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1. would it be best for me to order a copy of my credit report to get started?
2. i see "charged off" in a lot of these posts - what does that mean?

suddenly, i had $11,000 in credit card debt. i was not delinquent on any account but wanted to get ahold of the situation. three years ago i (ignorantly) signed up with a settlement company- ji financial. they sold me to fornia, luftman and heck. this has turned out to be a very bad decision. i have paid $200 every month for the last three years and they settled one account - not even the largest.
i have decided to take my head out of the sand now but i need some guidance. i have terminated my agreement with that company but i am not sure what to do next...




Your first step to repair your bad credit is to pull a copy of your credit report from the three bureaus. You can list the name of your creditor and send them a payment plan. Do not stretch your monthly payment in case if it becomes tough for you to pay in the later period. I am sure the creditor will accept your payment plan and you will be able to clear it faster.

Charged off debts are those debts which become uncollectible and hence are turned over to the collections. It is advised to keep the debts current otherwise debt in collections is a negative remark and will hurt your credit for 7 years.

Comparing to debt settlement programs, consolidation programs are much better as they help in improving your credit file. You might like to read this article to understand the basic difference between both the programs:

http://www.debtconsolidationcare.com/forums/comparison.ht ml

You can register yourself in this site for a free counseling and know more about your repayment options. I believe that the consultant will be able to choke out a payment plan and help you in achieving a debt free life faster.

Similar to your problems, I also took the help of a debt consolidation program with this company. I am happy to see the improvement in my credit file.

Sub: #1 posted on Wed, 10/19/2005 - 14:44

ben ben

(Posts: 2034 | Credits: 426.36)

i think that there are more importent things in life that are more concerning then just to get a good settlement coz people should be happy that atleast them people who have got a bad settlement hav a settlement. imagine the people without honme and the people who dont even live under neth a roof

Sub: #2 posted on Mon, 12/12/2005 - 11:11

Unregistered


Shammi

A credit file is the most important financial report in his entire lifetime. It should be his prime concern to maintain its worthiness so that he gets access to new credit with respect.

Sub: #3 posted on Mon, 12/12/2005 - 13:32

ben ben

(Posts: 2034 | Credits: 426.36)

i am also with this agency and they are not doing anything for me either. how do i get out of the contract?

Sub: #4 posted on Thu, 02/23/2006 - 07:26

Unregistered


lori,

Selecting a good company is very important. You are going to hand over your finance to them after all! And your finance always should be in good hands. People doing consolidation with debt consolidation care are very happy with the service offered to them, have a look-

http://forums.debt cc.com/customer-service.html

Contact with your settlement company and tell them that you want to cancel the contract. That's it. Make sure that they give you some written document of cancellation.

Sub: #5 posted on Thu, 02/23/2006 - 10:46

stanley stanley

(Posts: 1640 | Credits: 23.96)

fornia, luftman and heck will not take my phone call to cancel my contract. what can i do? can i just not put the money in my account for their payment? please help me. i am in desprite need. thank you, lori

Sub: #6 posted on Fri, 03/03/2006 - 07:35

Unregistered


Lori,

Do you have any papers of agreement? Please check it carefully if it states anything on how to cancel the contract. So you can simply follow the procedure.

Otherwise write them a letter and clearly state that you want to cancel the contract. You can also mention the reason why are doing so. It will help them understand your problem as well and perhaps they will make some arrangements to satisfy your requirements. Hope this helps.

Sub: #7 posted on Fri, 03/03/2006 - 10:55

stanley stanley

(Posts: 1640 | Credits: 23.96)

i tried getting ahold of the settlement company to cancel my membership, because they were not taking care of my settlement with the credit cards, the wouldn't take my calls, so i cancelled my bank account and sent them an email. did i do the right thing? thank you, lori

Sub: #8 posted on Mon, 03/20/2006 - 12:08

Unregistered


lori,

If you had started paying some of your creditors through this settlement company, obviously they will not receive the money from the next month. So you have to take care of them as well.

I hope you have checked the papers of agreement with the settlement company. If not recheck it just to ensure if they follow some particular procedure to cancel the contracts.

Sub: #9 posted on Mon, 03/20/2006 - 12:20

stanley stanley

(Posts: 1640 | Credits: 23.96)

on there website, you cannot see the agreement because the writing is to small. also it will not let you print it off. the whole agreement will not print out. i got in contact with the creditors myself and worked something out with them. the lawyers did pay one creditor because they were getting ready to take me to court. what else should i do? the settlement company will not take my call, and i emailed them a letter stating that i am cancelling. thank you, lori

Sub: #10 posted on Wed, 03/22/2006 - 12:51

Unregistered


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