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Debt Relief – Insolvency – Bankruptcy Information » Credit Card Consolidation » Who are the credit card debt consolidation groups that reputable and don’t rip you off? One that can help me?

Who are the credit card debt consolidation groups that reputable and don’t rip you off? One that can help me?

I’m in deep credit card debt and I think the only way I can get help is through one of these programs. I heard Credit Card Advocate is a helpful one. Please let me if anybody has tried these and did it help?


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7 Responses to "Who are the credit card debt consolidation groups that reputable and don’t rip you off? One that can help me?"

  1. Judy says:
    Google the name of that company followed by the word(s): complaint, scam or rip-off.
    It will make your head spin.
    Most people wish they would have just done it on their own, without paying thousands to that company in profits.

    They let your bills go unpaid to scare the creditors.
    In the meantime, you are racking up interest, and late payment fees.
    This destroys your credit.
    About half of the creditors refuse to settle, and you end up in court anyway.
    These resolution companies offer no guarantees whatsoever.

    There is nothing these companies can do that you can’t do yourself.
    Get a good book at your bookstore called Credit / Debt Repair in the finance section.
    You can settle, negotiate, reduce interest rates, and do the “pay on delete” correctly.
    A good book will be worth it’s weight in gold.

    There is also a true non-profit organization set up by the feds.
    National Foundation for Consumer Credit Councelling.
    Go to their Website and make an appointment.
    There is a max monthly charge of about $25.
    You’ll take all your cards to them, cut them up and they take it from there.

  2. drive_55_not says:
    Credit Card Advocate is a Debt Management Program, Whether or not they can help you depends on if your credit card lender works with them to setup a DMP and if you have enough income to pay into the plan,,,

    The way they work is,, If you’ve got 20,000 worth of credit card debt, you’ll probably have to make a $400 a month payment for 60-months,,,

    You’d need to contact them to see.

    Stay away from the debt elimination companies, they are total scams,,

  3. Mo says:
    Have you tried calling all your creditors & asked about working out a payment plan? They will likely close all your cards, they *may* stop any more interest added, and between you and each creditor, you can come to a compromise on a fair monthly repayment plan.

    I wouldn’t pay someone else to do something you can likely do yourself….or at least TRY to do yourself.

    It’s always best if you can keep your financial affairs in your own hands.

  4. victor c says:
    There are many reputable debt consolidation groups. Essentially, they are non-profit consumer credit counseling services. But if you have exorbitant debt, the question you should be asking isn’t “are they reputable” but rather, “will they be able to help me get out of debt?” If you’re considering debt consolidation, according to this blog: your chances may be slim.

    Also read the following caption from the website:

    “Despite all of its hype, people should avoid Credit Counseling based on its hideous track record. According to a Consumer Reports survey, Credit Counseling DMPs have a 70% dropout rate! A reason for the high dropout rate is that the Credit Counselors can only negotiate with your creditors a basic reduction of your interest rates. The average interest rate reduction is 6%, which generally provides people inadequate debt relief. Thus, a Credit Counseling alternative should be considered, especially if you have a financial hardship and excessive high-interest debt.

    Although credit counselors claim they can cut a consumer’s minimum payment by 50%, the typical reduction is a discouraging 10-20%. In fact, most consumers drop out in the halfway point of a DMP due to unsatisfactory reductions produced to their debt balances. People also drop out because of the unbearable monthly payments, which aren’t much lower than the minimum payments that they fought to make. The strict debt management plans will also terminate any consumer who violates their agreements by missing a monthly payment.”

    In closing, if you need aggressive debt reduction, a company like Debt Free League may be a better option. To compare your options, I suggest calling them for a free quote at 800 213 9968. They are totally legit. You can Google them and see for yourself.

  5. Joseph says:
    Hailesel, the first step is to do research to find the best method of getting out of debt. There are several methods to choose from. After you do your research, I suggest that you choose a company that is licensed by a state government agency (not a city license, as almost any business can obtain one) to perform debt consolidation or debt negotiation.

    Also, check with the Better Business Bureau to make sure the company that you are considering doesn’t have any unresolved complaints against them. In addition, make sure that the prospective company is bonded. This will protect you in the unfortunate event that the company you hired doesn’t take your money without performing the agreed upon services.

    In addition, make sure you get everything in writing. Many people will tell you what you want to hear over the phone, and then you find out later that what they promised you doesn’t match what’s written in the contract. Never accept a verbal promise. Last, you can check the “rip-off” report of a company in any major search engine.

    If you want more information regarding the most effective method of eliminating your debt and how to get out of debt the fastest way, you can visit:

    I hope this information helps you. Good luck!

  6. Peter says:
    Hello my rastafarian friend!

    CC Advocate has some good reviews.
    It certainly helps, you just need to be aware that you still have debts, and not to get into new ones even if you seem relieved from all the pressure of multiple companies trying to charge you.
    A personalized plan is your best shot, you can get it for free online.
    I provide some links below.

    good luck!

  7. Russell B says:
    I had tried with and it helped me. May be this could be of some help to you.

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