Consolidating debt reviews
Also, doing this through one phone call was an incredible relief. - Anonymous When we were late on our credit card payments, the credit card companies raised our minimum monthly payment and our interest rate.I appreciate the monthly updates and advice about how to improve. ACCC has helped us by consolidating all our credit card debt AND reduced our interest rates dramatically. I can't tell you how awesome it is to watch our credit card debt disappear.I love seeing our statements each month, seeing the balances go down.With only 10 months or so left in the program, I can see the light at the end of the tunnel! I have and I will continue to recommend ACCC even when I'm finished with the program.
The payment plan works well and the creditor phone calls have stopped.
DMPs can also provide welcome respite from creditors calling about overdue accounts, as they generally stop when the plan begins. Agency reports do not reflect the interest that you're still being charged, so if you don't submit them, the balance the agency reports will be wildly different from what your bank statements say. One of the agreements you make when entering into a DMP is that you will close the accounts and not get any new ones until you are debt-free.
Many clients get a rude awakening when they think they're all paid off, only to find they still are in the hole for thousands. This can be a mighty difficult adjustment if you're used to whipping out the plastic on a daily basis. After all, if you are still charging while repaying, you're spinning your wheels.
Client comments are included for informational purposes only.
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