National debt relief program - Is it a scam in USA?
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National Debt Relief Program is a debt relief plan, offered by an US based settlement company named National Debt Relief. A DebtCC member, named istyblue901 said that National Debt Relief sent her unsolicited debt settlement proposal claiming they are a Government agency and they can reduce the debt balance to an affordable amount. However, most of the consumers enrolled in the National Debt Relief Program have given negative feedback about it in the DebtCC forums and said that the company fails to deliver what they promise. To know more about National Debt Relief Program, check out the topics given below:
How do people review National Debt Relief Program?
According to some consumers, National Debt Relief Program is a scam. Customers feel that the program is all about settling unpaid dues for less than the original balance. They say that anyone joining the program is asked to stop making payments before the company starts negotiating with the creditors. However, the negotiations don't begin until the customer accumulates enough funds for the settlement. This hurts the customer's credit scores big time.
Here are some observations that consumers made about the program:
- A way of making money: A poster in the DebtCC forums claims that National Debt Relief Program is a scam. He says that the company offering the program does little to reduce the debt payments; rather they are more concerned about making money. Read more.
- No written document: A person says that the company does not provide you with any written document. So, you are unaware of whether there has been any agreement between them and the creditors. He feels that when you have no written agreement, you can do nothing if you end up being sued by the original creditor. Get the details.
- Misjudged as Government agency: Some customers say they misjudged the company as a government organization. However, the company bears no connection whatsoever with the National Debt Relief Stimulus Plan which is a government-backed program offered to those who are struggling to pay their bills. Neither does it have any connection with National Credit Relief Agency which is a financial counseling company. Know more.
Has anyone had any good experience about this program?
Some people say that they've really benefited from the National Debt Relief Program. A few of those experiences are given below:
- The program is helpful: A customer claims that the program really helped him in settling the debts. He says that he was able to settle debts worth $80k for just about $30k over a period of 3 years. He also stopped getting calls from creditors after he enrolled in the program. He claims that the program helped him increase his credit scores even up to 650. Find more.
- The company is reliable: Another person says that the company supposedly offering the National Debt Relief Program, has a B+ Rating with the BBB and is a memeber of TASC, USOBA and IAPDA. He says they are not a scam company in any way. They actually negotiate with your creditors and help you get rid of debts. Check out in detail.
It's important that consumers do research thoroughly about any debt relief company prior to enrolling in their program. They should check the licensing status, accreditation and consumer feedback before going for programs like the one offered by National Debt Relief.
Sub: National debt relief program - Is it a scam in USA?
Mon, 02/03/2009 12:19
Pardon me while I express myself. Where is OUR bailout? The Govt. is paying companies with taxpayers money to help keep them afloat. We, the people, ask for an affordable plan for us to repay our debts without the high interest rates and fees. But no-one wants to help, they just want to take more. So again, I asked where is our bailout?