2007-09-17 04:29:35 · 4 answers · asked by shawneeee77 1 in Business & Finance ➔ Credit
Someone I know went through them a number of years ago. She had to cut up all her credit cards, but they succeeded in getting the cc companies to reduce interest rates drastically. It took her something like 3 years to pay off all the bills though.
2007-09-17 04:38:14 · answer #1 · answered by Judy 7 · 0⤊ 0⤋
Be very careful in what you are about to do.
You can actually do most of the work yourself -- contact your creditors and arrange payment plans, pay off small bills first and then apply what you were paying to the next bill until that is paid off etc. etc. Be systematic and when something is paid off insist on a letter saying the debt is paid in full and request that this also be reported to the credit reporting agencies.
Have a plan and stick to it. In about two years of consistently paying off your bills, staying with a budget, and keeping out of new debt you will have reestablished your credit.
2007-09-17 04:42:39 · answer #2 · answered by Othniel 6 · 1⤊ 0⤋
I had clients who went through CCCS (Consumer Credit Coundeling Services) the non- profit org. It went great only downfall is that you have to be late on everything to qualify and they put something on your credit saying that you used CCCS that could either work for or against a person for their future credit needs.
I have seen people have huge problems who use for- profit credit counseling programs. They rely on the fact that their client will not follow thru with the agreement. Avoid them if you can.
2007-09-17 08:25:48 · answer #3 · answered by JenniferE 2 · 0⤊ 0⤋
yes, they negotiate alright, but they paid late, i would never do again
www.creditinfocenter.com
2007-09-17 07:39:59 · answer #4 · answered by Anonymous · 0⤊ 0⤋