Anyone use Curadebt? (funds, pay, rates, credit report)

[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stays on your credit report for seven to ten years and generally cannot be removed unless it is incorrect or outdated.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.

[FLPL75]

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 !!!

[no kudzu]

all this still doesn't change the fact that most people can take care of these things by themselves without having to pay commission. Buyer BEWARE.

[bls5555]

Thoughts. This or bankruptcy? I am going to lose a house so ruining credit isn't a biggie at this point. Any thoughts on this debt relief company? Any other ones that you could suggest?

[Maryolson929]

Talk to a non-profit such as Lutheran Social Services. Be VERY careful about the debt consolidation firms out there. Many are a rip-off.

[AlfredB1979]

Nothing you can't do on your own.

All you will be paying Curadebt to do is tell you what expenses need to go and where your money needs to go after that. You know you've been facing the possibility of losing the house, so the FOR SALE sign should have been out a long time ago--that kind of stuff.

What a concept.