Have you heard of the National Debt Crisis Center? Who should I use to consildate my credit cards and pay the lowest amount?
I had not heard of the National Debt Crisis Center before I got your question. I assume you are talking about the folks at this site.
Maybe this is just an oversight on their part but the services page says:
Through our Personal Financial Analysis we can help you determine which program is best suited for your particular needs. We can then match you with an organization best suited to help you with your specific needs. The solutions that we can recommend
- Debt Consolidation
- Debt Settlement
- Mortgage/Foreclosure Assistance
- Budgeting Assistance
- Credit Counseling
- Financial Education
We recommend the best solution for your individual situation.
What struck me is that bankruptcy is not on that list. So does that mean they steer people away from bankruptcy and only into one of the listed solutions? If so, that’s a red flag for me.
I also used their online calculator and plugged in $25,000 in unsecured debt and below you can see the result of their online ‘Debt Analyzer’.
The results indicate the person would get out of debt in three years and save $44,000 interest and debt on a smaller payment with their program. That tells me the recommended solution is a debt settlement program and that’s another red flag for me.
Another concern is that the NDCC says it is a “national referral service” and “Debt repayment solutions are provided by licensed third party organizations.” So the NDCC is not who you’d actually work with.
Finally, I have an issue when a company does not publish where they are located. So I do have to give them a thumbs up for publishing their address on the site. Good for them. Thank you.
in my research they also appear to be a part of a company called CardEX America, Inc. They share the same address and the BBB report lists them with the same owner.
I followed the client login link and it led me to a company called GNUSA Marketing at the very same address as NDCC. GNUSA stands for Global Networking USA Marketing and they appear to be a backend servicer for the debt management industry.
I especially enjoyed the statement on their site: “The average retention rate is twenty four months, our retention rate is thirty nine months. Longer retention means more revenue for you.” It just supports my previous article on the success rates of credit counseling programs.
So I’m utterly confused about this company at this point. The calculator on the NDDC site indicates the solution they promote is a debt settlement program but their roots seem to be in managing debt management plans and they say they are a national referral service. Huh?
Hopefully someone from NDCC can post a comment helping to clarify all this for both of us.
So what is your situation? Are you barely getting by or just want to reduce your interest rate? Have you had a reduction in income, what’s pressing you to seek help right now?
Please update me on your progress by posting updates here in the comments section of your question. I’m very interested in how this works out for you.
You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.
P.S. Be sure to read ‘The Secret of Surviving Through Difficult Economic Times. What I Learned On My Journey‘.