Debt Consolidation “Happy Talk” Did Not Give David Miller That Happy Feeling!

Debt Consolidation was supposed to free David from debt and debt collectors in 12 months. What David Miller of Atlanta, GA, got was far more than he expected, causing him to wonder what just happened.

David never believed his credit could get any worse or that debt consolidation would not benefit him.

The debt consolidators promised to negotiate his  debt with his creditors. They told him they would:

>> consolidate his payments into one payment,

>>lower his monthly payments,

>> reduce his interest rates,

>> waive late fees,

>>eliminate collection calls,

>> help him avoid bankruptcy,

>>provide him with only one monthly payment and

>>help him become debt-free in 12-36 months.

Sounds great so far, right? David thought so…until after he signed up.

Immediately, David’s debt consolidator made calls on his behalf, getting his creditors to (agree to) accept payoff at 50% of debt . He had agreements in place and was prepared to make monthly payments to the  debt consolidation company.

David’s DC counselor assured David he’d be debt free in 12 months.

Unfortunately, the DC counselor did not tell David that she would destroy his credit in the process of saving him a “couple bucks.”

Click “Read More” below to learn from David’s HUGE mistake…he’s trying to rebuild his credit and wondering how he only saved a couple bucks.

DEBT CONSOLIDATION “MISTAKE” HAUNTS DAVID….

David screwed up…he knows that now. He turned his debt problems over to a DC company promising to “take care of it.”

The DC company took care of it all right. The company to whom David handed his debt problems destroyed his credit and saved him just a few dollars.

…saved him just a couple dollars!

David didn’t want to be bothered…he was too busy. Now, he’s facing more serious problems.

The debt consolidation company negotiated lower payoff amounts with his creditors and took a big chunk of change for “helping.”

Just a couple problems with debt consolidators:

1. Where’s the dispute and debt validation process?
2. Why does the debt consolidation process not validate and verify debt? Debt validation with creditors and collection agencies and disputing with credit reporting agencies should occur immediately following a review of each of your three credit reports. Validating debt is not even on their radar. They don’t even consider it. This alone is STUNNING!
3. How do you know the debt is yours?
4. How do you know that the debt collector (whoever it may be) is legally permitted to collect?
5. How do you know that 100% of the bad credit listings are accurate?
6. What are the Statute of Limitations for each bad credit listing? If you’re beyond the SOL, a collector cannot legally collect (though debt collector will still try to collect).
7. By the way, what happens to your credit during this debt consolidation and payment process? Oh, has the debt consolidation company conveniently failed to mention this part of the process?

While you make on-time monthly payments, the creditors are marking your credit…30 days LATE! …60 days LATE! …90 days or even 120 days LATE!

Your alleged creditors, who may or may not be creditors to whom you owe money, will take your money and mark your credit, “Paid – Was 30 (or 60, 90,120, etc) days late”.

What do you think? Please tell us about your experience with debt consolidation.

Debt consolidation KILLED David’s credit. What David discovered is that the debt consolidation did nothing that he couldn’t do himself. In fact, David discovered he himself could have negotiated lower payoff amounts + better score reporting. David now believes debt consolidators work with CREDITORS, not the debtor. What do you think?

Welcome back! Got a question for me...or an experience to share? Please go to the bottom of this article to ask a question or share an experience. :) Thank you!

• "Debt Management Programs Suck!" "Debt management programs suck!" Jasmine Carter of Boise, Idaho, tried debt management after seeing repeated pitch ads on TV. "I got suckered by their ads.  Everything sounded so good...until I got involved with them," says Carter. Jasmine did not get the help she expected. When she received a summons to......
• Bad Credit Repair Myths Hurt Credit Scores! Bad Credit Repair teaches Tim from Idaho how easy it (can be) to face up to and overcome bad credit challenges...that is, once Tim gets REAL about credit repair! Tim, it's your lucky day! You've come to the right place for improving your credit and getting your "good credit" life......
• Credit Repair Fast "Experts" Spill The Beans On Removing Bad Credit! Credit repair fast "experts" pretend only THEY possess the knowledge and ability to help you fix your credit and regain your good credit life. Ironically, most credit (dis)repair companies LOWER your credit scores and help you get SUED! That's right, credit (dis)repair companies' monthly fee includes firing off "rounds" of......
• Bad Credit Repair Requires Felicia Avoid This Potentially Costly Mistake! Bad credit repair requires STRATEGY before you throw even one penny at some debt collector...or else! Felicia wants to make right by her debts! Good for you, Felicia. Unfortunately, what Felicia does NOT know has her confused, angry, depressed, frustrated and tired. I certainly understand, Felicia. While I'm helping Felicia,......
• Repair Credit FAST By Peeking Over The Shoulders Of People Who Fixed Their Ugly Credit & Now Enjoy The Good Credit Life! Repair credit fast secrets help Eric T. of Wesley Chapel, FL, improve his credit scores easily and quickly. Instead of getting confused by all the "credit repair" chatter, Eric focused on eliminating one collection account & one annoying debt collector who called...and called...and called...7 days a week. "HELP! Please, I......

• Great Credit Repair Companies Are Easy To Find Many people have accumulated a great amount of debt in recent years and have found that the amount of debt...
• Improve Your Credit Today Having blemished credit is both costly and stressful, but it does not have to be the end. Your situation may...
• Credit Report Versus Credit Score I hear a lot of people interchanging the term credit report with credit score.  I do it myself.  But there's...
• Improve Your Credit Score - Four Steps To Take To Improve Yours If you need to improve your credit score, there are steps you can take right now. Creditors are getting much...
• Credit Cards That Can Help You Get Out Of Debt. I know it sounds counter-intuitive, but if you are carrying debt around that you are paying interest on, you can,...