2006-10-18 07:49:08 · 6 answers · asked by J H 1 in Business & Finance ➔ Credit
If you use an actual consumer credit counseling company, they can work. They will analyze your financial situation and then try to arrange payment agreements with your creditors. You pay them monthly, and they pay your creditors monthly. Most creditors will allow you only one shot with the credit counseling agreement, so you have to stick with the program once you start.
Do NOT use a settlement company. These folks will charge you upfront legal fees, etc., and take your money - but they won't pay your creditors immediately. Your monthly payments will sit in an account until enough accrues to pay a settlement agreement. In the meantime, they'll tell you not to pay your creditors. Never a good idea!
Try this site:
http://www.cccsintl.org/
Give them accurate information about your situation, and they will send you a proposed payment plan that details how they can help you. You are not obligated to do anything, and you won't be charged for this initial report. I believe there is a small monthly fee for their services, but it is not outrageous or unreasonable.
2006-10-18 11:46:06 · answer #1 · answered by milomax 6 · 0⤊ 0⤋
Steve D...quit referring people to this company or I'll report you for abuse.
This company does not offer free counseling. It's a company that pushed consolidation loans, and you can bet those are not free! Just look at the web site and read around the bologny they are saying! It's just another credit repair scam company.
Be aware that credit counseling/repair companies do exactly the same thing you can do yourself.
Do they work? That's easy! Just ask them to sign a contract guaranteeing that they will fix your credit, and if not they won't get paid. See how many of them sign such an agreement.
Just take the time to research this a little bit on the internet and educate yourself. Try to fix it yourself. If you still feel uncomfortable with fighting with creditors, go ahead and hire one of these companies, but be aware up front that they will do more harm then good to your credit.
Don't take my word for it...see what the Federal Trade Commission says about these companies. Read the link below.
2006-10-18 09:20:26 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Credit Counseling Programs
When you are stuck in debt, consider all the available options. You will need to work closely with experts who will provide right guidance to clear off your debts. Credit counseling agency is one such set of experts, equipped to fight debt.
2006-10-20 01:15:23 · answer #3 · answered by sing i 2 · 0⤊ 0⤋
Sure. The good ones are non-profit and don't charge you a fee. If you need someone to manage your debts and negotiate with your creditors on your behalf, the one I recommend is here - http://necessaryvirtues.com/go/6022/15
There's no cost or obligation to inquire. Good luck!
2006-10-18 07:54:30 · answer #4 · answered by Anonymous · 0⤊ 0⤋
No. even the not for profit charge you $50 a month to work it out.
get some extra money here
http://www.freewebs.com/cashmail/
2006-10-18 08:10:39 · answer #5 · answered by Anonymous · 0⤊ 0⤋
they don't work, there are require if your filing bk 11
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http://www.bestcreditrates.net
2006-10-18 09:13:53 · answer #6 · answered by BIjan 2 · 0⤊ 0⤋