I am having a problem with credit card debt and collection agencies. I have recently contacted Ameri Debt about a program but am not sure if I should use them or not. Any advice would be great..here is my situation: Tri Advantage contacted me about a CitiBank card with a 4000 dollar balance, they gave me a settlement option of 3200, but I didn't have that kind of money. They also gave me the option of 1050 upfront and 312 dollars a month. I was assuming that was my only option, but being as how I am just now graduating from college I didn't have the 1050. I gave them a good faith payment of 200. Afterwards, they continued to harrass me as I tried to figure out a way to get the rest of the 850. They contacted my parents and informed them of the debt which is against the law as I have found out. They also contacted my parents after I told them not to call that number any longer because I was not living there. I have been working on a plan to get the 850 and even tried to convince them to let me get into my job and pay, but they will not take that option and are now telling me I have until Friday. Anyhow, I got upset with the woman today because of the constant harrasment and the facts that she called my parents. They still don't know about it though. She gave me to her supervisor who was rather nice, but still didn't really want to work out anything with me. When I mentioned Ameridebt, he stated that he would not work with them. I am not sure why or if they have the right, but I was hoping that Ameridebt would be my ticket out of this pickle. They had told me that they would take care of the collection agencies as well as other credit card debt. I am 23, graduating, have a full time job starting next week, but I have 22k in credit card debt. I have no idea what to do. I don't know if I am going to be able to pay Tri Advantage by the end of the week, actually I don't think that I will. I am not even sure what they will do next or what I should try and do? I don't want to bring my parents into this for various reasons and they seem to tell me to talk to them everyday. This I will not do. I am at a loss for what I can and cannot do. What can I do about them talking to my parents? What are my options? What about Ameridebt? Is that a good idea? Can they actually help me? They gave me an affordable monthly payment, but I want to make sure that is the best thing to do, because I have not sent in my initial payment yet. I also have an American Express card that is with a collection agency. I am not sure what I can do with it either, they want outrageous payments. I would be able to pay these guys, but I need a month to get on my feet and time is of the essence. Do I have any options? Is there anything that I can do about all of this? I will make enough money to get most of this debt down rather quickly, but I don't know if Ameridebt is the correct way to go. I just want to get everyone off my back and get everything singled down to one payment, without Ameridebt, my payments would be over 1000 monthly easy. Any help someone can give would be very helpful. Thanks Keith
What is Ameridebt? Is it a loan, or is it a consumer credit counseling service? Most people here who have experience with CCCs will tell you it is worse than bankruptcy. I have not seen many positive comments about them here at all. As to the Friday deadline. Collection agencies are very high pressure. It works much of the time. I know because they tried it on me and I paid up. I was told that I had to pay that day. The attorney was in the office ready to go to the courthouse to file. I paid. Later I found that this was pure BS. I also paid a very high collection fee, and I believe I still hold the Creditnet record for being stupid. In fact, there are no real challangers to my record. What will probably happen if you don't meet the Friday deadline? They will call you Monday and set a new deadline. These things take a long time before suit is filed. I cannot make any guarantees but I think you are a long way off from a lawsuit. My suggestion is this. Don't pay yet. If you don't have the money, you can't pay. Wait a month and then figure out how much you can pay. Then work it out. Right now, sit down and write a validation letter to the CA. Look at the forms available here, specifically the Lizardking letter, and adapt it to your circumstances. Send it CRRR. Make it clear that they are not to contact any third parties about your debt, including your parents. A month from now, when you have a paystub or two to prove income, you can revisit the idea of a loan consolidation debt. I really don't know much about them, but there have been a number of posts here recently.
Go to creditinfocenter.com and you'll find lots of info on Ameridebt. Use anyone but them. Try CCCs instead. Good Luck
Don't use ANY credit consolidation companies.. I would send validation letters and dispute your entries at the CRA's.
