Beware of the Boom in “Debt Help” Companies

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Beware of the Boom in “Debt Help” Companies

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Rising food costs, ridiculous gas prices, more and more people being let go from their jobs… each one of these can cause a financial hardship.  But these days, we are experiencing all three and more.  We keep hearing the same story, “it’s getting impossible to make ends meet.” 

 

With an increasing number of people falling on hard times comes an increasing number of “debt help” companies who promise they have the best solution.  Settlement and debt management companies and bankruptcy attorneys; they are coming out of the woodwork and making big promises.  This has me very worried.  It worries me because people experiencing financial difficulties will see these promises and might sign up with the first company and product they hear about.

 

Do Your Research! 

The number one industry in Better Business Bureau (BBB) and Attorney General complaints right now is debt help.  In fact, the FTC is holding conferences to work on this growing problem of people signing up for the wrong program with the wrong company.  If you are thinking of getting help from one of these companies, check first with the BBB to see how many complaints they have and if they are in good standing.  Also, be sure that the program the company is selling is the right one for you.

 

CareOne’s Approach

At CareOne, we strongly believe that one program does not fit every need.  When a customer calls us, our Solutions Coaches carefully review his/her situation.  We have teamed up with the best in class providers to be able to offer our customers options.  Since we offer multiple solutions we can recommend the best alternative for each customer’s individual situation.  It may be debt management, or settlement or worse case, bankruptcy.

 

It may even be to do nothing but find ways to cut on monthly expenses.  The bottom line is that you will have had a detailed discussion to figure out the best way to get you out of debt with the best provider for your situation.  Additionally, if along the way your situation changes and you decide the program you are on no longer works for you, we can help you transition easily to a different solution.  Our main goal is to help each and every customer achieve their dream of becoming debt free.

 

Multiple Solutions

Think of this; if you contact a company that offers just one solution, the only two options you have are to sign up for that plan or do nothing.  What if neither of those are the right solution?  I urge you to take the time to research your options.  There are a lot of great websites out there including ours.  Learn the difference between all the “debt help” products.  Find ways to cut on every day expenses.  

You can get through these hard financial times. 

 

You just need to make sure you find the right way.

 

 

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  • I read one blog concerning Discover Card.  The blog said that Discover Card does not recognize a settlement action.  I have been wondering if this was the right decision to do something about Discover card.  I am hoping they can accept a settlement  Right now, I am experiencing a difficult time with my husband going through recuperating from a stroke, social security disability with him.  We also had a major setback with our electrical wiring to be replaced throughout the whole house. My savings went for the repair work.  I basically have reduced the weekly food bill. I returned my leased vehicle. I do not go anyplace to spend any money. I am so worried if soemthing happens I will not have the money .  I am also now looking for a second job to help.  My father who is not in good help is living with us.  I am getting anxiety attacks form worrying. Please help"

  • I would like some help and reassurance concering deb settlement.  I want to do the right thing but I heard negative ideas about Discover Card not taking settlements.  What can be done.  

  • In every problem there is a solution, our part is to make a wise decision,CareOne is the best solution in our financial problem although we just start in DMP last Dec 3,2009  me and my husband was continue praying that all of our creditors will accept the proposal,I believed Jan 2010 is the starting year for us to deliver in our financial problem.I was so inspired reading those message in post,comment that some member testimonies on how they set free in debt through this CareOne DMP Program.may our good Lord Bless this Company....more power!

  • I just started my program in August and Discover Card did not accept the proposal. In fact, when they called one day right after I started my program, I informed them that I just begun the process of joining a Debt Management Plan. They took Care One's information from me and within a week I had a letter from some law company informing me that... "This is an attempt to collect a debt...."

    They closed my account and reported me to collections without even telling me that they would not accept the proposal or trying to work with me.

    Of all things, how Discover treated me made me very upset because I was a Discover Card holder since undergrad which was 10 years ago. I was very disappointed on the way Discover handled the situation.

  • I just started my program in August and Discover Card did not accept the proposal. In fact, when they called one day right after I started my program, I informed them that I just begun the process of joining a Debt Management Plan. They took Care One's information from me and within a week I had a letter from some law company informing me that... "This is an attempt to collect a debt...."

    They closed my account and reported me to collections without even telling me that they would not accept the proposal or trying to work with me.

    Of all things, how Discover treated me made me very upset because I was a Discover Card holder since undergrad which was 10 years ago. I was very disappointed on the way Discover handled the situation.

  • I had a discover card also. I joined the settlement program in August and when I got the phone call from Discover, I informed them that I had started this program. The gentleman who called me was glad to hear that I had joined this program and said that I would not be getting any more phone calls once they had received the paperwork from CareOne. He was right, I haven't heard another word from them. I did however, receive a settlement letter from Discover and it was not long after I joined the program. I hope that this will help the rest of you out there who are worried about Discover Cards. The only thing I can say is that I had already been turned over to collections before I started the settlement program. This may make a difference. Good Luck to you all.

  • Discover will finally accept the program but they are by far the hardest to deal with. Chase and Citi accepted the proposal right away. I made 3 payments before Discover acceoted. Oh and the wanted 1 more dollar per month each month started at 90 and ended up at 93 per month.  

