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Has anyone used Cure A Debt (debt settlement company)?
Question : Has anyone used Cure A Debt (debt settlement company)?
I have done a ton or research the past few months on how to get out of Credit Card debt. I have researched so many different companies & the only one that has an A+ with the BBB and is registered with TASC is CureaDebt. They are not making any promises and have been honest with me about my tax liability if the debt is reduced. However, they do charge a lot of money! Has anyone out there worked with them? And, if you have something negative to say about me getting myself into this mess – please keep your thoughts to yourself. You don’t know the whole story so please don’t take me there:). I realize that this is my own fault but it’s no ones place to judge me.
do it yourself debt settlement
Best answer:
Answer by Judy
Debt settlement/debt negotiation companies have a bad reputation.
google the name of your complaint
Cure A Debt is a relatively new company, so they may not have any yet.
This is how they work. They tell you to ignore your bills and they will take care of them. They will not pay your bills for a while.
The thinking is that the credit card companies will get scared and settle. Some do, some dont. Meantime, you are getting interest charges and late fees added to your account. You could end up in court anyway.
Most stories are nighmare stories. Since cc companies are unwilling to settle during these times.
Please make sure the company has been in business for more than a year. I don’t think Cure A Debt has.
I would go to your local consumer credit councelling and let them take over. They tell you what to do and how to negotiate. There is also a book at the bookstores called credit repair for dummies that teaches you how to deal with them.
You can do this yourself, without paying that company huge fees, for no guarantees that you will stay out of having your wages garnished.
PS: I could not even find a web page for them. Is that how new they are?
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#2 written by mjghunter 1 year ago
You don’t need them. They take your money just like the credit card companies. First,stop using the cards and creating dept. Second, set a budget. Third, take the budget you set and tighten it up as much as humanly possible. Fourth, track you spending(everything). Fifth, Start NOW. Sixth, list all of you depts (not utilities). Divide the amount owed by the payment. This will set a priority for pay off. Take the divided answer and list it with the dept in order from lowest to highest. Use any money left over from the budget to pay on the first dept. Pay only min. on all of the others. Once the first payment is gone, use the min payment that you saved and your budget money to add to the next dept payment. Keep rolling the amounts until everything including you home is paid off. I am currently in the beginning of the third year of my plan and have paid off over $ 32,000.00 in credit card dept alone. and now I am working on the car, then the truck, then the house. You have to quit making depts or it will not work. Cut up the cards and never use them again for anything you don’t need them.
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Like almost all of those cure your debt companies, you take a chance of only getting deeper in debt and having your credit report damaged.
Here is what you must look for before agreeing to utilize any company:
By law, credit repair organizations must give you a copy of the “Consumer Credit File Rights Under State and Federal Law” before you sign a contract. They also must give you a written contract that spells out your rights and obligations. Read these documents before signing the contract. The law contains specific consumer protections. For example, a credit repair company cannot:
Make false claims about their services
Charge you until they have completed the promised services
Perform any services until they have your signature on a written contract and have completed a three-day waiting period. During this time, you can cancel the contract without paying any fees.
Your contract must specify:
the total cost of the services
a detailed description of the services to be performed
how long it will take to achieve the results
any “guarantees” they offer
the company’s name and business address
If you’ve had a problem with any of the scams described here, contact your local consumer protection agency, state Attorney General (AG), or Better Business Bureau. Many AGs have toll-free consumer hotlines. Check with your local directory assistance.
Hope this helps answer your question