gc39
Full Member
Posts: 79
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Post by gc39 on Feb 20, 2010 15:27:14 GMT -5
has anyone used one on here. Good or bad stories? which companies have been tried?
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Post by huxbux on Feb 20, 2010 15:37:53 GMT -5
No personal experience, but as I understand it, they're all a rip-off.
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Post by diehard on Feb 20, 2010 21:34:23 GMT -5
i have been through 3 of them and they do help some. from my experience you would be better off trying to go without one though.
all they do is contact your creditors and try to negotiate a lowering of interest rate or offer to settle for a lesser amount if you are unable to keep your payments up. AND THEY CHARGE YOU FOR THIS ! UP FRONT !
you should try to contact them yourself and explain your situation and tell them you are unable to keep up current payments. they will usually work with you rather than have you default on a loan/credit card.
i am slowly digging my way out of a hole.among other debts i was 7 months behind on house payments and got a mortgage modification that lowered my payment from $800 to $600 month and dropped the interest to 4.5 % . i get to keep my house but it will cost more in the long run unless i pay extra on it when i can. bankruptcy was not an option as i would have lost the house either way chapter 7 or 11.
heres 2 debt places i tried if you want to go that way [look them up on GOOGLE]
CAMBRIDGE
CREDITANSWERS
GOOD LUCK !
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Post by retnuhreed on Feb 22, 2010 19:43:17 GMT -5
Dave Ramsey says to avoid them at all costs. Read The Total Money Makeover.
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Post by bradley300 on Feb 25, 2010 12:11:15 GMT -5
they dont have any more ability than you have on your own
def love the total money makeover, great book, its also on audiobook on itunes
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