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stupid stunt- need help please! sorry long
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Posted by What'd we do????
(12.25.245.218) on May 31, 2004 at 17:35:04:
Hello. Heres our situation and hopefully someone can help us!First off we are 32 and 36 and now know better1 Back in May of 2003 we decided, after trying to work with the creditors ourselves to no avail, that we would "join" one of those debt settlement companies. Now we see this as a very bad choice!!! Anyway, we were not behind on any of our cc's or rev. loan and we were getting "killed" by interest. I had one cc company drop interest to 13.49 % for ONE MONTH and then they jacked it back up to 19.99% (no payment was not late no reason given. Anyway we were having difficulty paying for groceries and our other bills (medical, lights, car, etc) and thought that these companies would work on an agreement of some sort, WRONG! So we join this company, a debt settlement company, that at the time had a sat. rating with the BBB, paid them nearly $2900 and got hosed. Pardon term. They only contacted providian and none of rest, well got validation of acct info on mbna but that was it. They "settled" for one company, small citibank acct, for more than what was originally owed! Guy just told me to pay the money and he didn't know where I'd get the rest but that is all he could do. We could of done better. So we go to our atty and ask for advice. He helps us get letter to debt settlement co. to withdraw us from their services. And he advises to do bankruptcy (don't like that word). We don't have the money for a $1000 fee up front to take care of all of it. I contact fccs, an org. we used AFTER already starting w/ debt settlement place for something else, and they give me quote of $357 twice a month, which can still be a bit difficult for us at times. I pulled our credit repts and all accts show charged off as bad debt with some amts of past due and other one shows written off as profit and loss (what does that mean?). Somewhere on here someone posted that charge off status occurs after 180 ? mos, ours was just 6 months, why the difference. These are citibank, prov., and mbna. Citibank is now being "represented" by Academy Collections and mbna by Wolpoff.
Ok here is a question- is there any possible way for us to contact citibank , prov., or mbna ourselves and make up some sort of agreement arrangements with them and have it done in writing and bypass the collection places? Would it be better to try to do just fccs (like cccs only better)? HELP we need real help!
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