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MARRIP3 · May 23, 2007, 09:21 AM

I have quite a bit of credit card dept. Was in a dept settlement program, for not even a month. Got scared of being sued so went with a dept consolidation program. Do these programs work? They told me I wouldn't be sued taking this route instead.

Lowtax4eva · May 23, 2007, 10:07 AM

It's debt not dept.

And it depends, some programs will pay all your debts to the creditors and then you make payments only to them. Some programs take your payments and send them to the creditors but can get interest reduced to help you pay them faster.

It's best to ask the program people exactly what they do and if you are in danger of being sued once you sign with them

MARRIP3 · May 23, 2007, 10:19 AM

On this program that I am on. I make one payment to them and they send payments to the creditors. My question is I quess our the proposals usually accepted by the creditors.
I have only been in the program since April and they said they should hear back shortly it their proposal was accepted. I thought the actual payments they quoted me was set up by the creditors depending on the state you were in. My payment went up from my first consultation because they were going by the old quide lines. Another consalitaion company told me the payments would be the same no matter what company you go with since their pre set.

gazelleintense · May 23, 2007, 04:48 PM

most of the programs are scams and should be avoided... CCCS is the best if you must use one, but your credit will be ruined... as if you filed a chapt 13 bankruptcy..

ameridebt is the worse.

why would you pay a company to handle your finances and pay your bills? You can do that yourself and you don't have to pay anyone to do it.

long as your paying something it's unlikely you will get sued... be honest, communicate with the creditor... tell them you can pay x dollars a month, and pay it. On time.

I just heard a story a lady on such a program... for about a year... they sent this company $5,0000 and not one dollar went to debt.

FYNALEFREE · May 24, 2007, 02:07 PM

Well I don;'t know where everyone is but int the us you can have debt legally wiped away only once without adverse credit reporting problems, I went through a program that did this for me.

MARRIP3 · May 25, 2007, 04:10 AM

I Am In The Us What Type Of Program Did You Go Through?

slowandeasy · May 25, 2007, 08:25 AM

I have never heard of a program that will let you legally wipe out debt unless it is bankruptcy and that will stay on your credit report for a while 7 years I think

slowandeasy

FYNALEFREE · May 25, 2007, 08:52 AM

I went to Integrity Debt Options - Home and I disputed my debt with my creditors, mbna and citibank. I paid a fee on my credit card and then I stopped paying them after 2 months and then I sent letters to them disputing the debt based on several consumer protection laws and the debt is gone. I don't have any negative credit but I also don't have any credit cards I signed up for debit cards with visa logos through this company NAES. It helped me tremendously because 40,000 debt was killing my budget every month. I searched for help for 3 years and cccs wanted 1000 every two weeks to get rid of my debt and this worked better for me.

MARRIP3 · May 25, 2007, 08:59 AM

Thank You For The Information

slowandeasy · May 25, 2007, 09:31 AM

I am glad this worked for you. 40,000 was a lot of money! How much did you end up paying them in all? Have you checked your credit report to make sure it doesn't show up

FYNALEFREE · May 25, 2007, 10:38 AM

MY CREDIT SAYS PAID AS AGREED and I paid 3,495.00 once which includes credit repair I mean this it for me with credit cards I am teaching my kids how not to fall for the trap and he's 11 so hopefully it sticks. I am also using ADE automatic debt eliminator to get rid of my mortgages and car payments in 6 to 9 years instead of 10 to 30 years. The ADE is also at Integrity Debt Options - Home anthony saved my financial life.

jcs24ij · May 27, 2008, 01:23 PM

I am a paid customer of NAES, and am involved in a legal battle with MBNA. NAES has been providing support and documentation. I received notice of a hearing to occur on 6/6/2008, but when I went to forward the notice to NAES for assistance, I'm being told that they are no longer available. Does anyone have insight into this, and to what my options are? I need an answer quickly!

Thanks.

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