I have about $30K in credit card debt, and applied for the above referenced after a few people recommended them in another thread. I'm not behind on anything, no delinquent accounts, but my DTI ratio is way up there. I got a message that it would take 7-10 days for them to process my "prime + 5.99" rate (is that good?) and they would notify me by mail of the final status. Um, did they just tell me no? Are they investigating further? I'm a little confused here. My next step is CCCS if this doesn't pan out, so I'm rather paranoid.
THINK TWICE...NO THINK THREE TIMES...NO FOUR TIMES...ABOUT CCC!!! Many people have NOT been able to get a 100% secured card after 2 years POST CCC. Not that I would ever encourage BK, but people have been able to get UNSECURED credit cards and a mortgage <10.00% post BK... I personally would do NEITHER, I would get a second job, eat less, dump cable, walk to work, sell stuff, take on a border...what ever it takes...
I had 22k in revolving debt showing on my credit report when I applied for the AMEX LOC. I did not owe that much, but the CR had not updated at the time. They declined me because of high revolving balances. Once the report reflected the change, AMEX approved me upon reconsideration. They did do another hard inquiry. Greg
Actually, I would be using myvesta - I have seen lots of negative comments on CCCS, and I have yet to see any complaints about their service. Yes I know it would be a black mark on my credit report. We have nothing left to sell, can't get another job due to our situation (we already live 30 miles out of town to save on rent, and only have one car), and things just are going to get worse. I will gladly sacrifice a lower interest rate in the future to keep me from declaring BK. BTW, Credit counseling does not always screw you up for eternity - my brother used Genus to pay off his debts, and he just bought a house at 5.9% two years out of the program.
As long as you keep updated and informed with the company you are going to do the ccc with, why not? It is all about personal preference. I am sure that there are people that used a ccc and are satisfied. So whatever you decide, good luck.
