...can be done, right? I'm currently in Debtscape, which was previously Neway, and with all of the bad things I now KNOW about CCCS's, I want to get out. I've been in for a year, and paid ontime, and they haven't been OK. Haven't missed a payment. Can I then negotiate with this creditor (Associates) to get a favorabe rate again? It's way down to 12.90 after being at 26 something. Anyways, if (when) I get out, how can I get that info removed from my reports? Or any info that I was involved with a CCCS with that account? P.S. - FYI, the other account doesn't show that I'm with a CCCS - it shows paid/current.
Thanks for the reply. How could I get the CCS notation off of that account. Goodwill letter? I'm getting rid of them first thing in the morning.
CCCS is not really bad. I don't know why people say that. It's obviously people who have never used it. I did use it about 6 yrears ago, and here is what you need to do to get everything back to normal. Call your CCCS agency and tell them you want out. They are then required to send letters to all creditors stating that you are leaving the program. When I was on it, the only thing a OC could report was that the payments were managed by a CCCS in the creditor statement part of a tradeline. Since that information will no longer be accurate, you have that disputed. Dispute it however with the OC, not the CRA's. The CRA's will not even bother and it will just come back verified. Tell your creditors that they should have received a letter from the CCCS company. They are required to remove the information. It took me three years to complete my program in which I paid $17,000 in debt off. Not bad at all if you ask me. I also, after three weeks of work, had no notations that I was ever on it. As far as the interest rates, I am sure the OC's are not going to look kindly on you. I closed all my accounts at the time, but now have accounts again. Not sure what to tell you about that part of it. Hope this helps.
I have to agree with Weather. While you are in it, it is BAD because some creditors will put the "In CCCS" notation on your cr, which kills your scores. If you find a good one that makes your payments on time, its much better (IMHO) then BK, because once you are out of it, the notation has to go. The BK can stay. We had to use it several years ago, we had no problems, and it saved us from a BK.
Count me as another CCCS success story. Once we finished our Debt Management Plan, we had the satisfaction of knowing that we had repayed our debts. Additionally, once the creditors have their money from you, they have no incentive to engage you in any sort of contest over the status of your credit reports. There's nothing in it for them. It took me just over a year of sporadic efforts to get over 75 negative tradelines removed from my CR's and those of The Lovely Mrs. Quixote. They would have fought much harder I'm sure, if I had gone BK. The more important factor me though is this: I repaid my debts.
"SOME" HAVE HAD SUCESS WITH CCCS... BUT there are the late payments...you sent payment 3 weeks early and they are LATE??? Credit report "HIT" (CCCS) Some have said they could not get a 100% securred card 2 years POST CCCS... 2 years post BK prime low rate cards (unsecurred) low rate mortgage...
"SOME" HAVE HAD SUCESS WITH CCCS... BUT there are the late payments...you sent payment 3 weeks early and they are LATE??? Credit report "HIT" (CCCS) Some have said they could not get a 100% securred card 2 years POST CCCS... 2 years post BK prime low rate cards (unsecurred) low rate mortgage... This is DOCUMENTED INFORMATION~~NONE OF IT IS MINE BECAUSE I NEVER WENT BK OR CCCS!!! If you have DOCUMENTED EXAMPLES...post them... I NEVER SAID NOBODY HAD SUCESS!!!
I am a CCCS backer. I am 100% with the people who say CCCS was good for them. CCCS was good for me also. The only people I know whom CCCS was not good to are people who continued to be late paying their bill. People who did not take responsibility for their finances while with CCCS. CCCs payments can be paid late to card companies by CCCS company and it happens often, however this late payments should have no effect on your credit report. CCCS companies make arrangements with card companies that payments would be sent on X date. This X date often does not correspond with card due date. Card companies understand this and do not charge late fees. Card companies also do not report such lates to CRA's. The only time a late payment to card company would affect you is if you were late paying to CCCS. BK is DEFINITLY not better than BK. UNLESS there is no way in hell you could pay off your debt within 5 years with CCCS.
Re: Re: Re: Getting out of a CCCS... The experience of people leaving the program is variable. I have seen situations where the creditors simply did not bother to change the interest rates once they have withdrawn from the CCCS program. The program's success is dependent upon how good your counselor was. How appropriate the DMP program was for your particular situation, and how committed you might be to help yourself. There are also substantial differances in exactly the type of program is used. Face to face counseling is superior to online programs leehoch
Well, that's not exactly true. Foleys killed me. But it was a small price to pay to get out of debt. I recently disputed away the lates. From my experience, Foleys was the exception, not the rule. I really think you have to factor in who you are paying thru CCCS as well. Some creditors are better than others with the program. I may have just gotten lucky with whom I owed.
I think the important thing is to do your due diligence and find a reputible CCCS organization. I used Genus, after looking at them, Ameridebt, and many, many others. It's your responsibility, so make sure you do what is necessary to make sure your credit is not destroyed. The point was that if you find a reputible company and you pay them your payment on time every month, CCCS is a godsend. Had I filed BK 6 years ago, I would still be renting and probably have 2 secured cards. Instead, I have a house, three financed cars at less than 4% each, 2 unsecured credit cards with limits totaling $13,000 AND a $15,000 unsecured home improvement line of credit. Tell me I'd have all of that with a CH7 on my record. These are FACTS.
