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C_U_Next_Tuesday · 07-18-2004, 01:39 PM

Hubby and I decided to use one of these places that consolidate all your credit card bills. It looked damn good on paper and we thought at the end of three years that we would have these high interest rate CC's paid off..

our beginning debt was around $15,000 (maybe under a bit..but not sure)

after 20 months of paying these fuckers..$400 a month, we are now down to $13,500....The company actually thought I would swallow this bullshit.

Some of the credit cards had higher balances than when we handed them over to them. They have only got one of the origional 8 down by $600..the rest are at the same balance

one in particular is $1000 over the limit.

They dropped one because their computer program told them it was paid off.... I checked and it was at $260 because of all the late fees..grrrrrr

They kept telling us that all those late fees that acquired when they first started would be dropped. Seems all I have been paying is the late fees from when we first started with them.. which I wouldnt have if I would have kept paying the bills.

If i start paying the credit cards now.. I am afraid there will be even higher balances because they have a stupid contract with this debt reduction company to jack our shit back up if we go back to taking control ourselves.
This also looks like a bankruptcy on your credit report..but they don't tell you this

Has anyone else had a problem with these companies.. anyone had a success stories with these companies?

I've got to regain my composure before I deal with them Monday morning.. I already came unglued in the office once..

07-18-2004, 01:39 PM
C_U_Next_Tuesday WW4L Join Date: Oct 2002 Location: over the river and through the woods Posts: 10,581	Anyone ever use Debt reduction sevices? Hubby and I decided to use one of these places that consolidate all your credit card bills. It looked damn good on paper and we thought at the end of three years that we would have these high interest rate CC's paid off.. our beginning debt was around $15,000 (maybe under a bit..but not sure) after 20 months of paying these fuckers..$400 a month, we are now down to $13,500....The company actually thought I would swallow this bullshit. Some of the credit cards had higher balances than when we handed them over to them. They have only got one of the origional 8 down by $600..the rest are at the same balance one in particular is $1000 over the limit. They dropped one because their computer program told them it was paid off.... I checked and it was at $260 because of all the late fees..grrrrrr They kept telling us that all those late fees that acquired when they first started would be dropped. Seems all I have been paying is the late fees from when we first started with them.. which I wouldnt have if I would have kept paying the bills. If i start paying the credit cards now.. I am afraid there will be even higher balances because they have a stupid contract with this debt reduction company to jack our shit back up if we go back to taking control ourselves. This also looks like a bankruptcy on your credit report..but they don't tell you this Has anyone else had a problem with these companies.. anyone had a success stories with these companies? I've got to regain my composure before I deal with them Monday morning.. I already came unglued in the office once..