Need help to Clear C/C Debt. Has anyone worked or heard of this company before??

Question

http://www.creditcardswrittenoff.com/

Answer 1

you will get charged - citizen's advice will help u - or u cannegogiate direct with the card company. if you are struggling to pay they often accept a lower monthly payment and stop interest - you of course can't use the card and must keep up

payments.

don't use these companies please

Answer 2

How to clear your credit card debt - give us £495 up front.

I think what they will do for the money is basically check your credit agreement for unenforceability. Then they will get a solicitor to make a claim through court for the debt to be written off since the contract is unenforceable. Notice it only applies to agreements prior to 2007.  Notice the con trick - you pay £495 and the debt is (possibly) written off - ie you dont get any cash back, you have still paid almost £500 quid which, if you are already in debt, you wont have to splash out.

Answer 3

DON'T TOUCH THEM WITH A BARGE POLE!!!!!!!

As someone else pointed out, the website is cheap looking.

The other thing is, they have to provide at least a name and address (not PO box no) and an email address (not a web form).

Answer 4

Any thing/one that charges for advice that can be found for free is suspect. Look at http://www.moneysavingexpert.com/tips/ or vist the CAB

Answer 5

their website seems utterly cheap so why would you trust them

Answer 6

Places like this charge you for their "service" which I don't believe is a service at all.  You can pay off your CC Debt all by yourself without paying for a service.  Here is how:

First make a budget  There are tricks to making a budget.

A budget is not a punishment. It is a tool that allows you to achieve your goals and to never have to worry about money again.

First make a list of ALL of your expenses and don't forget those annual, semi annual, and occasional expenses (car registration, home insurance, etc.). The expenses that don't come up each month, divide by 12 so that you are saving up for these expenses ahead of time each month and they don't come as a surprise hit to your budget. If your expenses are more than your income, decide where to cut your expenses so that you are living BELOW your income. Add an emergency fund to your budget- start saving $1000- $1250 for your emergency fund.

Before you get your paycheck, decide where EACH dollar of your check is going to go including the column for the emergency fund. If you have debt, put any "extra" money towards paying off any debt as soon as possible.

If you have debts:

1.First get current on all of you debts and make no late payments. Stop using your credit cards immediately. Do not take on any more debt. Make a list of all of your debts in order of highest interest rate to lowest interest.

2. Pay the minimum due on all of your debts and then put your extra money towards paying off the highest interest one first. After you get that one paid off, you put the money you were paying on debt #1 (the minimum payment and the extra payment) towards debt #2. That will pay debt #2 off faster. When that is paid off, you put all three payments towards card #3 and that one will be paid off pretty quickly. As an example:

To start :

Debt #1 (highest interest): minimum payment+ extra payment

Debt #2 (middle interest): minimum payment

Debt #3(lowest interest): minimum payment

Debt #1: paid off

Debt #2: minimum payment from Debt #1+ Minimum payment from Debt #2 +extra payment

Debt #3: minimum payment

Debt #1: paid off

Debt #2: paid off

Debt #3:Mimimum payment from card #1+ minimum payment from Debt #2+ minimum payment from Debt #3+ extra payment.

That way, you will get them all paid off, on time, and pay the least interest. It will also help towards rebuilding your credit since you will no longer have any late payments. This works no matter how many different debts you may have.

3. After you get all of your debts paid off, add to your emergency fund until you have 6-12 months of income saved up. That way if you have a big emergency like a layoff, you don't have to tutn to credit cards to survive.

4a. When you have your full emergency fund in place, add a category for "fun" to your budget. Save for a holiday, a vacation, a big screen, or dinners out, whatever goal you want. Remember to enjoy your life.

4b. When you have you emergency fund in place, start saving for your retirement. Join the 401(k) plan at work and contribute the maximum. You employer probably matches at least part of your contribution so why give up free money.

4c. When you have your emergency fund in place open a Roth IRA and contribute the maximum on a monthly basis. If you start saving for your retirement now, you will probably retire a millionaire.

It does take a bit of discipline but you can do it. You just have to learn to tell yourself no. It will take a bit of time to get your budget together but once you have it written down, it will not be too hard to follow each month. You will find that you will not run out of money before you "run out of month" and

you will be able to do all of the things you want to do.

Answer 7

Just so you know...if you call your CC companies and beg and plead your case, they will give you the exact same deal you get through consumer credit counseling companies.

I had a huge balance on a MasterCard that I couldn't pay.  I begged, and pleaded, and finally they got me to someone who gave me 0% interest, and cut down my over the limit charges, etc., and I was able to pay it off.

That's a secret hardly anyone knows.  You can do every single thing the counseling service can do, you just have to be absolutely persistent, nice, friendly, and you'll get the help you need.

Answer 8

Be wary of firms that make this kind of 'magic' offer. It probably requires you to pay them a 'fee' for want of a better word, with no guarantees of success. Go to Martin Lewis's website for genuine free advice.

It is difficult to give you 'off the cuff' advice without knowing the size of the debt or the rest of your finances. I would say be careful about entering into an IVA as you have to pay fees upfront and added into your debt in order for them to negotiate a debt reduction with the credit card company(s). You pay the IVA off over five years.

If you have no assets i.e. a house, or a Porsche then consider self declaration of Bankruptcy. This sounds grim but it is simple and painless - providing you have little or no assets. The afore mentioned website will tell you all.

Answer 9

Contact Consumer Credit Counseling Service in your area