Are credit card companies more willing to work with a Debt Management Plan company or the consumer
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.
Where can I get a poor credit
Perhaps you may want to start by getting financially educated. How $$ works. Take it for some one that's being there, a different loan may not be the solution. It only will transfers your headaches from one place to another, at a higher interest rate.
Do you know what if you divide 72 among the interest you pay, you can find out how many times are you doubling some one's money (the lender).
You can get off debt on your own, make payment arrangements, tight budget, increase cash flow and still have extra to make sure you meet your goals, if you take just a few hrs. to learn how.
Citinet offers free financial education, no investment, no buy books cds or none of that bs. just straight forward education in how r u to handle your situation to your advantage. I talk by personal experience.
They'll expose for you the loan programs how they work how they make money on you and what can you do to choose the best, on your own. What can you do with your fico they way it is. They do this open to the public, they have offices across the us.
If I stop making mortgage payments on my rental house, can the bank force me to sell my primary house?
On the upside, if you default on your primary residence, you can escpape the ordinary income & tax of debt cancellation http://www.irs.gov/individuals/article/0…
Unfortunately, this does not apply to investment properties. It may be better to let the primary residence foreclose & then move into the rental home.
Most banks will not work out a short sale or loan modification until you prove assets, income, etc., in addition to being late on payments to the point of foreclosure process being on your doorstep.
Is Consumer Credit Services of America legitimate?
Don't know about them, but contact your states Attorney General for assistance.
Debt counseling company????
I suggest you contact your creditors and see what they can do for you. If it's a few dollars off, I suggest you do it yourself. If the counseling company can save you more money, then I would go with them. I went with a consolidation company, with my situation, it took me longer, but saved me more per paycheck....
Mabel Said:I want to consolidate my credit cards?We Answered:You might consider transferring your balances to a 0% APR credit card. Although this won't solve your problem completely, it will reduce your monthly minimums and help you avoid paying interest for up to 12 months. Over that period, you could knock down your balances significantly-- then maybe even switch to another 0% APR credit card before the first intro period is over (until your debt is paid off completely). You can find a complete list of offers here:
Although switching credit cards on a regular basis might have a slightly negative impact...
Betty Said:Have $35K in credit debt, should we do consumer credit counceling?We Answered:Some creditors will think that having the help of a consumer credit counseling service is a step away from bankruptcy, but on paper, it really is a better choice than bankruptcy.
If you can't afford your bills with how they are set up right now, it would be your best choice to prevent bankruptcy.Michelle Said:i wanted to know if anyone has ever used american consumer credit counceling before to get out of debt?We Answered:Read this Wall Street Journal articles on such companies: http://online.wsj.com/article_email/SB12…Holly Said:high interest rates on credit cards.can...
Adrian Said:as anyone ever used american consumer credit counciling to get out of debt? also known as accc if so did it?We Answered:noLeah Said:do consumer credit counciling programs really work?We Answered:It's all a matter of what your end game is. I don't think one is better than the other, it is just a matter of what will work better for you.
Angela Said:What documentation is needed to pull another persons Credit Report?We Answered:Credit bureaus are for-profit businesses. You need to to subscribe to their service.Brent Said:Which is the best consumer credit counseling agency?We Answered:I agree with Slimick I used Consumer Credit Counseling Services several years ago and they are great.
They lowered my interest rate and monthly payment and I was debt free in 36-months.
You can reach them at 1-800-388-2227.Nellie Said:Does anyone know of a good agency that can handle consumer credit counseling?We Answered:hey,
try Incharge Debt solutions, they are non profitableRita Said:Should I join Consumer Credit Counseling? They will charge me...
Danny Said:i have got myself into debt, has anyone ever used the consumer credit counselling service?We Answered:You could try the Citizens Advice Bureau. They have fully trained debt advisors and their service is free.Pauline Said:Debt Consolidation Program... How long after?We Answered:Let me just say " good for you" you have stuck it out and your almost done!
You will have record of that for 7 years after your out of the program but regardless of what people say CCC does not hurt you as much as you think.
Getting credit again ? depends we have had clients get offers...
Randy Said:can anyone tell me what the status of your credit is after working with consumer credit counseling?We Answered:Old school bankers and mortgage brokers are usually the source of that fib. They still believe that it is looked upon negatively on your credit. The truth is that Fair Isaac and Co, the inventer of the credit models, did a study 8 years ago. They found that people on a debt management plan were no likely to default that those that were not on a DMP.
From that point on, joining a DMP did not reduce your credit score. Many people do...
