I received a mail invitation from fresh start company.
I called and they told me about their debt consolidation program and I got to choose which credit card I wanted to include in the program. So it came out to 300 a month for 36 months to pay off the cards. Which would save me more than half of what I was paying on them now.
Is this to good to be true or is this a legitimate offer. I have stopped paying some of the cards in anticipation of signing up for this program.
Is there a legit company that you recommend? Also, they wouldn’t email me the contract until I agreed to sign up they said we would go over it together since it was 17 pages and confusing.
I’m not sure which specific company you are talking about.
But here are a few things to consider.
It doesn’t sound like you’ve considered a particular plan to accomplish your financial goals now and moving forward.
Instead, it sounds more like a salesperson told you about an attractive program where you could put some cards in the program but not others. Picking and choosing indiscriminately is not the best approach. A financial solution should be based on an overall plan that factors in your current situation, financial foundation, and goals.
Simply cutting your payment in half may not be the right solution. Especially if it requires you to default on some of your debt. Defaulting will negatively impact your credit, increase your rates and fees, and cause a limit reduction on your remaining cards.
I always shrug when people ask for a “legit company” because terms like legit and scam mean so many different things to people.
However, I do encourage people to do some homework and review all the major options before leaping at any solution. You can find the primary solutions by using my Get Out of Debt Calculator or by reading my free guides below.
- The Ultimate Consumer Guide to Checking Out a Debt Relief Company Before You Sign On the Line
- 10 Must Do Steps to Find the Best Credit Counseling or Debt Settlement Company for You
- How to Check Out a Business or Company to Avoid Getting Scammed or Ripped Off
The most alarming part of your question is when the company won’t send you the client agreement before you agree to enroll. Why would they pressure you like this?
If the agreement is “confusing” then that is all the more reason why you should take time to read through the agreement so you know exactly what you are singing up for.