Get Out of Debt Guy - Steve Rhode

Actify Solutions is a Credit Repair Company, Right?

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Question:

Dear Steve,

I’m in debt with credit card,and I was notified by Actify Credit Solutions, they want to repair my credit, should I trust this company?

I’ve tried talking to the credit card companies to lower my payment, by reducing my interest rate but they won’t do it.

Should I go ahead with this company called Actify Solutions. It’s a credit repair company?

Margaret

Answer:

Dear Margaret,

I’m stunned I’ve had a sudden rush of questions about Actify Solutions. I’d love to know how a company that claims it is just a “document preparation company” is claiming to be a credit repair company. That seems a lot like apples and oranges to me. – Source

Recently another reader asked me about the Actify Solutions debt relief program. This reader mentioned the representative at Actify Solutions allegedly said they could clear their debt and their credit. Maybe that’s where you are coming up with the credit repair service pitch?

You asked me if you should trust the company. I have no earthly idea if you should because I have no way of knowing what your requirement is for trust. I’d much rather see you check out a company yourself and reach your own opinion. I’ve published these guides below to help you do some homework and a bit of research on any company you are thinking of hiring.

Even in the list of services Actify Solutions says they deliver to consumers, credit repair isn’t on the list so I can’t imagine where that sales pitch is coming from. – Source

I’m a bit worried that you may be under the belief your credit card companies have any obligation to lower your interest rates. They don’t. They also don’t have any duty to lower your payment beyond what you contractually agreed to when you took out the credit.

There are certainly ways you can reduce what you have to repay to creditors. But almost all of those solutions have some negative credit impact. For example, bankruptcy is typically the least expensive and fastest way to eliminate your debt entirely in about 90 days. Settling your debt will cost you fees and will reduce your debt some but will also result in negative credit and maybe even a tax bill. Credit counseling may reduce your interest rates but don’t be surprised if your payment remains about the same and it takes you a number of years to pay.

I don’t care who the company is, there is no magic solution to dealing with problem debt that does not have consequences, except for paying your balances off in full.

I’d love to better understand what in the world the sales representative is telling you to try to get you to buy Actify Solutions credit repair services. What is the sales pitch? Please post your response in the comments down below.

Here is what I’m struggling with. Actify Solutions says repeatedly they are a document preparation company, not a debt relief company, not an advisor, not a credit repair company, etc. Companies that help consumers like yourself to prepare legal documents, exist. They gather information from the consumer and organize it in a standard legal document for submission. These are typically things like wills, divorce agreements, deeds, etc.

In the past there was a need for people known as legal document assistants, document technicians, legal document preparer, legal technician, legal document provider, and legal document clerk. But between the patchwork of state laws concerning these services and the advent of more free information online, it has become less clear why people need someone to prepare a document for them.

“As the preparation of legal documents becomes more and more computerized, the function of non-attorney document preparers has become less dependent upon the preparer’s individual skills, and more upon the quality of their software. By the same token, the continued increase of the availability of document software, legal aid websites, and the like, make it more and more likely that persons with some level of computer skills will be able to prepare and file legal documents without attorneys, and in fact, may not need even the limited assistance offered by LDAs, to prepare competent and quality legal documents.” – Source

I don’t even know what document you would need help to prepare to reduce your interest rates and repair your credit. There is no such form I am aware of unless you want to dispute incorrect information on your credit report, file for bankruptcy, or send a written debt settlement offer. Those are services that are offered by debt relief companies, not document preparation companies.

So what is Actify Solutions really?


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