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Credit Relief Today offering negotiated down debt relief resulting in what they say is at least 50% of your debt being erased. They said there is a 10% fee of original balance and your fico could drop significantly. They went on to say that if you owe more than 30% of your balances, that your fico will begin to drop anyway. Anybody have any educated experience with a relief program like this?
yes, they are a fraud….don’t use them.
I have used Credit Relief today and they saved me a fortune. They got me a settlement of 20 cents to the dollar for my debt and my credit score was well into the 700′s by the time I was out of the program. I tried to settle myself but there is no way I’d get the deal they got me. They brought me peace and that is priceless.
Сredit repair workеd fine to fix my credit. They disputed and removed lots of bad items from my credit report. I used this service – credit-report-score.10001mb.com
Hi Scott B,
A good way to find out could also be by checking out the Better Business Bureau for any complaints against Credit Relief Today http://www.bbb.org. The BBB has rated this company as an A and there seems to be no complaints registered with the bureau in the last 36 months. You may still want to ask friends or other individuals who have worked with this company.
ok.me and my stepfather went through debt settlement.now if have already defaulted on your credit cards,youre score is already going down.it will continue fropping every month.ex.my score was 720 before defaulting.i defaulted on 2 credit cards in order to end a financial hardship.my score dropped to 550 in a matter of 4-6 mos.i dont know what youre fianancial situation is,but if you have a lot of debt,find a good debt settlement company that can settle the debt.my stepfather had to go through debt settlement because of a mixup and his creditors raised his interest rates to 30%.he owes $40k.my situation was different i owed about $10k to my creditors.i tried going through two diiferent companies.one wanted to charge a fortune.the other was just taking out fees.after i started getting phone calls,i finally decided to settle the debt myself. i got everything in writing from the creditors,and i settled the debt at 40%.another thing they might not have told you is that what ever amount you save counts as taxable income for the year that you settle.i would not worry too much about your score.once the debt is settled,it should read $0 balance and say settled.once that happens,your score will go back up.There are a lot of people that are doing this right now,so dont feel that youre the only one.youre not alone.this could get you out of financial trouble much quicker than trying to pay back the creditors,and it could save you a fortune.good luck.
The problem with most debt relief companies is that there are up front fees and back end fees. As you are aware, they charge 10% up front. The problem is that they usually have no arrangements in place with your creditors, so they rely on you defaulting on your credit cards. They tell you not to pay your creditors anything, ignore the calls and letters. What typically happens is that the creditor usually charges the account off after 6 months, and either puts you through collections themselves or they sell the account to a debt buyer for pennies on the dollar. Then the debt buyer puts the account in collections.
When you settle an account, if you save more than $600, the creditor send you a 1099-c for unearned income. You end up paying taxes on the money you saved.
You also end up paying them another 10% of the money saved as a fee.
Also, your credit score drops a minimum 45 points for each settlement.
It’s a three way loss.
1 – You end up paying someone a lot of money.
2 – Your credit score takes a major hit/hits.
3 – You have to pay the government.