit repair company, you'll discover that all the negative items will soon reappear on your report. get more information from: http://www.card-gallery.com/

2007-02-06 11:59:56 by Linda Lee

www.debtfreeassociates.com -- If you have overwhelming credit card debt, don't panic. Our consolidation service at Debt Free Associates will ...

We have 3 credit cards, all maxed to and over the limit. I am consulting a credit counseling service but my husband doesn't want it to ruin our credit. I personally think it will get us out of debt A LOT quicker and we're not filing bankruptcy. It may give us a blemish on our credit. But I think it's worth it.

Be careful with so-called credit repair businesses. Many are a rip-off and charge you to virtually nothing. You can do better contacting the credit card company yourself and work out payment terms.

2006-05-23 19:49:17 by animalover

Price: $1.99

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

My friends husband died leaving her three kids and over $100,000.00 in credit card debt. She has been trying to pay but now is getting threatened with them taking her house. She make just a little over minimum wage on a part time basis and the depression is starting to drag her down.

so far I have done good progress with this:
http://debt-consolidation.50webs.org

2006-10-11 14:20:44 by Cuddly T

I am thinking of dealing with Clear One Debt Relief and it sounds to good to be true. What makes me leary is that they want me to go delinquent on my cards before they will step in and they will take my payments out of my checking account each month. They say they can take my $15,350.00 credit card debt and reduce it 47% but they will not deal with the company's until I am delinquent for at least 2 months and there is no guarantee that these company's will take their offer. I want to read the contract but I have to sign up first. Has anyone else been screwed by any of these company's?

Their is no law that says that your creditors have to deal with a 3rd party debt relief Co. You are still responsible for the debt. You also, have to pay them a monthly fee that you could use to pay the debt with.

2009-10-01 05:19:34 by Penne