Need Suggestion about Debt Management

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advisoryline

Joined: 11 Aug 2009
advisoryline's page
Posts: 3

144 Magic Points

Subject: Need Suggestion about Debt Management

Mon Aug 24, 2009 11:16 am

Will I have to disburse a payment to start my debt management plan?
I think several companies charge fees to start your plan and receive commissions beginning your payments.
Please share you opinion here…

fireyone

Joined: 26 Feb 2008
fireyone's page
Posts: 4285

140 Magic Points

Mon Aug 24, 2009 1:22 pm

advisoryline,

Hello and welcome. Most debt companies will have you make a payment before starting. Some companies are different so you would have to call an inquire with the company you are wanting to work with. I would like to advise you to use caution when choosing a company. Do your homework. Check out the internet to see how people rate this company you chose. You can also check them out at the Better Business Bureau web site. This web site can really be useful when looking for a reputable company.

carol

Joined: 27 Jun 2006
carol's page
Posts: 1307
Location: Los Angeles, California

29565 Magic Points

Tue Aug 25, 2009 11:53 am

Hi advisoryline

If you enroll in to a debt management plan with a company first ask them to give you a detailed description of how they plan to manage your debt. Let them show you how much money they plan to pay to which creditor each month and how much money you may need to pay towards your debts each month. Ask them for details of what they are charging as fees and what they will be paying to your creditors. It is your money advisoryline and you need to be aware of things. It is a good thing that you are willing to pay but you must not completely leave it to them. Be involved with the plan.
_________________
Keep in touch
Carol

Chelsi
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Subject: PoIaAEDtJvR

Sun May 22, 2011 3:49 pm

Glad I've fnilaly found something I agree with!

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* Disclosures:

Your personal details (name, email address and phone number) will be delivered to the company advertised on the Creditmagic after ve agreed to go for the counseling session by filling out the no-obligation form. However, it is your discretion to accept or reject their services.
Not all the creditors/debt collectors agree to trim down the outstanding balances, interests, and fees payable by the consumer.
Consumers working with the debt relief companies can still be sued by the creditors/collection agencies.
Debt relief services may have a diminishing effect on the creditworthiness of the consumer. The total outstanding balance may increase as the additional fees get accrued.
The overall amount saved by the consumer through the debt relief services is considered as taxable income by the IRS.