UnThreaded | Threaded | Whole Thread (4) | Ignore Thread Prev | Next
Author: jimmyg7 Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 310163  
Subject: Re: Credit Card Debt and Genus Date: 5/3/2000 5:28 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
I'm just beginning to research debt counseling companies and was also referred to Genus by two of my creditors. Unfortunately, I found out that Genus and many other debt counselors cannot help me in Michigan because of a state law prohibiting their business unless they have an office in the state.

I have discussed my options with CCCS and was given a reasonable repayment plan. My worst fear, though, is turning over the control of my payments to a third (and not-all-together-impartial) party. Having just read through the Fool School's "Getting Out Of Debt" lessons, I think I'll try threatening bankruptcy first to lower rates myself. I've tried explaining my situation to negotiate a better rate, but get no better than temporary answers and referrals to yet another debt counselor.

I'd appreciate any other ideas or success stories on getting better rates from creditors. Thanks!

Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (4) | Ignore Thread Prev | Next


TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
Post of the Day:
Berkshire Hathaway

Questioning Amazon's Financials
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.