| National Credit Relief |
| National Credit Relief Bureau NCRB BEWARE OF HIDDEN FEES!!! Plantation, Florida |
| 20th of Jan, 2011 by User807063 |
I was told I could reduce my debt by 45% to 55%, possibly more. They told me not to make any more payments to my creditors, so naturally, my credit is ruined. At that point, I stupidly thought this program was my only option so I enrolled & signed their paperwork. After adding in their monthly maintenance fee,my debt was reduced a third. In the many conversations withseveral different respresentatives of this company,NEVER, was a monthly maintenance fee mentioned. I would have been better off trying to work out an arrangement with my creditors. Make sure you read the fine print & all paperwork word for word BEFORE you sign - even it it takes you a couple of hours!They will let you cancel, but they will not refund your money -any payments you makegoes to maintenance fees first!
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| I totally agree with your statements. My credit has been ruined as well and they took all of their fees up front. All I was guaranteed was that they could get the debt reduced to 40%, but in receiving the settlement offers directly from my creditors...they were offered to have the debt reduced to 45% (which was way cheaper than the NCRB fees and the amount to settle). Also, they don't work with any urgency, so once again, your credit continues to stay ruined. I strongly recommend that you attempt t work with the creditors directly- avoid companies such as NCRB. |
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We are a honest Company. Any questions or concerns please call me with any questions
Barry W. Medina
View this video on the BBB (Better Business Bureau 20/20 Investigation)
http://www.youtube.com/watch?v=Yo8kfV9kONw&feature=player_embedded
NCRB= National Credit Relief Bureau we are FTC Compliant
What is Debt Negotiation or Settlement?
Debt negotiation or settlement companies provide consumers with a method of debt resolution known as debt settlement. Debt settlement is an aggressive method of debt resolution that depends on the willingness of creditors to negotiate, and the ability of consumers to save sufficient funds prior to beginning negotiations.
Will this strategy work for me?
While the Debt Negotiation Plan approach is not suitable for everyone, its flexible nature makes it applicable to a wide range of financial circumstances. For individuals and families seeking an alternative to bankruptcy, there is simply no better option to get out of debt. Here are a few guidelines to help you determine whether or a Debt Negotiation Plan is something you should consider:
• Do you have a legitimate financial hardship condition? Most debt problems are caused by loss of income, medical issues, and/or divorce/separation. These are legitimate financial hardships that can happen to anyone through no fault of their own, and any one of these circumstances can wreak havoc on a household budget. The important point here is that a Debt Negotiation Plan system is not a "free lunch" for people who don't feel like paying their bills. If you are over your head due to a hardship situation, and you would prefer to work things out with your creditors rather than declare bankruptcy, then Debt Negotiation can provide an honest and ethical debt relief alternative.
• Are you committed to avoiding bankruptcy? Debt Negotiation is best viewed as a bankruptcy alternative, one that allows you to keep control over the process and maintain privacy while working through your financial difficulties. As with most things in life, success is determined by your level of commitment to staying the course, even when hurdles get in the away. The road ahead can be a little bumpy and if you are likely to give up at the first rough spot, then debt settlement is probably not the best choice for you. But if you are determined to find an alternative to bankruptcy, Debt Negotiation will likely be the most attractive debt solution for you.
• Do you owe more than $10, 000 in unsecured debt? We are the first to admit that Debt Negotiation is strong medicine, and it should be reserved for serious debt problems. While everyone's budget is different, most people can work their way out of smaller debt obligations. If you only owe $5, 000, for example, unless you are really in dire straits you can probably deal with that obligation the old-fashioned way - by paying off the debt in full, over time. In other words, smaller debt loads are more of a budgeting problem than a serious financial hardship. We use the benchmark of $10, 000 for evaluating whether or not a prospective client qualifies for our program. (Note: Exceptions are sometimes made based on hardship circumstances, so the $10, 000 figure should be used as a rule of thumb or guideline.
How does this program work?
Debt Negotiation works by reducing the balance owed (principal) on your unsecured personal debt accounts through the time-honored process of creditor negotiation. This is different from simply reducing the interest rate as with a Debt Management Plan or Consumer Credit Counseling, which do not affect the total debt balance. By reducing the balance itself, Debt Negotiation provides a much faster means of becoming debt-free. Most creditors are willing to accept 50%, 40%, sometimes as low as 20% of the balance owed in order to close out an account rather than lose the entire amount in a bankruptcy proceeding. From a business perspective, it is a matter of the creditor receiving something rather than nothing, as would be the case in most bankruptcies. Of course, different creditors have different policies, but as a rule, discounts of 50% or less achieved over a period of 18-36 months are common in the industry. As a result of this approach, money that was previously wasted on endless minimum payments (most of which went toward interest charges) goes toward reducing the actual debt balance. Debt Negotiation is the fastest debt elimination method short of Chapter 7 bankruptcy.
What happens to my credit?
The effect of our Debt Negotiation Plan on your credit score will partly depend on your current credit status before starting the program. Few people with debt troubles have perfect credit to begin with. In general, your credit score (usually called the FICO score) will decline during the program, and will begin to improve again after you have become debt-free. There are several key points to bear in mind here. We recommend against applying for new credit while going through the program. It simply doesn't make sense to take on new debt while you're trying to tackle your existing debt problem. So the short-term decline in credit score is rarely a problem for clients. Also, the credit score itself does not take into account the debt-to-income ratio, which is used by lenders (especially in the mortgage industry) to determine whether you qualify for a home or auto loan. In other words, you can have a high credit score due to a clean payment history (even though it's been hurting you financially to keep up those payments) and still be denied a new loan because you already carry too much debt. Your credit score will definitely go down while you are in a settlement program, but you must consider what is more important- your score or dealing with your debts. A settlement company can't provide credit repair, score improvement or help your score in any way, but we can address your debt.
Keep Moving Forward!
We Keep Moving Forward, opening new doors, and doing new things, because we're curious and curiosity keeps leading us down new paths.
-Walt Disney
Barry W. Medina, District Manager
National Credit Relief Bureau | AmeriLend Mortgage Company | 8050 SW 10th Street Ste 1800, Plantation, Fl, 33324
Office 877-556-6272 | Fax: 954-370-8285 | Direct: 954-650-6926
Web:http://www.nationalcrb.org
IMPORTANT NOTICE: This information is intended for the exclusive use of the individual or entity to whom it is addressed and may contain information that is proprietary, privileged, confidential and exempt from disclosure under applicable state or federal law. You are hereby notified that any unauthorized copying, disclosure or distribution of this information is prohibited. If you have received this communication in error (or are not an employee or agent responsible for delivering this information to the intended recipient), please immediately notify the sender to arrange for the return or destruction of the information and all copies. |
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Also call us local
Office 954-370-8015.
Web:http://www.nationalcrb.org |
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