  • JUST GETTING STARTED AND PRAYING!!!!!

  • Extremely worried and unsure about Care One at this point in time.  I signed up for their DMP in October.  I'll be making my 3rd payment on 12/20.  At first things seemed to be going as I had hoped for and then the letters and calls started coming in.  I've talked to two different C/S Reps who had two totally different stories to tell.  Neither one could/would answer my questions.  Neither one could/would help.  Neither one would provide me requested information (WHAT is the language in the proposals sent to my creditors?).  Now I am very suspicious.  Why is it I can make an electronic payment from my checking account to other companies and have the transaction clear in 24 hours but when Care One receives my payment electonically on the 20th of each month it takes them two weeks to pay my creditors?  What are they doing with my money for two business weeks?  Short term investments?  Making a profit?  Why can't they, or won't they, answer my questions?  Did I hit a nerve?  WHAT IS THE LANGUAGE IN THE PROPOSALS SENT TO MY CREDITORS?  HOW CAN I OBTAIN A COPY OF THE PROPOSALS SENT TO MY CREDITORS?  SINCE THE PROPOSALS SENT TO MY CREDITORS ARE GENERATED ON MY BEHALF AREN'T I ENTITLED TO REVIEW THEM?

  • CARE ONE PLEASE RESPOND TO TPPAYNE,  HE WROTE ON 12-12-2009   RE:

    Extremely worried and unsure about Care One at this point in time.  I signed up for their DMP in October.  I'll be making my 3rd payment on 12/20.  At first things seemed to be going as I had hoped for and then the letters and calls started coming in.  I've talked to two different C/S Reps who had two totally different stories to tell.  Neither one could/would answer my questions.  Neither one could/would help.  Neither one would provide me requested information (WHAT is the language in the proposals sent to my creditors?).  Now I am very suspicious.  Why is it I can make an electronic payment from my checking account to other companies and have the transaction clear in 24 hours but when Care One receives my payment electonically on the 20th of each month it takes them two weeks to pay my creditors?  What are they doing with my money for two business weeks?  Short term investments?  Making a profit?  Why can't they, or won't they, answer my questions?  Did I hit a nerve?  WHAT IS THE LANGUAGE IN THE PROPOSALS SENT TO MY CREDITORS?  HOW CAN I OBTAIN A COPY OF THE PROPOSALS SENT TO MY CREDITORS?  SINCE THE PROPOSALS SENT TO MY CREDITORS ARE GENERATED ON MY BEHALF AREN'T I ENTITLED TO REVIEW THEM ?

  • CAREONE COUNSELORS SEEM TO CARE LESS THAT THEIR CLIENTS NEED SPECIFIC ANSWERS TO THEIR SPECIFIC ACCOUNTS, NOT RESPONDING WITH" ONCE ACCT IS SET UP WE DO NOT CONTACT THEM WITH.. PAYDATE CHANGES OR OTHER TRIVIA.." IF YOU CHOOSE TO CHANGE YOUR PAY DATE THEN YOU WILL BE CONSIDERED CONSTANTLY PAST DUE UNLESS YOU CALL THEM AND ASK THEM TO CHANGE THE DUE DATE..WHICH THEY USUALLY WON'T ANYWAY... I FEEL SITUATIONS LIKE THAT SHOULD BE HANDLED BY CARE ONE "COACHES"......BEFORE YOU MAKE WRONG DECISIONS ON YOUR OWN....ALSO, WHEN ASKING WHY GECAREONE HAS HARDLY REDUCED MYH BALANCE AFTER 12 MONTHS..I GET NO RESPONSE EXCEPT" WOULD YOU LIKE TO REMOVE THEM FROM YOUR ACCOUNT????   THANKS ALOT, CARE ONE!!!

  • CAREONE COUNSELORS SEEM TO CARE LESS THAT THEIR CLIENTS NEED SPECIFIC ANSWERS TO THEIR SPECIFIC ACCOUNTS, NOT RESPONDING WITH" ONCE ACCT IS SET UP WE DO NOT CONTACT THEM WITH.. PAYDATE CHANGES OR OTHER TRIVIA.." IF YOU CHOOSE TO CHANGE YOUR PAY DATE THEN YOU WILL BE CONSIDERED CONSTANTLY PAST DUE UNLESS YOU CALL THEM AND ASK THEM TO CHANGE THE DUE DATE..WHICH THEY USUALLY WON'T ANYWAY... I FEEL SITUATIONS LIKE THAT SHOULD BE HANDLED BY CARE ONE "COACHES"......BEFORE YOU MAKE WRONG DECISIONS ON YOUR OWN....ALSO, WHEN ASKING WHY GECAREONE HAS HARDLY REDUCED MYH BALANCE AFTER 12 MONTHS..I GET NO RESPONSE EXCEPT" WOULD YOU LIKE TO REMOVE THEM FROM YOUR ACCOUNT????   THANKS ALOT, CARE ONE!!!

  • I just joined and am a little upset after reading the asbove comments-hope I did the right thing!

  • How nice to read all this. I haven,t made my first payment , yet, do y'all think I should cancel it, has anyone?

  • My coach tol me that my creditors would be paid on the date taht I sent my payment to Care Credit .

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