Comments on: 10 Things You Should Know About Debt Management Programs

By: Suzanne Cramer

Suzanne Cramer — Wed, 21 Sep 2011 01:51:23 +0000

Hi David,
We are really happy to hear that you found the help you need with your debt via CareOne Debt Relief Services and we appreciate your post explaining the services we offer. We have some exciting changes coming up on our site. We are stepping up our game with the information and resources we provide to people to help them not only get out of debt, but to also STAY debt-free. We hope that you will come and check us out at http://www.CareOneCredit.com and let us know what you think!

By: ruby

ruby — Thu, 03 Dec 2009 13:05:53 +0000

Credit card debt is like having nightmares. A successful credit card debt settlement is getting a new lease of life.
Credit card debt settlement does wonders to relieving your stress. Once you are done with your credit card debt settlement,
you are on track to having a much better life.
Any of these credit card debt settlement methods are fine, as long as they work for you and help you get debt-free quickly.
If you go for credit card debt settlement all by yourself, you will need to analyse the various options available to you
such as researching various balance transfer offers available, checking the loan options with the banks.

However, if you want to take credit card debt settlement advice from a professional, you should be able to trust the advisor
fully. So you need to check the credentials of the credit card debt settlement advisor/company.
There are hordes of people and companies that advertise “credit card debt settlement in one day” which will appear incredible.
Such credit card debt settlement offers are generally not genuine.

You need to understand that credit card debt settlement cannot happen overnight.
So, beware of such agencies. That said it’s important to mention that there are a lot of good credit card debt settlement advisors / companies available
such as Debt Solution Centers who will not only give you genuine credit card debt settlement advice but will help you throughout until you are finally out of debt.
Their advice may, in fact, more than compensate for the fee that they charge you for credit card debt settlement.
These credit card debt settlement companies / advisors will be able to help you in the best way if you tell them your current financial situation correctly.
Your future plans are important too, as they might influence the decision on ‘What route for credit card debt settlement would work the best for you’.

credit card debt settlement, you should also take measures to avoid falling into serious debt again.

By: Debtbytes

Debtbytes — Sat, 19 Sep 2009 19:35:16 +0000

With the current hammering to banks balance sheets, many of the major card issuers are offering 6, 12 & even 5 year hardship plans. These plans are offered direct to consumers without the need to seek outside assistance. The plans are often better than any CCCS company will be able to secure on your behalf.
Some banks offer anywhere from 0 to 8% for the life of the balance. They will close the account, just like they do when you enroll in a debt management plan.

By: Paul

Paul — Tue, 21 Jul 2009 21:25:37 +0000

I entered a DMP (Money Management Intl) 4 years ago with a pile of debt and am now a month away from being debt free. I will say the service wasn’t exactly what I expected going into it – the DMP was very hands off and didn’t provide much in the way of real conselling. They don’t even explain the process very well, so it’s worth doing a little research on your own. That said, I’m not sure I could have tackled my debt without the reduced interest rates and the one-payment structure.

By: Alicia

Alicia — Mon, 19 Jan 2009 19:30:58 +0000

We used CareOne for our debt management program. We chose to enroll in this program because our credit card companies unfairly increased our interest rates even though we paid on time every month and refused to lower them when we asked.
Our credit was pretty good, around 700-730 but we were in a never ending circle or debt, with high interest rates we never saw an end in sight. We’ve been making payment now for about 3 months (it takes awhile for your creditors to accept a negotiated rate/payment from CareOne) and now we feel so much more comfortable. We now have thousands of dollars in savings, lots of money in our checking, and most importantly we are finally putting a dent in our debt because it dropped our interest rates so much- some to 2%.
There are some downsides though that you have to weigh, our credit scores did drop down to 630-680′s and some creditors list our payments as “late” for some reason. But CareOne said that the late status should change after about 3 months of consistent payments. Some creditors also list that your payments are being made by debt management program which I can assume does not look very good on your credit report.
I believe a debt management program is good if you have a lot of debt with high interest rates that you never seem to be able to pay off. Just remember depending on the amount of debt you have, you really can’t take on new credit, sometimes for years.

By: Jess

Jess — Tue, 21 Oct 2008 14:38:41 +0000

I enrolled in Care One about six months ago not really knowing what to expect, but I was a month behind onall of my bills and needed to do something.

Care One did get better rates for me — I never had to talk directly to my creditors. I got a 22% APR dropped to 15% and a 19% dropped to 12%, and over $200 in late fees waived.

They do charge a monthly fee which I sucks because that could be going to my debt, but they did help me get out of scary time.

By: Jon

Jon — Tue, 21 Oct 2008 00:47:23 +0000

CareONE does not actively engage creditors to lower your payments and/or APR. Call the credit cards agencies yourself you can negotiate with them without the fees associated with so called credit management agencies.