We Fell for the Bogus Government Program to Lower Our Debts. – Benj

“Dear Steve,

I really need help. My wife and I answered the mailer that you have on your site. Gov’t hardship program, blah blah blah. We have been trying for 3 years to get our cc companies to drop our interest rates. So here is this thing in the mail that says they can get it done, and in dramatic fashion and for a dramatic price. In my anger toward the cc companies I decided I would rather pay these people than pay more interest to the cc companies.

So I signed up yesterday. Then sleep on it and google it and came to your site. I emailed the sales guy and said I want it to stop and I want out. He tried to call me minutes later. Please tell me I didn’t just do the dumbest thing in the world, I’m usually smarter than this. It is the same letter you have scanned onto your site, VERY deceptive.

Our story, both lost our jobs in 09, the weekend of our wedding, 8 months pregnant. 3 months later we started our company on credit cards. May have been late on a payment or two, but NEVER missed one, they shot our APR to 27%. We have been trying to dig out ever since. We were $60k in the hole, we have since taken at least $20k off that total and transferred things around. Now we just have 13608 left on the high interest card that is now down to 24%.

Anyway, back to my problem. I have already signed up for this “program”, is there anyway to get out of it?



Dear Benj,

There is no magic way to deal with problem debt. It’s a matter of applying the right tool to achieve the result you hope to get with the circumstances at hand.

Can you get out? They should absolutely let you out if that’s what you want. What company is it?

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Let’s start with the basics.

I’d suggest you first read How to Get Out of Debt. The Honest and Unvarnished Truth and The Truth About The Success Rates, Failure Rates and Completion Rates of Credit Counseling, Debt Settlement, and Bankruptcy. They will give you a great overview of what we need to deal with to get you moving in the right direction.

Then use the free How to Get Out of Debt Calculator to review your options.

After that, come back here and comment about what seems to make the most sense and let’s discuss that.

Maybe the most logical approach at this point would be an unsecured debt consolidation loan through LendingClub.com.


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.
Damon Day - Pro Debt Coach

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