Ok. I have 17k debt throughout 4 different credit card. I talked to one of agent and freedom debt relief and he said he settled it with 8.7k with credit card company and I only have to pay $266 a month for next 46 months and don't have to pay anything to those credit card companies. He told me it won't leave any record that 3rd party paid it off or I was on debt program. Sounds very good.
But what happens to my credit card? I was told not to use them anymore. Do I open up new one?
sophieb2016-01-27T17:05:22Z
ok so he wants you to pay $266 x 46 months = $12,236 So $12,236 less $8,700 means he will get around $3,536 from you and will close your credit card accounts and cut up the cards for you. Are you sure you can't do this $17K all by yourself? Like google Dave Ramsey, the financial guru's website. Actually it's like Consumer Credit Counseling, a government program, and both CCC and theirs WILL show up on your credit report, so it doesn't sound that good if you have decent income and can do this yourself. You can't open a new account because creditors will see the notations on your credit report. See not paying what you owe is one thing but continuing it is called fraud and is jailable and that's why they won't give you credit.
Most of your money will go to the company instead of your debt. You don't need them. There are non-profit credit counseling center is every major city. They can help you pay down your debt and they don't charge a fee, or if they do, it's a small one compared to what DRPs charge.