Complaint Review: Debt Relievers Credit Counceling - Boca Raton Florida
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- Author Not Confirmed
- Debt Relievers Credit Counceling 4770 NW Boca Raton Blvd. Suite B Boca Raton, Florida United States of America
- Phone:
- Web:
- Category: Credit & Debt Services
Debt Relievers Credit Counceling Christian Debt Managment Destroyed my credit and robbed me leaving me worse than original state Boca Raton, Florida
*Consumer Comment: Debt settlement and debt consolidation are two different things
*General Comment: They're crooks
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I had a handful of credit cards at the time of signing up for "Christian Debt managment" I was not late on payments had a credit line of 700+ but I was starting my own business and knew there were going to be added finances to manage;Therefore, I thought it would be a good idea to consolidate my current credit cards to lower the apr% and create automated lump sum each month to pay off my cards while handling new business finances. I then signed a six page or so contract with CDM which was supposed to be like a 3-5 yr. payoff of debt automatically of $400+ a month until it was all paid off. The initial question I had was after they told me my apr's were lowered, I spoke with my credit card companies and they haven't even recieved any info from CDM. Then apparently they use paper mail to send requests but I was supposedly signed up already. Eventually the card companies received info but for months which turned to years (1-1/2 to 2) the card companies were not receiving correct amounts. Many phone calls I made to the companies trying to understand the mis-handling of my money and CDM kept telling me everything is fine and it just takes time for all monies to get to said companies. I then consulted a lawyer with the issue and the entire contract and there was a clause that they were not liable for ruining credit history or damages... It wasn't until they breached the contract by withdrawing two months straight without my credit cards receiving any payment so I finally cancelled their services. I never consulted a lawyer after the breach because my credit was destroyed I was practically broke and didn't think I could afford a lawyer. I still carry the debt even more than when it started to this day. I do still have some info on them and an e-mail from one of there employees. I would like to recover damages from this so-called relief company
This report was posted on Ripoff Report on 10/09/2010 04:27 PM and is a permanent record located here: https://www.ripoffreport.com/reports/debt-relievers-credit-counceling/boca-raton-florida-/debt-relievers-credit-counceling-christian-debt-managment-destroyed-my-credit-and-robbed-m-649247. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content
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#2 Consumer Comment
Debt settlement and debt consolidation are two different things
AUTHOR: MovingForward - (United States of America)
SUBMITTED: Sunday, October 10, 2010
Debt consolidation means you 'borrow' the funds from one source to pay off all of your other debt. Some people consolidate only their unsecured debt, like credit card debt, into one payment. You have to have good credit generally to get a debt consolidation type loan or the interest rate will be very high. The funds are used to pay off everything but the one credit line and that payment is made monthly.
On the other hand, the way debt settlement co's operate, generally, is to have you: 1) sign a contract, 2) send $X to them monthly via auto draft 3) stop sending payments to your creditors. You are not "consolidating your debt" in the true sense of the word because the various lines of credit still exist, they are being paid (or not being paid) by a third party: the debt settlement company.
These steps alone will destroy your credit the moment you stop payment to the creditors. The debt settlement co charges you a fee to do something you can do yourself without any fees. Some of the debt settlement co's just take the fees and don't send in the payments to the creditors at all (scam). In fact, you can do a better job yourself AND not totally destroy your credit in the meantime.
Most creditors have hardship departments set up for you to make your own arrangements directly with the creditor. You have to make the effort to contact the hardship dept - and it is not always easy to get in touch with them as the CSR's make it difficult. However, it is worth the effort. Your interest rate is substantially reduced for the duration of the hardship, usually 1 yr to 5 yrs is a typical term. The interest rate is typically anywhere from zero to 6% so most of your payment actually is used to reduce the debt. In exchange for the good rate, the credit line is closed to further purchases. Not a bad deal if you really want to pay off your credit lines. Your credit will take a hit, but not nearly as bad as with a debt settlement co.
If you don't want to destroy your credit, you can also try the s****.>
#1 General Comment
They're crooks
AUTHOR: Jim - (U.S.A.)
SUBMITTED: Sunday, October 10, 2010
As a rule, unless it's a Church, any "Company" with Christian, Christ, or God in their name IS A THIEF.
These are the only ones needing to Make you "Trust" them.
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