I am in the process of working with Credit Solutions. It has been a year and basically we pay them $150 a month for nothing. They advise you to not pay your bills for 3 months so you look like you need assistance. The claim they will cut your debt in half but it is basically right back to were it was before I allowed it to accumulate all the late and finance charges. We took there advice and put money away, called them to say we were ready to make an offer and they told us the credit card company said it wasn't enough. But we were at the original amount. Now I feel stuck with this company that isn't helping us in anyway. They don't pay it for you and allow you to make payments. You have to come up with a huge lump sum which is hard to do when you have to continue to pay them monthly. I wouldn't do it again.
wow, that stinks, that is a lot of money to give away monthly if they are not helping you. Do you have a copy of the contract so that you can look for any breaches to try and get your money back? Sounds like they don't have very good negotiating skills for their clients.
Subject: Has any one heard of a company called CREDIT SOLUTIONS???
Tue Jul 20, 2010 11:59 pm
After looking them up through the BBB website today, I discovered they were not an accredited business. After reading prior entries, this is a settlement organization. Unless you are not concerned about your credit score and want to receive calls from collection agencies, then perhaps they are good for you.
However; if you want things to improve, then do some research on the non-profit organizations that will assist you in paying down your balances in full. Again its all about the research and starting with the BBB website. If you know of anyone who has utilized other non-profit organizations to help them, seek their input for the experience they encountered while going through the process of paying down their debt.
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.