http://www.geana.com says they can reduce your outstanding debt 60%-70% without bankruptcy and get you debt free in 9-18 months. Has anyone on here ever heard of them? Would something like that probably ruin my credit report since it's something like having charge offs that were paid with offers? Or might it be good to go with something like that and then after it's paid off, try and clear all the black marks off my credit reports? PLEASE HELP ME you gurus out there (like Lizardking and nave) Thanks, Chris B
my friend used them They make deals with your creditors and then you pay Geana each month. Watch out though, she had one company that said they never agreed to and thus reported negative marks on her credit even though they actually had been receiving money. If you go with them make sure you follow up with each company that you to make sure everything is being reported correctly (payments, credit report etc. ) She (my friend ) moved to MOntana so I don't know the end results.
Re: my friend used them I had tried one of those credit counseling type of places (not CCS) and they screwed everything up so bad I left them, and participated in a nice little class action lawsuit against them. Didn't help my credit thou, and now most of the stuff is in charge off state. If they're making deals, I wonder if there's some kind of a loan that you're agreeing to in order to pay off the deals. The service I was with only got the interest rates dropped on my 1 lowest balance card, and only got the various service fees removed from about half of them, so as I watched, and paid them for a year and a half, I noticed about $500 total down from where I started paying them $440 a month so I don't want to get stuck with any of that cr** again. Just wanted to see if anyone has heard of this group, and if it might be worth trying.
Re: my friend used them So Molly, you're saying I need to make sure to follow up with them, and make sure that any offers they're trying are agreed to by the creditors. Now with Charge offs, I wonder if they will get agreements with the originals or with the new "debt owner" collection company that's trying to get some money.
Re: my friend used them Credit Counseling notations are the kiss of death with creditors. You will get this notated on your report with this company. If you don't know what I am referring to, do a search under CCCS here on www.bayhouse.com
Re: my friend used them This is looked at by credit underwriters just the same as a BK 13. DON'T DO IT! You will be 3 to 5 years away from any decent credit report history and way too much agravation. Scott
Re: my friend used them In this case, assuming this is his only option, what do you suggest he do? If he is so swamped with debt that approaching one of these debt settlement companies is the last step before BK, what other options are there?
Re: my friend used them John, Unfortunatly I screwed everything up when I went with Ameridebt, because then my 7 year clock was re-started on all my debts that were getting a little past, only been free of them about 15 months so I'm stuck with the 7 year clock running out around January 2007 which is really too long to have these blemishes. I really refuse to declair BK, and would want to pay my debts off but all the overlimit, late, and 24% interest has made my debt so high, I just don't know what to do. Should I just start trying to dispute and get things pulled off my CR or do I hold fast until the SOL has passed first? Or just go with these guys. Thanks Chris
