Anyone use Curadebt? (credit card debt, loan, repayment, financial)

[micrguy]

I want to make sure that I don't get caught in a scam, has anyone ever used Curadebt or any other debt counseling firm? If so, any recommendations?

[70Ford]

I've heard CCCS is good.

Here's a link.

No, I've never used them.

DMP expirences and who would you refer? - General Credit Issues - FICO Forums


Looks for CCCS in your state..think they have a website for each state..at least it seemed that way when I googled them.

[litlux]

Originally Posted by micrguy

I want to make sure that I don't get caught in a scam, has anyone ever used Curadebt or any other debt counseling firm? If so, any recommendations?

I did a little research and this outfit has been around since 2000, and has only had three complaints with the BBB in the past three years, one of which has been settled satisfactorily. At the present time, consumer groups recommend that people approach these sorts of services with wariness, many promise far more than they intend to deliver.

I was concerned that on their website they said they were associated with a nonprofit organization, and failed to state who or what that was. A surefire red flag for me, since many of these debt consolidation/credit counseling companies set up a nonprofit in connection with the profit-making entity to further manipulate the funds.

Credit Repair companies offer to help improve, or fix your credit history for a fee. They may claim that they can clean up or erase bad credit history, and help you get new credit. Before you pay for this type of service, you may wish to consider the following. You can do the same things that a credit repair company can do for FREE. You do not have to pay anyone to learn what your credit report says, or to correct information which is incomplete or inaccurate.

Also, if you are thinking of this because you have been denied credit within the past 30 days, you are entitled by law to receive a free copy of your credit report. You may also request a report at any time for a minimal fee from any credit reporting agency. You should be aware that information stays on your credit report for seven to ten years and generally cannot be removed unless it is incorrect or outdated.

There are non-profit groups in every community offering low cost or free counseling services to consumers to assist you in arranging a repayment plan that you and your creditors can live with, and they can help you set up a budget. You don't have to pay a company you don't even know to do this.

Good luck and caveat emptor.

[Briolat21]

I used CCCS - paid off a very large amount in 5.5 years. For that service, I also paid them $50/month. Their fee is usually a percentage of your monthly payment setup.

Could I have negotiated with my CC companies myself - possibly. But I would have been way too intimidated to at that point in my life. They actually got me 0 on a number of cards, and much better rates on the others (like 8% instead of 24%).

2 years after my cards were paid off, I had excellent credit once again.

All in all - I had a positive experience with them. They do charge a fee, but it was reasonable in my opinion. They do not over promise - i.e. they will not promise to erase legitimate bad marks against you. Therefore they do not promise to repair your credit report, but rather to help you get out of credit debt.

Good luck whatever you decide!

[RjRobb2]

I would never use any of those counseling companies. I have worked as a loan officer and a collection associate for a large credit card company and have never seen anything positive come from using those companies.

I have seen them take peoples money, make late payments, or not make any payments at all. They took my uncles credit for upper 600s down to the lowest score I have ever seen in 4 months time by taking his money and not paying any of his debt.

Those companies dont do anything that you cant do yourself with the proper negotiations. If you call and talk to your creditors, most of them will work with you just as much as those places claim they can do.

[Karla with a K]

CCCS is one of the few the legit one
The past few years all of these "debt help" companies have been popping up like flies on you know what.

I went to the "cureadebt" site when this post was first started and now it seems they have changed it so you can't see any of the information unless you give them your information hmmm
when I looked at the site it seems their main focus is on settlements
Settlement companies IMO are some of the worse, Most of them use a "program" where you send them money and when it reaches a certain amount they will then "offer a low settlement" to the creditorwhich 90 % of the time is rejected.
What they fail to mention is that during this time you are racking up late fees and possibly over limit fees and also risk the chance that the creditor may decide to pursue litigation if when they review your credit report and find you may have assets.
Run do not walk away from these type of companies !!!

[thefrogman]

All is fantastic about Curadebt, I agree with all that is written about them in the previous reviews. The only thing I differ with the other two reviews about is that Curadebt operates their entire call center out of Medellin, Colombia. Yes you heard it right! they are legally registered with the state of California under Pemper Companies, Inc., but what they do not tell their clients is where their office is actually located at, taking away American jobs.

[yayamyers]

Originally Posted by thefrogman

The only thing I differ with the other two reviews about is that Curadebt operates their entire call center out of Medellin, Colombia.

Wow, I'm originally from Colombia, LOL>..interesting. We don't even speak English down there...so I wonder how this is?

