Jump to content

hdporter

Hardship Agreements / Debt Management Plans

Recommended Posts

It's been a long time (20 years) since I found myself struggling to keep up with bills.  So I'm out of the loop when it comes to that type of situation.

 

I see reference here to use of Debt Management companies to get back on top of one's bills.  While I recall dealing individually with creditors "back in the day", with varying success - depending upon whether they had a well-established hardship program or not, I can understand the appeal of having a single firm do the footwork.

 

However, I was surprised at reference here to engaging a DMC to handle only a single outstanding bill.  I'd have thought an intermediary would put you at a disadvantage.  Is that not the case?  Are creditors that much more difficult to engage with when it comes to hardship plan requests? 

 

Please bring me up to date ... thanks!!

Share this post


Link to post
Share on other sites

DMC's screw credit up even more than you can on your own.  There is nothing they can do that you cannot accomplish on your own provided you are not scared of your telephone. 

 

Most DMP's have their clients quit paying entirely, after which they then have the client essentially depositing into a DMP-owned account.  They then try to negotiate a deal.  Meanwhile, your credit tanks even worse than it would had the client simply kept up with at least a minimum payment due each month. 

 

If you provide some basic detail about the account(s) in question, better and more-tailored guidance might be available...

Share this post


Link to post
Share on other sites
4 hours ago, centex said:

If you provide some basic detail about the account(s) in question, better and more-tailored guidance might be available...

 

:huh:

 

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Today's Birthdays

  • Member Statistics

    • Total Members
      177,132
    • Most Online
      1,528

    Newest Member
    Zo1919
    Joined

About Us

Since 2003, creditboards.com has helped thousands of people repair their credit, force abusive collection agents to follow the law, ensure proper reporting by credit reporting agencies, and provided financial education to help avoid the pitfalls that can lead to negative tradelines.
×
×
  • Create New...

Important Information

Guidelines