Debt Consolidation Ratings

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Customer Service
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CCD was a good way for me to get back on my feet after missing lots of credit card payments and having two collection agencies after me. The only thing is that once I was able to manage my payments on my own, I still had to follow through with the agency so that my interest wouldn’t go up and also because my accounts were already closed and they credit card company’s would not reopen them, so there was no reason not to stick with the program. I wish I would have known that ahead of time because I would have kept at least a couple cards off the program and managed them myself. I have managed to pay off a few of my accounts and only have about $1800 in credit card debt to go before I am free of credit card debt. My credit score (FICO) was 685 when I first started missing payments and before I was on the program, while on the program my credit score dropped to 485 in the beginning due to me missing payments for three months on most cards, and it is now back up to 628 after a little over two years on the program and all my lates have gone off my 24 month window, but are still going to be there for another 5 years. This program doesn’t really help you repair your credit, it is just a way to get out of debt and maybe learn some money managing skills. You also need to have stable employment while on this plan because you have to pay every month. While your payments will drop as you pay off your accounts, it takes a long time to pay accounts off – over a year before I paid off my first account. Once you pay off one, it gets easier to pay off another as long as you keep your monthly payment amounts the same. They do cut up all your credit cards in front of you when you join and it’s a bit embarrassing, but their counselors do this for a living so whatever! Overall, I am glad I went on the program, but it did teach me a hard lesson never to get into credit card debt again. Only reason I was is because I paid my way through college on loans and credit cards because my family could not help me pay. Too bad for me!