Credit Answers Llc Scam
Posted on
May 19, 2010
at
4:26 am
hello, why is credit answers llc a scam?
Em Rep Points:
Posted on
May 19, 2010
at
6:21 am
credit answers llc a scam? - I'm not sure, I was reading parts of this thread, http://www.consumeraffairs.com/debt_counsel/credit_answers.html and it seems as if it's just a misunderstanding or lack of explanation on the part of the company ..
Posted on
May 19, 2010
at
6:26 am
credit answers llc a scam? - em, did you mean this? I agree, pretty standard. With most debt settlement programs, consumers might be or are going to be asked to stop all payments until the original creditor passes the account on to a collection agency - where settlement is possible. With original creditors, it's hard, although not impossible to settle. And it depends on the creditor...But it's still credit answers fault. After I stopped the payment, I contacted my creditors with my problem. I told them I was instructed not the answer any of their calls or letters. I was informed by Citi Cards that there was no way that they would deal with Credit Answers about my card debt. They would not ever talk to them. They said that after seven months the debt would be referred to a collection agency and then Credit Answers might deal. I was told that if I got extra money ahead of my payments, I could speed up the process to get my debts eliminated. No way could they have dealt with my creditors if I had sent in the money before seven month. They lied. The credit card companies are dealing with my situation and my credit doesn't have to go to a collector. My credit is not ruined and Credit Answers is not going to get the full 6000.00 for services not rendered.
Posted on
May 19, 2010
at
6:30 am
credit answers llc a scam?==Right, so just to add to clarify something, a typical professional debt settlement program requires for the client's account to be past due, as most creditors would not agree to settle for less than the full amount if the consumer displays the ability to stay current. If the consumer is still current and the total amount of debt is high, like $10 or above, he would be asked to stop payments for 5-6 months (the mandatory charge off) so the settlement company can finally negotiate with the third party collection agency that the account was assigned to. They would settle, because it's better to get something than nothing from that account.
Posted on
May 19, 2010
at
6:33 am
credit answers llc a scam?== right, so that one does sound more like incompetence on the part of the company, but this one doesn't. I was in serious credit card debt and heard Credit Answers, LLC commercial on the radio. I admit I didn't do any research on debt settlement companies, but I was desperate to find some relief from creditors calling me day and night. I spoke with a counselor on the phone and he set up my account, explaining that the montly charge was to pay for the initial service for several months and then part of the money was to be put aside in a savings account to use to pay off the creditors once the settlement had been made. They withdrew these monies directly from my checking account, the total coming to almost 4,000 and then they were taking out about 200 a month out and several times taking it out after I asked them not to which caused a shortfall in my account.
Posted on
May 19, 2010
at
6:36 am
credit answers llc a scam?== I agree with Stan. Legitimate debt settlement companies would not do that without the permission of the consumer. In fact, legitimate settlement companies would suggest for the consumer to deposit on a third party account manager, (like noteworld) rather than his own savings account - and if ever, after speaking with the creditor /collector, agree on something, ask the consumer to release funds for payment.
Posted on
May 19, 2010
at
6:46 am
The previous posts have somehow touched upon what to look for in a legitimate debt settlement company. After the question - is credit answers llc a scam? - the next relative one is, how to avoid scam debt settlement companies?
Posted on
May 19, 2010
at
6:48 am
how to avoid scam debt settlement companies? OR what to look for in a legitimatesettlement company, to avoid being scammed (?)
Em Rep Points:
Posted on
May 19, 2010
at
6:49 am
Right, and here's a guideline: -The settlement company's program must have a fast completion time. 12-36 months. -The program must be able to protect and improve the consumer's credit standing. -Must be a member of the Better Business Bureau, BBB, for at least 5 years. -Must also have a good standing with the Chamber of Commerce -A Member of TASC - The Association Of Settlement Companies and the IAPDA or the International Association of Professional Debt Arbitrators
Page: 1 2
|
