Archive for the ‘debt management counseling’ Category
http://www.falconcreditmanagement.com/debt-management
Debt Collection Lawsuit at Falcon Credit Management is one of a variety of debt management services we specialize in.
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FindLaw provides information on how to avoid credit counseling scams. URL: www.findlaw.com
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To explain: I have three credit cards with moderately high balances but extraordinarily high interest rates. On several occasions in the past, I have contacted the credit card companies and tried to get them to lower my interest rates, but they have always – ALWAYS – refused. Their explanation is always that 1) I have been late on payments in the past (and by late, I mean one day or maybe two at most) so they can’t do anything for me, 2) I’m considered a high risk (my FICO score is in the 600’s) and 3) Due to "recent changes in credit card legislation," the industry is not lowering interest rates and are in fact raising them. I don’t have any leverage to use against the credit card companies to try and strong-arm them, either.
Yet just this past week I talked to a Credit Counseling Firm who recommended I enroll in a debt management plan to get my CC debt under control, and this firm is able to get my interest rates reduced to far less than half of what my credit card companies were charging me.
Obivously, the debt management firm has tactics and advantages that I myself do not when it comes to dealing with the creditors, so this is NOT something I could have achieved on my own. Yet people continue to state that these firms don’t do anything that a consumer can’t do on his own.
What gives?
***I think I either need to clarify a bit, or people just aren’t reading the complete text of my question.
What I’m asking is, how is it possible that a credit counseling company could get my credit card companies to drop my interest rates AND accept smaller payments each month….when I myself have TRIED on my own repeatedly to get my credit card companies to do the same thing – but they will NOT do it for me?
That’s what I’m trying to understand. What is the credit counseling company doing that I’m not?
you gave up too soon.
i had 3 credit cards totaling £15k.
after loosing my job i couldn’t pay them so i contacted each company and requested they freeze the interest completely and work out a payment plan.
hsbc flat out refused several times but i did not give up.they eventually invited me to make a repayment offer which was a lot less then what i owed.
rbs were much more helpful (because of the gov bailout) they agreed to freeze the interest and accepted a token repayment of £1 per month.
you should really get independent advice rather then these debt companies as they are there to make money and will just increase your debt.
additional – they are not doing anything different. the cc companies are well aware that most people are ignorant to their own rules and WILL flat out lie to you.
every time you speak to these people note their name and position.talk to someone as high up as possible.
with the likes of HSBC you will just end up talking to a call center operator in india,these people do not have the ability to help.
look up all the phone numbers online and make sure you are talking to someone with the ability to help.
Mike Sullivan, Director of Education at Take Charge America, gives a brief rundown on credit scores and credit reports. In this video you will learn why credit scores are an important aspect of your financial wellness, and why it is important to periodically check your credit report. If you would like more information please visit www.TakeChargeAmerica.org.
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http://debtrelief911.com – Learn How to Eliminate Your credit card debts in 90 Days Without debt consolidation or Bankruptcy!
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http://www.InCharge.org – InCharge Debt Solutions is a nonprofit credit counseling agency that can help you find solutions to your debt problems.
Our certified counselors will help you find a solution, putting you back in charge of your life.
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Duration : 0:4:49
“The Mary Hanson Show” is the longest running cable program in the United States, having been on the air regularly since 1980. In this programme Mary interviews Darryl Dahlheimer from LSS Financial Counseling Services (www.lssmn.org/debt), who discusses debt management and how to live a more economical lifetsyle. The programme was recorded in November 2008 at MTN, Minneapolis.
Duration : 0:9:53
Christian Credit Counselors is a national non-profit association dedicated to helping consumers achieve financial wellness through counseling and education. Established in 1990, Christian Credit Counselors has helped over 2 million individuals achieve financial security. Christian Credit Counselors is one of the top members of the American Association of debt management Organizations (AADMO). They are also HUD approved, Fannie Mae Certified and a United Way partner. They manage clients across the country. Personalized and confidential consultations are available in person, by phone or online. Visit Christian Credit Counselors at www.ibudget.org or call 1-800-557-1985.
Duration : 0:3:0
I’ve paid my current car loan on time for the past 4 years. Last year i ran into to problems with my credit cards and consulted a debt counseling company and now i’m on a debt management program. Could at least qualify for 8%-9% interest rate?
How would we know?
We aren’t financing companies. Why would you think we are?
Only thing you can do, is go in, and see what rates they give you.
No sense in asking us though.