Quote:
Originally posted by NoCarrier
That's fucked up. But why didn't you cancel your credit cards once it was consolidated?
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canceling the cards does not take away the debt or finance charges. You still have to pay them. and they are all canceled btw.
Quote:
Originally posted by Peaches
What were your other options? Your credit was going to be ruined if you didn't pay the bills. Your credit was going to be ruined if you filed bankruptcy.
The contract will tell you how much they are golng to apply to the credit balances.
I do volunteer work with one of the consumer help programs here in Atlanta and these companies are one of our biggest "headaches". But mostly because people aren't reading what they're signing and don't understand how tney work  They are there to keep you from filing bankruptcy, lower your interest rates and hopefully keep you from getting into serious debt again.
There are VERY many that don't do what they'll TELL you they'll do, but IME, every single one of them has done what the contract said they would do A verbal agreement is worth the paper it's printed on.
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My credit was fne before I hooked up with these guys..I paid my bills and the cards were below their limit. we used them not because we were looking at financial ruin.. but to just cut those CCs up, get our interest lowered and get them paid off without spending on them ever again. Hubbys suggestion and doing.. I was the sceptical bitch in the office asking a million questions. out of the origional 8, they have only one that they got the interest rate lowered on . The other CC's are still up in the 20 's in the percentage range.