[elsapo]

yayamyers,

it looks to me that you probably have never been to Medellin, just in case you are wondering, English is fast becoming the second language spoken in Medellin. Check this site out and find out for yourself poorbuthappy - a place for travelers and locals.

[billyboy10]

Y'all I agree with everything you have written - great to add my two cents. I hear care one credit is using Philipine workers, and debtconsolidationcare is using people from India.

I found this online in ezinearticles:

As consumer debt continues to spiral out of control, debt relief is fast becoming a major concern for many American's. In 1999, American's made $1.1 Trillion worth of credit card purchases. In 2001, American credit card debt hovered around $690 billion. Unfortunately, in today's unstable economic conditions, many American's are being forced to turn to credit cards as a way to extend their income. Consumer debt is at an all-time high and American's need to know what they can do to get out of debt. Often, consumers are seeking the services of professional debt settlement companies to help regain control of their finances. However, prior to making such an important decision, it is important to fully understand who you are doing business with.
The most important thing you can do when making the decision get help with your debt related problems is to be an informed consumer. It is absolutely critical to do your research. Do not rush into things; this can cause more harm that good. Prior to signing on with any Debt Settlement company, make sure you ask the following questions and consider their responses:
* Is the debt settlement company you are considering accredited by The Association of Settlement Companies (TASC)? Personally, I would not consider doing business with any debt settlement company that's not! TASC accreditation reduces risk to consumers and gives overall confidence because the member company has been independently evaluated by a third party for its competence and performance capabilities. Any company that truly has the client's best interest in mind will take the time, and make the effort, to do so. While the process can be long and difficult, in the end, it is best for the consumer and the company.
* How much does the service cost? When choosing a solution for debt relief, it's important to make sure the program is something that's affordable and realistic within your monthly budget. If you can't afford the program and join anyway, you're are just causing more long-term financial problems for yourself; however, if you are able to meet the monthly financial requirements of the program, Debt Settlement is a great form of debt relief for unwanted credit card debt. Most people don't realize that Debt Settlement is the quickest and least expensive form of debt relief outside of bankruptcy.
* Does the company offer any type of service guarantee? If so, what is the guarantee? If a company can not get settlement on your debt, you should never have to pay a fee, or the fee should be fully refunded. Additionally, steer clear of any debt settlement company that promises a quick fix to your debt related problems or tells you that debt settlement will not have a negative effect on your credit. Upon enrolling in a debt settlement program, your credit score will probably get worse before it gets better. This is a minor price to pay for being given a substantial debt settlement and not having to file for bankruptcy! However, it is important to realize that if you want to maintain a "good credit rating", you have to pay you bills on time; anything else will cause your credit score will suffer.
* Does the debt settlement company you are considering have IAPDA certified debt arbitrators? IAPDA certified debt arbitrators possess a solid understanding of the laws governing the Debt Settlement industry and fully understand your current financial situation.
* Does the debt settlement company you are considering offer any type of bankruptcy assistance should debt settlement not work out for you? For example, some debt settlement companies will offer a refund of some of the program costs to help pay for a bankruptcy attorney of your choice. Of course, the funds would have to be paid to a licensed attorney and not directly back to you. Again, a company that does this will most likely have your best interest in mind.
* Does the debt settlement company you are considering belong to the local Chamber of Commerce? If so, is the Chamber an accredited member of the Chamber of Commerce of the Unites States? This type of affiliation will help ensure that the company is conducting business in a proper manner.
* Is the debt settlement company you are considering a member of the Better Business Bureau? It doesn't really matter. Unfortunately, the BBB does not yet recognize Debt Settlement as an industry, due to, in my opinion, being misinformed by the credit card industry and their agents, the Credit Counseling industry, about the effectiveness and success rate of its participants. As a matter of fact, in some states the BBB has not allowed Debt Settlement companies to even join the BBB, and the BBB has a rating scale that is skewed to give Debt Settlement companies a D or F rating just for the industry they belong to. This is a disservice for consumers, because it does not allow consumers to distinguish between reputable debt settlement companies and those that are less then desirable. For consumers that are truly interested in doing research to select a qualified Debt Settlement company, a great resource is The Association of Settlement Companies website, which is http://www.tascsite.org TASC is the watchdog group that enforces a strict code of standards and disclosures to its member companies. Companies are monitored through a third party "secret shopper" program to make sure they are consistently upholding the high standards that TASC embodies.