CareOneSM Debt Consolidation Review
CareOneSM Debt Consolidation is a company that provides debt management and consolidation services to consumers with large amounts of credit card debt. I have actually used their services in my journey out of debt and am happy to recommend the,
When you contact CareOneSM Debt Consolidation, they will:
- Contact all of your credit card companies and other creditors on your behalf (all except your mortgage company and/or auto lenders).
- Attempt to renegotiate the terms of your debt in order to eliminate late fees, reduce your interest rates, and reduce the amount of your monthly payment.
In my case, they got my interest rates on two cards down from 19% to 13% and 20% to 15% without me ever having to speak directly with my creditors.
After enrolling with CareOneSM, you begin making one monthly payment to the plan instead of several monthly payments to all of your credit card companies; CareOneSM then distributes your payment to your creditors according to the settlement it has reached with the credit card companies.
What does it cost? There is a small monthly fee for its service. Unlike some sketchy debt management companies, CareOne does not charge setup or enrollment fees.
As with any alternative to managing your debt on your own, there are pros and cons to working with CareOneSM Debt Consolidation.
On the plus side: you have a company that is experienced with negotiated with creditors in your corner. Credit card companies may be more likely to listen to CareOneSM than when you call directly (as was the case in my situation). Furthermore, the company provides representatives to help you manage your debt on the phone or online.
On the downside: CareOneSM does charge a monthly fee, and working with a credit counseling agency may lower your credit score. Of course, getting current on your debt and paying it off completely will definitely raise your credit score, as it is doing in my case. My score is up over 60 points since joining CareOne, and should be over 700 again soon!
If you think CareOneSM Debt Consolidation might help you get out of debt for good, you can get an idea of what they might be able to do for you by filling in a quick online form. There’s no obligation.
Visit CareOneSM Debt Consolidation Now »
Disclosure: MoneyUnder30.com receives compensation for advertising the CareOneSM brand of debt relief services based on each qualified consumer who links to the CareOneSM website directly from our site. David, the editor of this site, has actually used CareOneSM himself and is happy to recommend the service. To understand more about this and other advertising relationships on this site, please read all of our disclosures.
