Debt Elimination Experts - Page 2

Jaiden Eats At Mommy's · #11 10-28-2009, 05:54 PM

Amy, thank you so much for that. I think I am learning a lot from this thread when moreso I was concerned for my friend!

I remember working for a cellular company and my department ran credit as a side job to authorizing activations (can't activate without credit), but we often had to tell store employees their customer was turned down or had a deposit because of similar issues. You could hear the customer in the background flipping out that they were denied. I was unable to offer any reasons, but holy cow some of the collections and credit issues I saw were ridiculous for them to think they would even qualify in the first place! I gave a response back once as a $1000 deposit... store employee called me in a rage. When you have over $3000 in UTILITY collections then we don't want you as a customer without some love in return hah, employee asks customer "do you maybe have some collections" they go "no way, my credit is clean!" Psh.

AmytheLibrarian · #12 10-31-2009, 05:32 PM

Glad to help, Lisa.

That job was a real eye opener for me when it came to handling your finances properly at an early age. So many people would come in seeking a loan, you pull their credit, and they have paid NOTHING in their entire life. Really think I'm going to give you a loan and then call you every month to "remind" you to make a payment. Your finances not only effect you, but also your family. I remember trying to finance a burial/funeral one time. Mom passed away and had no money so the adult children had to scramble to find the cash to bury her. Their credit stunk, but my boss allowed 3k so she could be cremated. They couldn't afford the standard burial. I vowed that day I would never leave my family in that position.

wanderingquill · #13 10-31-2009, 09:58 PM

I am currently in a plan just like this, although I am going through a different firm. My monthly payment is indeed much lower than it would have been if I had combined my credit cards each month. (Foolishly, I had quite a few). I know that financial advisors such as Suze Orman and I suspect Dave Ramsey do not like these programs, but for me it was something that is easily manageable and affordable. As with everything, there are downfalls as well as some good that can come out of this. The cons are that your credit score will go down, but will eventually go up once these CC companies are paid. There are fees that must be paid to the firm, which I dislike but what can we do? The people I dealt with were friendly, helpful and I felt as if I had someone in my corner so to speak. Personally, I think it was wonderful once those calls stopped coming to my house and every few months I would have enough in my account to settle my bills for a fraction of what I owed. I am now down to one last credit card and anxiously awaiting getting this last bill paid off.

thriftymegan · #14 11-02-2009, 09:33 PM

I just looked this business up on the BBB and it has an "F" rating!!! Terrible.

http://www.bbb.org/dallas/business-r...as-tx-90026584

Jaiden Eats At Mommy's · #15 11-03-2009, 01:21 PM

Quote:

Originally Posted by thriftymegan

I just looked this business up on the BBB and it has an "F" rating!!! Terrible.

http://www.bbb.org/dallas/business-r...as-tx-90026584

LOL, no good! I thought she had told me it had good standing with BBB... eeee.

They've onky had 5 complaints lodged which isn't a TERRIBLE thing, but it's enough to make me think twice about using them.

Admin Nicole VA · #16 11-03-2009, 01:56 PM

And those BBB ratings are for a number of different complaints... The part that worries me the most is this:

"Government Actions
On May 20, 2009 the Texas Attorney General charged in the District Court of Travis County that F H Financial Services, a Dallas based debt settlement company, violated the Texas Deceptive Trade Practices Act.

The charge alleges that company web sites and company representatives overstate the success of the debt settlement program, misrepresent debt settlement alternatives, and falsely state the company has a good record with the Better Business Bureau to persuade consumers to pay a fee for debt settlement services.

The Attorney General asked for an order that requires F H Financial to discontinue the practices, restitution of money paid by consumers and civil penalties. This action is pending"

Jaiden Eats At Mommy's · #17 11-03-2009, 02:02 PM

Quote:

Originally Posted by Admin Nicole VA

And those BBB ratings are for a number of different complaints... The part that worries me the most is this:

"Government Actions
On May 20, 2009 the Texas Attorney General charged in the District Court of Travis County that F H Financial Services, a Dallas based debt settlement company, violated the Texas Deceptive Trade Practices Act.

The charge alleges that company web sites and company representatives overstate the success of the debt settlement program, misrepresent debt settlement alternatives, and falsely state the company has a good record with the Better Business Bureau to persuade consumers to pay a fee for debt settlement services.

The Attorney General asked for an order that requires F H Financial to discontinue the practices, restitution of money paid by consumers and civil penalties. This action is pending"

I just got done looking at that stuff. What a mess. I thought "5 ratings, not a TERRIBLE thing" but then that one...