Consumer Credit And Debt Counseling Company Debt Management

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

Most debt consolidation companies do nothing better than simply ruin your fico score in order to settle your debt. If you really want to work with ...

I have some credit card debt from two cards and they have both been closed and turned to collections. I would like to put all the debt and make a payment plan or even make a payment plan with the individual companies so I can clean up my credit. How can I do that? And has anyone ever had a similar experience? And would it be better to contact the collection agencies themselves to make a payment plan or should I use Consumer Credit Counseling Services Debt Management Plan? I owe about 3,000 between two credit cards but I am a college student with limited income?

Hi,
I used "Credit Solution" to settle my debt and improve my credit score.They managed to reduce my debt up to 58%.It's legitimate. Icame across this company on NBC News Special Edition.Check it out here:
http://lnkurl.com/25

2008-06-21 12:55:53 by JJ1231

Price: $5.95 $5.95

is it even possible to call them up directly and get on a payment plan or get some kind of help from the credit card company?

I don't want to file bankruptcy or get involved with a debt management/consumer credit counseling service.

I want to try to work this out paying the debt I owe, but still have a little $$ in the bank to live day to day.

Here are some suggestions for you:

1.) contact the company ASAP and tell them you want to speak with a manager. When you get on the phone with them explain to them the situation and tell them that you need help to be able to pay your debt off (they get these situations every day and are willing to help but you have to ask for it). If they want their money then they will help you. You can work out a deal where they will take the money directly out of your account on a certain date of every month. They can adjust your account to not accrue any more finance charges and you will pay down what you owe.

2.) Don't go to a credit counseling place, all they will do is the same thing you can do and they get paid for it. Avoid them as much as possible, you don't want your money to go down the drains.

3.) Don't file for bankruptcy. It will destroy your credit for 5 years or more. Plus it takes for EVER to get your credit back up there.

4.) You could also talk to your bank and discuss a debt consolidation loan. They will pay off your credit cards and then you will have to pay them back. I would use that as a last resort before filing for bankruptcy because your payments might make it even harder to get through each day. Plus the interest rates are not going to help you either. You are going to pay a good portion on interest.

Good luck!!

2006-07-31 08:53:27 by itsinthepalmofmyhand

Price: $9.95 $9.95