credit solutions has anybody used them or herd bad news?

Question

i have 16,000 in credit card debt and was talking to them and they said that my monthly payment would be 270.00 heck im paying that just on one credit card and i have 5 total..he said it would be for 3 years and the total would be for me to pay back is 9.600...help please this sounds too good to be true

thanks brett

Answer 1

Credit solutions is working for the credit card companies. They still ruin your credit because you are paying pennies on the dollar. Debt consolidation companies are not a good idea. In some instances the consolidation is just as bad as bankruptcy.

Answer 2

There are a lot o counseling services out there. Remember: the most important part of the whole thing is changing your lifestyle so that you don't do whatever got you into this mess in the first place again.

They get the card companies to take a lower rate and write off some interest in the hope of avoiding a total write-off. This will clear the debt, but you have not paid the account "as agreed" and should not expect this to look good on your credit report. A friend of mine was surprised to find his credit report flagged as "hardship plan".

Answer 3

never heard before

Answer 4

i don know