Are those credit solutions places really work? What do they actually do? Which company is the best one?

Question

Are those credit solutions places really work? What do they actually do? Which company is the best one?

Answer 1

NO!! I wouldnt recommend those companies to anyone. They do not help you and will ruin your credit. They start by telling you to pay the fee to start the program, normally a few hundred $ , then they tell you that they will contact your credit card companies and arrange a payment plan. In most cases the company doesnt have to accept the plan, and even if they do it will take a few months for them to do so, leaving your bills unpaid for several months. Which will then place you in collections. (I work at a collection agency, and they do not have to accept the credit solutions monthly offer.)  Also when you sign up for one of those programs, it goes on your credit that you did so, (my husband signed up once and when we went to buy our house the loan company informed us the credit solutions is about the same of having a bankrupcy on our credit) Your best bet is to call your credit card companies your self and work out an agreement on repayment. Your cards will all be closed in the fact you will not be able to use them, but most companies will allow you to set up a payment plan, in most cases that is less then what their min payment is. If you have more questions feel free to email me.