A co-worker of mine has collection and charge-offs. He started with CCCS two months ago and begin making payments (WITH NO WRITTEN AGREEMENT!!) Not to worry, I told him the error of his ways and printed out Bud Hibb's book for him to read. I also let him know that he lost most of his negotiating power after he made his 1st payment. My question for him is: Should he cancel CCCS and try to negotiate with the creditors? Would they be willing to help him if he's currently giving them money? Should he cancel CCCS and wait a few months and then contact the creditors to negotiate? Should he suck it up, continue to pay CCCS and ruin his credit for the next 7 years. Advice will be passed on. Thanks. lB
Who is CCCS..?? If CCCS is what I am thinking..... A company who helps settle debts with creditors. YES... for sure.... he needs to cancel with them!! All CCCS does is to keep you from filling BK. They are here to protect the Companies..... They are not out to help YOU at all!! The number one reason I can think of is....He can pay CCCS as they have agreed. Unfortunately.... the creditors didn't agree to this. They will still report him being late and never paying as agreed on his CR. I think it may show he is having help with CCCS. So.. in the long run (7 addition years after paying CCCS off) he is not helping him self at all!! I hope this helps some... ;-) MartysGirl
