desperate for advise
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desperate for advise
| Fri, 08-21-2009 - 7:48pm |
I am new to this group, but must say that you all sound like very caring people and I would love to hear from you as I am in a very serious situation regarding debt.

These companies are really thieves in some ways they take big fees and also they trash
I have been looking at every option to try and pay back my credit cards. What you did sounds like debt settlement negotiation. When I read their programs it sounded like a dream come true. But I never believe something that sounds too good to be true (accept apparently 0% interest on credit cards). I did some research on these companies and most of it was pretty bad. Even legitimate ones can create a lot of trouble for you including threats of lawsuits, etc.
First, go to the Federal Trade Commission (FTC) web site, all though there are no regulations on these companies the FTC is investigating them. There may be at least some good advice. Also, try the Better Business Bureau. Do your homework, find every bit of information on your company that you can.
Second, gather up your contract with them and read it thoroughly. Find if there is anyway to get out it. There are also low cost and free lawyers that may be willing to at least give a consulation. Especially if the contract isn't clear. Don't do anything until you are sure about your contract issues.
Third, contact everyone of your creditors and explain your situation. Be calm and nice and maybe they will work with you personally. They maybe nasty, too. But if the first person won't talk to you keep calling back until someone will. I'm doing this now and it's really hard and embarrassing, but I do a couple a day.
Fourth and for me the MOST IMPORTANT is find Debtor's Anonymous on the web. There are online groups and in person meetings and a lot of support and great information. Memembers are there for many reasons, not just compulsive shopping so be opened minded.
Unfortunately for most if not all of us it was way too easy to get ourselves in this situation. I am finding there is no easy way out, not even bankruptcy is as easy as it once was. CCCS would consolidate my debt for almost $1k a month, well if I had 1K for my credit cards alone I wouldn't be in need of help.
If at this point if it is too much then at least go to Debtor's Anonymous, they are a great support and will help you one day/step at a time.
Best of luck and know you're not alone.
Jill