Posted by Pierces Notary Services on 1/2/08 7:30am
Msg #228540

OT - Debt Management

Does anyone out there know of a reliable debt management program? Apparently my mother and stepfather have themselves in a heap of financial trouble and I'm trying to find someone reliable they can talk to. Seems like a lot of those companies are nothing but problems.

Reply by Loretta on 1/2/08 7:38am
Msg #228541

CCCS (Consumer Credit Counseling Services).
I got into a mess about 11 years ago and I went to them for help.

Reply by LisaWI on 1/2/08 7:43am
Msg #228543

Dave Ramsey might be an option.

Reply by Pierces Notary Services on 1/2/08 7:50am
Msg #228544

I'm not sure who that is - they need help - they are on social security and are in a tight bind right now - tried to call my mom yesterday to wish her happy new year and her phone was shut off.

Reply by LisaWI on 1/2/08 8:04am
Msg #228550

He helps people who want to get out of debt and budget their income. He is very positive and logical when it comes to finding a solution for people who need help. Try a google search on his name. He also hosts a talk radio show on Public Radio and takes phone calls from people. IMO, he is very dedicated to helping people and does so with the misfortune that he had experienced in his life. He learned from it and now shares his knowledge he gained from his learning experience.

Reply by Eric2OO2 on 1/2/08 8:02am
Msg #228548

CCCS is horrible and they do not much more than the consumer can do on their own. A CCCS notation also looks quite horrible on your credit report. It has the same effect of Bankruptcy or sometimes worse.

Check out the money mgmt and other forums at www.creditboards.com/forums

Reply by Loretta on 1/2/08 8:23am
Msg #228551

You are right to an extent, the consumer can do some of it on their own but some consumers don't know where to start. By the time someones phone is disconnected, credit scores are probably bad anyway. And, when you have nothing to lose, as we were on our last leg, they know what they are doing and it was free. We actually had to file bk. It was awful to have to come to that but when your husband is in an auto accident and is in Shock Trauma in Baltimore for weeks and in a hospital bed at home for months, we had no choice. A credit card company will not negotiate rate with you after you are delinquent but debt management companies can. CCCS was the right choice for me at the time. By the time people get in financial trouble, their credit report is almost always tarnished.

Reply by Pierces Notary Services on 1/2/08 8:31am
Msg #228555

from what I understand my mother said that CCCS will not negotiate the rate, payment, etc. - she said they will try to put them on a budget so that they can afford to meet their obligations at the current payments. Unfortunately I think they are way beyond that point now. I know my stepsister has been trying to help them with fuel for heat, etc.

Reply by LisaWI on 1/2/08 9:05am
Msg #228561

This is kind of off topic, but heres what I dont get. I had called a CC comp to see if I could get my interest rate lowered. They sent me to a very nice lady who asked me if I was having problems paying my monthly and I said yes. She said lets look at your debt ratio and see if anything has changed. The conclusion was yes, it has. After about 15 minutes on the phone with her, and I thought that they would lower my interest, she tells me I have to go to a certain company to talk to them about lowering all my credit card payments. I didnt want to lower all of them, just this one. The other ones are fine.
I was upset because my thinking is why would I pay a company to lower my interest rate, when I should be able to do that directly without a middle man. How can they(the comp working for you) lower the interest rate, but we cant. It seems like a scam to just make another company money. And then I got to thinking, maybe this company she referred me to gives some kind of a referral fee for directing me to their company. It just doesnt make any sense and its very aggravating.

Reply by Sharon Taylor on 1/2/08 12:14pm
Msg #228617

Dave Ramsey Dave Ramsey Dave Ramsey Dave Ramsey!!!!

He has a talk radio show which you can listen to, and he takes calls during the entire show from people who have all kinds of financial problems. He also has a great website, and he takes emails during the show too. I listen on 99.7 FM Talk Radio from 1 to 4 CST since it's carried by the Nashville station in my area. He's based out of Nashville.
Go to the website and find the phone number to call, then call and talk with him or his team. I guarantee they will be able to point you in the right direction...for free.
He has a whole list of service providers of all types, including debt counsellors, who are vetted by him and his team for their caring, professional and honest work with people in financial trouble or who need other trustworthy professionals.
He has a Financial Peace University workshop which many many churches will hold for their parishioners, and he holds workshops around the country. He also has tapes, books and workbooks for sale on the website.
BUT WAIT - you DON'T have to buy anything. He is very dedicated to helping people straighten out their financial nightmares, and during every show he gives some callers tickets to his workshops and gives some callers books that will help them get started on the road back to financial stability.
He does NOT push his books and tapes and workshops on the air, just lets people know they're available. He does answer questions thoughtfully, thoroughly, and caringly. He will not lie, scam, trick or b...s... you.
DO NOT USE A CREDIT COUNSELLING SERVICE - nearly all of them are ripoff artists.

Reply by Doris_CO on 1/2/08 10:12am
Msg #228568

My husband is a seminar instructor with a Christian ministry that helps people get out of debt. This ministry has volunteer Money Map Coaches which are free, but it might take a while to get an appointment. This organization also recommends the Consumer Credit Counseling Service of Atlanta, GA. ONLY. You don't have to be in the Atlanta area in order to work with them. There are certain qualifications you must meet, such as some sort of income in order to pay your debts. You can PM me for the phone number for the CCCS if you're interested in more information.

Reply by Mia on 1/2/08 10:29am
Msg #228576

Re:Debt Management - You could call

First get a hold of your Mom and see what is happening with them.
Then I'd try calling the local (where your Mom & Stepfather live)
Commission On Aging (not all areas call it that name) -- depending on
the area & the amount of money that's allocated, they may have people
to help them.
If you can't find help within the Commission On Aging, I'd call a bankruptcy
Attorney --- not nessarily to file bankruptcy, but to get some idea what they
might recommend.

...

Reply by Eric2OO2 on 1/2/08 10:47am
Msg #228586

Re: Re:Debt Management - You could call

A bankruptcy attorney will only suggest one thing - bankruptcy.

Reply by sue_pa on 1/2/08 11:13am
Msg #228603

disagree

I see on this board that people very generally have a bad opinion of attorneys. Perhaps because I worked in a law office for A LOT of years I've got a different view.

Reply by Richard Ingram on 1/2/08 12:41pm
Msg #228627

Re: disagree

Dave Ramsey will not lie to you. You may not like the way he says it but if you follow his program it will not fail.

Reply by BrendaTx on 1/2/08 12:45pm
Msg #228630

Agree Sue. Most of the ones I have worked with

are often too kind on fees. I have seen questionable attorneys, sure, but my experience has been positive.

The one bankruptcy attorney I have worked as a temp for would go above and beyond to help out.

Reply by NWIA Searches - Karen on 1/2/08 2:25pm
Msg #228667

The best thing any person can do when "broke", is simple... get another job AND spend less., adjust their life style, hurts but true. No need to pay a company to do this for anyone, they are mostly a ripoff. Also, the credit card companies should & can lower the interest rate and/or accept a less payment in full if your parents explain to these snakes that they won't be paying them PERIOD.