I joined Nation Wide Consumer Debt Relief in order to get a lower interest rate on my accounts and get them paid off faster. NWCDR was to negotiate a lower interest rate with my creditors, draft my account each month and make the monthly payments for a fee of $49 a month for their services.
My account was drafted each month on the 16th. Several times during the contract period NWCDR would get behind and the creditors would start calling me about missed payments. I would have to call NWCDR and they said they would take care of it. After this happened several times, I asked what was going on, because the payments were taken out of my account on the same date each month, why were the monies not being applied to my account on time?
I was told they never knew if the payment went through or not, if it didnt it was held in an account until someone asked about it. This did not make sense to me. When I asked further as to why the accounts were not being paid, they said that the creditors kept changing their billing ID so the payments were not going through. I then called the creditors and they insured me they never change their billing ID.
I was charged late fees and penalties when these payments were late and after a time I was notified by the creditors that I had been dropped from their programs because of late payments. Therefore my interest rate went up and that is why I joined NWCDR in the first place, in order to get a lower interest rate.
To sum up my connection with NWCDR, I have had my interest rates raised, I have incurred late fees. I receive multiple calls each month from my creditors. I was paying NWCDR $49 a month for a service they did not provide effectively. I also wonder what this has done to my credit rating? I was not behind or had never received a phone call for missing payments before signing up with NWCDR.
As of today, NWCDR has paid the back payments bringing the accounts up to date. NWCDR still owes my IBC account $57.70. In Feb. of 2011, $140 was drafted from my account but only $55 was applied to my balance. The next month, April of 2011, they made a payment of $150.80 instead of the $140 monthly payment, an overpayment of $10.80. There was not a payment made in April. In May, they made a payment which was returned for insufficient funds. Then it was made again, but was another overpayment of $16.50. They paid $156.50 instead of the $140 monthly payment.
With all of this confusion of overpayments and underpayments, NWCDR still owes my IBC account $57.70, which the debited from my accounts. Also each time NWCDR was late making a payment, a $15 late fee was added to my account. A total of $165 in late fees were added to my account in 2010 and 2011. I do not feel I should be responsible for these late charges, when the amounts were drafted from my account on time each month. My Sears account has accumulated $64 in late fees. And NW still owes my Bank of America account $11. They were behind and made three payments at one time in the amount of $133. The monthly payments were $48 so three payments should have been a total of $144.
I do not feel my accounts were handled in a business like or professional way, especially when I was paying a monthly fee for their services. NWCDR argues that the balances have come down since I started with them in April of 2008. But that is not all they agreed to when we signed the contract.
In June of 2011 I stopped all payments being drafted from my account as Nation Wide Consumer Debt Relief could not make the monthly payments on time.
All back payments are caught up now except for $57.50 to one account and $11 to another and two hundred $229 in late fees incurred by NW because my account was debited each month on time. It is their companies fault the payment was late. Each time I called about this, NW assured me the late charges would be taken care of, not one late fee was ever corrected, paid or compensated in any way.
This is what is still owed to me: IBC account $57.70 plus $165. in late fees. Sears account $64.00 in late fees. Bank of America account $11. I also feel that the $49 I was paying them a month should be returned to me for failure to honor the terms of the contract.