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Author: devlishz Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 308470  
Subject: OK, so I was stupid... Date: 6/16/2000 3:27 PM
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Yep, I should have done a little more research on Ameridebt BEFORE I signed up..However, I've already signed up. I am glad that in doing research after the fact, I found this site!!
First let me say, I wasn't behind on any of my payments, the only reason I signed up with ameridebt was I wanted lower interest rates, and fewer payments to remember every month. The 19% interest rates were making it impossible to pay off any of the cards even though I don't use them any more. I have copies of my credit report from the 3 major agencies - I have 2 minor faults (30 days late) but other than that - everything else is good. My main problem is the amount of unsecured debt/number of active accounts I have.

My counselor advised me not to make any payments on my cards even though they are due before the payment to ameridebt is due. I've already had 2 companies calling me on overdue payments. I explained that I was going thru Ameridebt and that they told me not to make separate payments - that they would handle all the negotiations with the credit card companies. I was informed that until a proposal was received by the credit card company, I would be considered overdue. I called Ameridebt and talked to my "counselor" who was rather put-out that I was questioning their practices. He said they couldn't submit a proposal without my first payment - which is due after several of the card due dates. I pushed and he finally agreed to "break the rules" and fax the proposal to the one company ahead of time. That was monday - I checked with the credit card company today and was told they hadn't received anything.

1) When I discussed the overdue situation with the "counselor" he assured me that all the accounts would be "re-aged" and wouldn't reflect on my credit report as being late. What exactly is "re-aging" an account, and, is this something they can do or is he just shutting me up?

2) If I do decide that they aren't living up to their promises and want to no longer use them, how do I go about contacting the creditors and making my own payments under the same agreements as ameridebt sets up? I noticed that a couple people have stated that they managed to do this.. I would appreciate some info - I have a feeling that I will need it.

I crossed out the voluntery fee section and wrote that I do not wish to contribute at this time on the contract before faxing it to them so I hope that I'm covered there.

thanks so much,

Lanna
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