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Tag Archives: money management international

Should I Go With Money Money Management International or Bankruptcy? – Nathalie

“Dear Damon, I have a car payment, a high car insurance rate due to a recent accident and am paying the bare minimum on the $33000 that I have in credit card debt. After taxes, I take home $32000 a year. I called Citibank to ask if they would lower my interest rate and they suggested I contact Money Management ... Read More »

    Will Going With Money Management International Lead to a Tax Liability? – Le Anna

    “Dear Damon, So I am checking out using MMI Money Management International… If you pay this off before the designated years can you at that point just start re-establishing credit? There is also something about a tax forgiveness… do you know about this? Thank you Le Anna” Hello Le Anna, If you are looking at MMI, then I assume you ... Read More »

      Non-Profit Credit Counselor CEOs Making Big Bucks

      NP Comp

      Thanks to a tipster (send in your tips here) I was directed to an article that appeared recently titled Non-profit credit advisers cash in; CEOs earn big as consumers struggle. The article does make some interesting observations that some of the larger non-profit credit counseling groups do pay their CEOs a tremendous amount of money in compensation. “Of the 44 ... Read More »

        Credit Counseling Groups in the Crosshairs With Pay For Performance History

        This comes straight from a tipster (send in your tips here) who directed me to the site of Cotchett, Pitre & McCarthy. I reached out to CPM for additional information but as of the time of publication I had not heard back. Cotchett, Pitre & McCarthy is continuing its investigation into fraudulent “debt counseling” and debt collections in the subprime ... Read More »

          Considering MMI Program But Not Sure. – Christy

          Ready to Collapse

          Considering MMI program to pay of my debt. I was out on disability for about 10 months and had to use my credit card to make ends meet. I made 1 late credit card payment which then cause my interest to go up to 30%. I was paying more than minimal payment every month hoping to see the balance go ... Read More »

            Money Management International – Scam, Complaint, Review, or Praise?

            Ready to Collapse

            Please share your experience with this debt relief company and provide your review and feedback, in the comments section below. The goal of this page is to allow people to share information that may be important to help others to make a more informed decision regarding their experience with this debt relief company. Here are some potential questions you might ... Read More »

              Money Management International Settles Case for $6.5 Million to Avoid Allegations of Improper Credit Repair Services

              I just had a long conversation with an inside party that told me about a massive settlement by the credit counseling company Money Management International to avoid further involvement in a suit that alleged they engaged in improper credit repair services through their debt management plans. This case seems to clearly go hand-in-hand with a recent ruling that could expose ... Read More »

                I Emptied Out My 401(k) to Make Credit Card Payments But I’m Still in Trouble. – Beth

                Ready to Collapse

                “Dear Steve, HELP! Over the last 6 years I have been accuring debt often times, making just above minimum payments on my credit cards. I obtained more credit in order to make balance transfer, pay for graduate course work and of course irresponsible spending. Now I have maxed out six credit cards totaling in almost $44,000. I emptied my 401K ... Read More »

                  Should We Be Looking More at Bankruptcy? – Kirby

                  Ready to Collapse

                  “Dear Steve, Looking back, I see that while I thought I had a decent budget in place, I was not budgeting correctly. I did not have money set aside for simple things like new shoes or car maintenance. Whenever an unexpected expense came up, I just put it on the credit card and didn’t worry about it much. Everything was ... Read More »

                    Will Going With MMI Hurt My Credit? – Jane

                    Ready to Collapse

                    “Dear Steve, I got laid off in January of 2009 and fell way behind in my credit card payments, I found a job in November 2009 and am currently working but my boyfriend, who I have a dependent with, lost his job in May 2009 and is still unemployed. I am making all the household payments, rent, and car payments ... Read More »

                      Debt Settlement Companies Being Investigated by State of Kansas

                      Kansas is cracking down on the sales and service of debt settlement services. While tight lipped about who they are specifically investigating, Kevin Glendening, the Deputy Banking Director, has confirmed his office is investigating debt settlement companies. Glendening says, “Companies that I think consumers should avoid are a lot of the ones that you see advertised on the late night ... Read More »

                        I Can’t Afford My Money Management International Payment. – Ro

                        Ready to Collapse

                        “Dear Steve, I have been enrolloed in the program for about one year and have been current with payment thus far. However, my early income has not been reduced by 60% and am concerned about keeping up with the monthly payments in addition to all of my other living expenses. Not sure it can be done. What are my options? ... Read More »

                          Should I Go With the Money Management International Program or Bankruptcy? – Tom

                          Ready to Collapse

                          “Dear Steve, Self employed. Lost 50% of income and owe $42,000 in credit card debt. MMI (Money Management International) says I qualify for their program and estimate a monthly payment of about $900. With business so unpredictable I am hesitant to start with them as the very first payment will be a stretch. Gut feeling is it will fail and ... Read More »

                            Kentucky Signs Into Law New Tough Debt Adjusting Law That Regulates Debt Settlement Companies and Others

                            Kentucky Debt Adjusting Fees

                            I’ll admit I’m a bit late with this news but on April 13, 2010 Kentucky signed into law a new tough set of rules that regulate credit counseling, debt settlement and foreclosure assistance. FRANKFORT, Ky. — Gov. Steve Beshear was joined today by Kentucky Attorney General Jack Conway as he signed into law HB 166, a consumer protection bill that ... Read More »

                              I Owe American Express and I Am About to Start a Debt Repayment Plan With Money Management International. – Shelley

                              Ready to Collapse

                              Shelley “Dear Steve, I have about $26,000 in credit card debt and am about to start a plan with Money Management International. The question I have is about the American Express account, which is about $12,000. Over the last year, iIt has bounced from 2 collection agencies to a law firm, Mann-Bracken. I am never able to make the $300 ... Read More »

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