mrbreeze Posted January 31, 2003 Report Share Posted January 31, 2003 I am considering going with the National Consumer Council to settle my Credit Card debt. At this point my Bills are higher than my income, so I feel I have no choice. I have investigated numerous programs and they seem the best. Any info would be appreciated. Thank You. Link to comment Share on other sites More sharing options...
bw4444 Posted January 31, 2003 Report Share Posted January 31, 2003 I've never heard of National Consumer Council. However, most members of this site will tell you not to use a credit repair service. There are several reasons: You can repair your credit better than they can. They cost you dearly. You pay them payments and when you've met their fee limit, they start paying creditors. Which brings me to the third point: Your credit card bills will go unpaid while the money you send them goes into their pockets. This is very negative. They claim to have special, inside deals with creditors. They don't. Not any more than you can get on your own.In short, credit repair agencies are a sham and a rip off. Read around this site a little and see. Look at the posts under this topic. Don't let them talk you into anything. Link to comment Share on other sites More sharing options...
mrbreeze Posted January 31, 2003 Author Report Share Posted January 31, 2003 Thanks for the info.....the reason I mentioned this company is they seem alot more reputable(if that's possible) than the others I've seen. I have seen their President on several News Programs and He apparently does alot of lobbying on Capitol Hill. Their website is thencc.org Link to comment Share on other sites More sharing options...
bw4444 Posted January 31, 2003 Report Share Posted January 31, 2003 Thanks for the link. Looks like an interesting org.No matter what, you are still your own best advocate in doing credit repair. Link to comment Share on other sites More sharing options...
Anonymous Posted May 2, 2003 Report Share Posted May 2, 2003 I wish I would have read this before signing up with the National Consumer Debt Council. It is true I am will be paying them about five thousand dollars before I am done for absolutely nothing. I did not know that I can negotiate directly with my creditors. As it turns out I can get the same settlements they can. And they get their money first while my credit continues to suffer. But because I signed up with NCDC I am legally obliged to pay them. So I am now paying my creditors directly and will have to continue to pay these people monthly because they took advantage of my ignorance. Link to comment Share on other sites More sharing options...
kb9tbq Posted May 16, 2003 Report Share Posted May 16, 2003 1. They claim to lower interest rate with the creditors.2. Creditor will show on credit report - that you are in counseling.3. Required to close the account with the creditor.They don't always accomplish negotiating the deals they claim. You have to call your creditors (to insure they did do just this).Very important to know what part of month they will send payments out - if they pay late with the creditor. It will Default the interest rate they negotiated for you.At the end of the program - what most people find is that literally still owe the same amount they started out with. Because all the payments went for interest & fees for default.If you use a company like this - definately get dual billing. So you can keep track of their progress.It just seems a shame to see; money thrown away for a start up fee (when it could be all the more money to pay on the bills).You should read a post in the artical of the week section. Posted by calawyer about these companies.If a creditor is willing to negotiate - you can ask for the same programs yourself. Like re-aging the account or hardship programs.Some will work with you; for the ones that don't then maybe a counseling company can accomplish what you could not. Just turn over the hard ones to them. But keep an eye on what they do!!!Also can suggest that you let the accounts go delinquent; then once turned over for collections - you may have negotiation power at this point. There are many options to work any given problem. Be sure to research all avenues before committing yourself to one plan. Link to comment Share on other sites More sharing options...
Recommended Posts