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FINANCE.REALRESULT.US - FINANCE, PERSONAL FINANCE, YAHOO FINANCE, CAR FINANCE, LEGAL FINANCE, HOME FINANCE. - When the time is right (meaning your account is about to be charged off by the original creditor) they will take the money you have built up in your account and negotiate with the creditor to settle for this amount.
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| 03.09.2010 | 130 | 05:14:45 |
| Personal Finance In this way they tell you you will have paid off your account in six months or less and your credit will be fixed. Sound good to you? Run for the hills I say. |
| Yahoo Finance There are some problems here. Personal Finance. First of all what if the credit card company wont deal? What if the total of your minimum payments for an account is less than 10% of what you owe? Some credit card companies would rather take the tax write off then take so little money. |
| Car Finance In this case the debt negotiation company takes their fee (remember they are NOT nonprofit) your credit rating is ruined your account is charged off and possibly in collections and you have received no value for your money. What a deal! The company is hoping that if they offer 50% to the credit card companies they will take the money. Yahoo Finance. Problems with this logic: a) Most companies charge off your debt after 120180 days so having her take 24 months to collect enough money to settle is ludicrous. |
| Legal Finance This harebrained idea ensures that all of the accounts will go to collection. Her credit will be ruined. Car Finance. b) The lowest Ive heard that a credit card company will take is 50%. |
| Home Finance Usually theyll say that any lower and the tax write off is more profitable and they wont deal. Personal Finance. c) Presumably then the debt negotiation company will deal with the collection agencies. |
| Small Business Finance Wow what tough work! This is something that is pretty easy for anyone to do you dont need these guys handling it for you. I advise that you pull out immediately report these guys to the FTC and your state attorney general. Personal Finance. Send them a certified letter demanding her money back and make sure it shows that she is copying the FTC and your state attorney general. |
| Business Finance What does it say on her contract about early termination? She should at least be able to get her money out of her account and then she can use the money to pay off some of her debts. Personal Finance. I wouldnt hesitate in going to court over this if need be to recover money and other damages. |
| American General Finance Heres a good place to find an attorney: Consumer Credit Counseling Services Reader Feedback CCCS organizations tend to be more helpful and kind then the professional debt consolidation firms. Here is some reader feedback: I wanted to tell you that our experience with CCCS has been very positive. Personal Finance. Our counselor always takes our calls and if she isnt there at the time she always returns our calls. |
| Corporate Finance She seems very interested in how we our doing and sent us a card when our daughter was born. She is always kind and answers all of our questions. Other people we have talked to at CCCS have also been kind and helpful. Personal Finance. Our statements clearly show where every dollar is going. |
| Finance Jobs, Capital One Auto Finance One of the ways out of debt these days seems to be debt consolidation companies and these guys seem to be popping up everywhere. Personal Finance. How do they work and how reputable are they? Thats the question that came to mind when I received the following letter: I need to know how reputable and honest a company called AmeriDebt is. Car Finance. I got on a program with them and have been in trouble with my creditors because of a 30 day delay in negotiations ever since. Legal Finance. Im not sure what if anything they are doing for me. Personal Finance. Its hard to contact the people at their end and they rarely return calls. |
