Christian Debt Management Did not lower my interest rates, refused refund of $771 initial payment Boca Raton Florida

I had two debts I was trying to get a lower interest rate on, a credit card and an unsecured loan. Nationwide Consumer Credit Services (NCCS) took over my account in October from Christian Debt Management. A fee of $771 was assessed to be held in escrow until completion of the program, then would be refunded or used as the last payment.

Another $771 was withdrawn on 3 Nov 2003, and payment was made on both accounts on 3 Nov 2003 (There is a $49 "contribution" included in the $771 each month). When I reviewed my statement, and later confirmed with my bank, there was no reduction in interest rate, my bank doesn't negotiate lower rates.

I logged into the NCCS website reserved for clients and checked my account. It showed my accounts would be paid off within 36 months (I have a screen shot of this). I called NCCS (several times) and finally, the counselor said that they were unable to negotiate any lower interest rate. They did lower my credit card payment (an option the bank had offered me), but this would increase the payoff time by approximately 2.5 years.

I cancelled participation in the program because I would have to pay the $49 monthly "contribution", $588 annually, for approximately 5.5 years. I was finally able to get the account cancelled. After multiple calls and eventually filling a complaint with the BBB, NCCS returned my call and said it was up to Christian Debt Management to return my money since they were the ones that collected it.

I called Christian Debt Management, they absolutely refuse to refund my initial payment of $771 (held in escrow), because I failed to complete the program. I have explained, in great detail, the circumstances a multitude of times, but because I "signed a contract" they won't budge.

They now told me that the program can take between 3 - 6 months to get the interest rate lowered. I advised them that the contract they were holding me to doesn't state that.

I have spent countless hours pleading my cause with these people. I have a pending BBB complaint (Christian Debt Management sent a letter saying they were sorry for any inconvience . . . still not giving my money back).

I then called Consumer Advocate Clark Howard, who was able to get me in contact with a higher level (I assume) within Christian Debt Management, Ms. X (name withheld - unsure of legalities involved).

I spoke with Ms. X on 13 Jan 2004 at approximately 4:00 P.M. She asked if I had read the agreement, I said I did, but, there was no interest rate reduction. I told her that the www.christiandebtmanagement.com website stated they "WILL" reduce or eliminate high interest rates.

She told me that I didn't give the program a chance to work, that I should have waited at least 3 months (after the call I confirmed that no where in the contract does it state that I have to wait 3 months for the program to kick in). I told her that the credit union didn't negotiate lower interest rates.

She went into great detail to explain that all credit unions say that. I told her I received that information from the NCCS Counselor. She said she had some sheets that showed what Credit Unions will negotiate down to, and put me on hold.

She came back stating that "ALL credit unions will reduce the interest rate by 25%. I told her according to the NCCS credit counselor, they don't. I asked her if she would call my credit union and confirm what I had been told; she said "she didn't have to". I asked why not, she said, "Because it says they will reduce the interest rates on my sheets". I told her that I could write anything on a sheet of paper, but it didn't make it so.

She told me my account was already turned over to NCCS; I needed to talk to them. I explained that I did speak with them, and they told me the credit union didn't negotiate interest rates.

I asked again, why won't you call the credit union? She said, "You want me to work on this account?" I said, "Yes, could you just make a phone call". She again refused, so I asked her, "So, what your saying is that you absolutely refuse to call my Credit Union and ask whether or not they reduce interest rates". She said, "That's right". At that point the telephone conversation ended.

Debt Management companies are suppose to help the working folks, not take away their hard earned money. I just want them to do the "RIGHT" thing. I have all the documentation supporting what I've stated.

James
Belleville, Illinois
U.S.A.