Josephine Said:What would you suggest for a 20 yr old to do about 4 negative accounts on credit report?We Answered:If you are considering credit counseling, make sure the company is a member of NFCC (http://www.nfcc.org/). These are legit, non-profit companies that can review your finances and advise you how to proceed.
Paying off derogatory items on your credit report will not improve your score. The damage is already done. However, creditors look at your whole report,not just the score. Paid old debt always looks better.
You can negotiate settlement of derogatory items yourself. If the derogatory is...
Frank Said:has anyone in canada heard of consumer credit counselling and did it work.was it legit?We Answered:Make positive you are not falling for a scam company.
In the US these companies do not charge more than $25/ month.
Their site in the US is NFCC.org
But the US has a lot of fake consumer councelling agencies that SAY they are non profit.
Be very smart about this ...
People that have used the real one - call their employees angels
Just google the name of the company followed by the word complaint.
I hope you know you can easily do all this yourself with a good book.
Emily Said:What is the best and legitimate credit counseling agency(ies)?We Answered:Consumer Credit Counseling is an option but most will charge you to do what you could do on your own,(not much because most are nonprofit) they can ruin your credit by missing payments. Also the C's (Consumer Credit Counseling) always shows up on your credit, it is required. Most other lenders will not give you any new credit. This is part of the agreement to help you.
So here is what I would suggest.
1) Stop using Credit Cards or other credit.
2) Write down and list all your debts (be...
Lena Said:Which company is best Incharge Debt Solution or consumer Credit Counseling?We Answered:There is nothing they are going to do that you can't do yourself. Look up your specific issues on-line, learn, and apply the lessons to your issues. When you get involved with these groups, there are hidden fees and costs, such as interest charged for longer length loans. Read this:
Here's another example, this one involving debt settlement. Let's say you have racked up $20,000 in unsecured credit card debts. You owe $10,000 to one credit card company, $7,000 to another one, and $3,000 to a...
Jordan Said:What's the difference in an S-Corp and a Non-Profit?We Answered:You are half correct. An s-corp is a pass through entity where the profit/loss, deductions, credits, distributions, etc pass through to the owners. But a non-profit is not a pass-through entity (who would they pass through to?), it retains it's profits (yes, it can actually make money, but not pay taxes on the profit) for itself to use. A non-profit that doesn't make a profit won't be around for very long. As far as an s-corp versus a non-profit, you can take the profit out of an s-corp via distributions...
Antonio Said:Do you recommend any of these credit counseling agencies?We Answered:There is only one you need to know.
Its a non-profit organization set up by the government.
National Foundation for Consumer Councelling.
They are free, or at max they will charge you $25/ month.
All these places you mention sound like scams.
Companies that negotiate, consolidate, or settle.
They ruin your credit and the major complaints are that:
After you pay thousands of dollars you end up in court anyway.
Google debt negotiation complaint:
It will open your eyes as to what these companies really do.
Always google the name of a company followed by the words
scam, rip-off, complaint ...
Ricky Said:Have you used Consumer Credit Counseling Service or Christian Crossroads Debt Management program?We Answered:I used Consumer Credit Counseling Services several years ago and was very happy.
They worked with my creditors to lower both my monthly payments and interest rate.
I was debt free in 36-months.Marc Said:Will consumer credit counseling services negatively affect my credit if I use the debt consolidation program?We Answered:yes it willJeffery Said:will using consumer credit counseling affect me if I have to relocate and buy a new house (VA loan) in 2 yrs?We Answered:VA home loans are a unique way of extending support to the US war...
Christy Said:illegal or just outrageous?We Answered:I don't see why it wouldn't be legal. These services make their money of short term loans, typically a few days.
I wouldn't advise ever using it..Crystal Said:What does ADSTLAN stand for?We Answered:Without using credit counseling? They sound like credit counseling to me. If they negotiate with your creditors, the creditors will report as much to the credit bureaus....
Bruce Said:how do I get to my credit union page? thornapple valley cu pib 38?We Answered:Is this it?
http://www.tvccu.com/Colleen Said:does credit union WATERMARK CU uses chexsystem to open a new account?We Answered:Yes, all financial institutions use chex systems and it will be there for
up to 7 years. If you pay off the Bank/credit Union you owe $ to
get a letter from them showing you paid them off. The record will
still stay with chex systems but most banks will give you a second chanceLillie Said:What is the difference between a Bank, Building Society and a Credit Union?We Answered:Generally speaking, a bank...