“Dear Steve, I am currently under the CCCS and have been for 5 years now. Since I started my Debt Mangagement Plan, I have moved home on serveral occasions, therefore along the way my old bank (of which I have a a loan with), not being able to contact me. As far as I am aware, I emailed every one ... Read More »

“Dear Steve, I am a single Mother living on a income of $30000 a year. I have almost $40000 in credit card debt. I am currently paying $925 a month in rent and making the minimum monthly payments on each card/loan. What do you think I should do? I have contacted InCharge Credit Counseling and ClearPoint Debt Management and I ... Read More »

“Dear Steve, I RECEIVED A CALL FROM FINANICIAL FREEDOM WHICH TURNS OUT TO BE SOUTHEAST TRUST. I TALKED TO A MICHAEL LEWIS AND SIGNED UP FOR CREDIT CARD DEBT HELP. I CHECKED ON THE INTERNET TODAY APRIL 26,2012 AND SEE THAT I’VE BEEN SCAMED. IF I AUTHORIDZED PAYMENT ON THE PHONE CAN I REDO IT AT MY BANK BEFORE HE ... Read More »

“Dear Steve, Racked up credit card debt when I was young I have about $17,000 in credit card debt. I heard about Money Management International because Bank of America recommended them to me because I was trying to get my payments lower. Is this company legit? How bad will my credit drop? Dave” The Answer Dear Dave, Regardless of what ... Read More »

I read your article about incharge and accredited debt relief and i acutally have a time set up to speck with a guy named Ted at accredited. Can i send you a copy of the terms and see what you think. My husband and i are trying to determine if we should use them or do this on our own. ... Read More »

I currently owe about $21,000.00 between four credit cards. I called Cambridge Credit Counseling and they are able to set up a plan with two of the four. Of the two that they couldn’t do anything with, one is zero interest so they left it out and the other wouldn’t deal. They are able to substantially reduce my interest and ... Read More »

“Dear Steve, I recently signed up with MMI to lower high interest (29.9%) credit cards that my husband had. I was told that the initial fee for the month would be $50 plus $12, plus another $10 cushion. After that the $12 plus $10 per month would apply. They would then manange and disburse payments to the creditors. If they ... Read More »

I’m considering a Clearpoint DMP for credit card debt totaling $25,000. How can they do what I apparently cannot, have my creditors change interest calculations from compound to simple to fully amortize ‘the loan’ in 4 – 5 yrs? Why can I not do the same myself thus saving $40/mo. in client fees, approx. $2200 over the same term. Is ... Read More »

I am a bankruptcy attorney who frequently has clients who have been paying credit counseling companies obscene amounts without receiving any relief. Further, it seems these companies pick-and-choose the creditors to which they will remit payment. What, if any, financial affiliations do these companies have with the creditors? For example, does CESI have a financial incentive to pay one creditor ... Read More »

I WANT TO CHECK OUT A DEBT RELIEF COMPANY , NAMED “IN CHARGE .ORG. THEY QUOTED ME A SETTLEMENT OF $335.OO PER MONTH ON A 13,00.00 CREDIT CARD DEBT. THIS INCLUDES A 35.00 MONTHLY FEE. IS THIS REASONABLE? SIDNEY Read More »

I have some balances with Chase. A Chase representative called me when I missed a payment. I told him I have hardship and can not pay. He gave a number to MMI. I called and spent almost 2 hours on the phone with a very professional, trustworthy sounding individual who pulled my credit report and proposed a debt restructuring plan ... Read More »

After 20+ years of maintaining 720+ FICO scores, my wife and I ran up credit debt of about $15K back in 07 due to some health and employment issues , but this was manageable. We stopped using the cards, began giving them more than the minimum each month and took advantage of 1 year no-interest offers to reduce the balance ... Read More »

I have a 48,000 credit card debt and I am seriously thinking about enrolling in Money Mangagement International Debt Management program. I understand that I would be debt free in about 5 years. I am to make my monjthly deposits and they would represent me with my creditors. Are they completly legitimate? I am uneasy about this and any other ... Read More »

Five years after I lost my job, I find myself with $70k in consumer debt. I am paying approx. $2000 per month and am tracking and forcasting. My debt has changed very little in the eight months tracking due to some high interest rates. I have considered bankruptcy but want to try to dig out on my own. I am ... Read More »

“Dear Steve, I most recently lost my job, I had taken 5 payday loans and now i have nothing to pay them with. Worried I might be dragged to court because of this , I contacted Solid grounds and asked for help, they quoted me with the payment arrangement that will end in 9 months and that the very first ... Read More »