People with credit card debt

Oh my!! I am gonna cry for joy right now!! I decided to ask for help with debt managment program and I can not believe how much this helps me out!!!!!
Credit cards are evil!!!!

I know the wedding and household stuff added up!! I could only make my minimum payment and it would get me no where. My friend used these people and her credit score went up so I just did it. The only thing is I had to close all credit cards except for 1, which is discover and not many places take it. Maybe it a good thing though

I just spoke to my friend about it cause someone just FM'd me about that and she said it made her score go up a lot. I guess it also depends on how much debt and cards you have.
The rate I was going though, there was no other way in fixing it but this way. I just wasn't getting ahead.
I did keep one card open and they make the monthly payments on the others, they dont just pay it off and close it. So that helps with the credit rating. The payments will be on time and they also lowered my APR.


I just found this on their site:

Can the DCC program affect my Credit Rating?
DCC does not report information to any credit agencies. If you are current with all of your bills and you have a satisfactory credit score, your rating should remain virtually unchanged. As long as you make your monthly payments to the Program on time, your payments to your creditors are considered to be on time as well. If your credit rating has been poor, once you join the Program, make timely monthly payments and reduce your debt more quickly, your credit worthiness will soon improve. Please refer to the website www.myfico.com for further information about how credit counseling programs are not considered when credit scores are calculated.

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Posted by Topher

Oh my!! I am gonna cry for joy right now!! I decided to ask for help with debt managment program and I can not believe how much this helps me out!!!!!
Credit cards are evil!!!!

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I did the same thing. I know my credit is frozen right now, but honestly it was the best decision I have made and it has literally taught me how to spend better.

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Posted by Topher

I just spoke to my friend about it cause someone just FM'd me about that and she said it made her score go up a lot. I guess it also depends on how much debt and cards you have.
The rate I was going though, there was no other way in fixing it but this way. I just wasn't getting ahead.
I did keep one card open and they make the monthly payments on the others, they dont just pay it off and close it. So that helps with the credit rating. The payments will be on time and they also lowered my APR.


I just found this on their site:

Can the DCC program affect my Credit Rating?
DCC does not report information to any credit agencies. If you are current with all of your bills and you have a satisfactory credit score, your rating should remain virtually unchanged. As long as you make your monthly payments to the Program on time, your payments to your creditors are considered to be on time as well. If your credit rating has been poor, once you join the Program, make timely monthly payments and reduce your debt more quickly, your credit worthiness will soon improve. Please refer to the website www.myfico.com for further information about how credit counseling programs are not considered when credit scores are calculated.

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I actually am on myfico.com, I use it monthly to monitor our credit. I really like it and it helps me see what our problem is.

please make sure you continue to make your minimum payments until you have heard from your creditors that they have accepted the companies proposals. many times the 1st payment that you make goes to the company as their commission, so you can fall delinquent on your cards in the first 30 days if you dont pay your minimums, and that will definitely hurt your credit.

i used to work for one of these companies in college, and someof them are not the most honest out there....gl!

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Posted by kslmbuggie

please make sure you continue to make your minimum payments until you have heard from your creditors that they have accepted the companies proposals. many times the 1st payment that you make goes to the company as their commission, so you can fall delinquent on your cards in the first 30 days if you dont pay your minimums, and that will definitely hurt your credit.

i used to work for one of these companies in college, and someof them are not the most honest out there....gl!

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I'm checking the cards online constantly.

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Posted by Saram

i had to join a debt management program a couple of years ago..it was the best thing i ever did..i just paid it all off yesterday..what a relief..and as far as it messing with your score..it looks better for u if u are taking a step to elminate debt instead of paying minimum payments and getting nowhere with your bills..good luck to u

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Congrats to you!!! Yes this is the best thing I did. Now I have extra $$ for x-mas!!

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Posted by JBoothIn2008

Topher - I was going to FM you but since other people might be interested I figure I'd ask you here. DH has a lot of cc issues. Can you tell me which company you worked with and what do they charge you? Is it a one time fee or a monthly charge? We dealt with one years ago that charged $50 a month and it was a lot I thought. (DH had his own biz at the time that was making no money so eventually he defaulted on that debt co too, but I would like to start working on this again. He hasn't paid any of the cards he owes in years, and it might be almost to the point where they write them off - he doesn't even know who he owes anymore or how much - but I'd love to know more!)

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I'm using CCCS and they charge $30 a month. I think the $30 is reasonable considering that they lowered my Mastercard from 26.99% to 10%.
I'm not sure if they can help with credit card accounts that have faulted. Mine were all active, but have been frozen until I am out of this Credit Counseling group. I'll be out of it once I get my taxes in February.

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Posted by SoonToBeMrsBrady

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Posted by JBoothIn2008

Topher - I was going to FM you but since other people might be interested I figure I'd ask you here. DH has a lot of cc issues. Can you tell me which company you worked with and what do they charge you? Is it a one time fee or a monthly charge? We dealt with one years ago that charged $50 a month and it was a lot I thought. (DH had his own biz at the time that was making no money so eventually he defaulted on that debt co too, but I would like to start working on this again. He hasn't paid any of the cards he owes in years, and it might be almost to the point where they write them off - he doesn't even know who he owes anymore or how much - but I'd love to know more!)

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I'm using CCCS and they charge $30 a month. I think the $30 is reasonable considering that they lowered my Mastercard from 26.99% to 10%.
I'm not sure if they can help with credit card accounts that have faulted. Mine were all active, but have been frozen until I am out of this Credit Counseling group. I'll be out of it once I get my taxes in February.

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Thanks - that is what DH thinks, that if he hasn't been paying them in years, the debt mgmt services can't help. And honestly, it's been 5 years for some - and I think once they hit 7 they can't call or try to collect anymore? He thinks it might be better just to let it go at this point and then start to rebuild his credit. No one's called in about a year -- so that may be a good sign ...

Thanks again and congrats to you on getting out of the hole come February.

Here is their link: DCC

The fee for me is $28 a month. Depends how many cards you have, I had 4 cards. You have to give them $50 to sign up but they refund that to you in 5mths.
They mailed me whole package on budget sheets and how to save $$$.