I owe, I owe

Vixen78

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Mar 18, 2006
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Savannah Vixen Marie
I am feeling the need to vent after a frustrating phone call.


I seriously think that credit card companies are only around to keep us in debt!


I’m sure many of you can relate, most of us have/had a credit card or two… Sadly most of us are in debt, some more so than others. But I’ll be honest as I have nothing to hide… Just in credit card debt, I’m close to $9,000.00 with the 4 credit cards I have recently consolidated.


*Going back 12 months*
Like most people, I was making these minimum payments every month and adding a little more when I could afford too. I got to thinking that since I’m paying out so much a month, that I should look into a Debt Consolidation Plan… Just to see if I could still make the payments with out having to spend close to $320.00/ month.


After some research I stumbled upon Care One Credit, and put in all of the info and decided that I would go through them and consolidate my 4 credit card payments into 1 lesser payment. Although the savings wasn’t much, I was able to set it up as on automatic payment straight from my checking account. Care One took out $293.00 on the 20th of each month and split that between the 4 creditors.


Things were going well, until around the holidays and an unforeseen expense popped up, I called Care One and let them know in advanced that I could not make the payment for December. They understood and said it shouldn’t be a problem as long as I could make my payment in January. Keep in mind that each credit card account on this plan is now void. I can no longer use those credit cards to purchase anything. So all I have is what’s in my checking account.


January came and I made that payment as scheduled… February came and I was unable to make that payment, as it was a short month and my rent took priority. Well after calling Care One to let them know I wasn’t going to make another payment, they suggested that I get in touch with Persels & associates and work with them as far as getting me into a better/ more affordable plan.


I did just that, they walked me through a Financial Statement and saw that I clearly was having trouble making the $293.00/month payment. They came up with a plan that was a win/win and they wiped away a good chunk of what I owe! What was around $9,000.00 is now close $6,500.00! Now my payments are $111.60/month for the next 60 months.


You can imagine my excitement after hearing that good news! The only downside to all of this is now the 4 Creditors don’t have to accept this new plan. In my case it seems that 2 have and 2 have not. I was advised from Persels to not discuss my debts with these creditors as they will handle any questions and attempts to collect a payment.


So far Household Bank was the first to rebel and thought they’d call me at least 5 times a day between 10am and 9pm, yes even on Sunday. Finally I answered the phone and told them they need to contact Persels and stop calling me. They agreed to stop calling for a couple of days and then started back up 5 times a day for the next week, never leaving a message… That’s so irritating! But thank god for caller ID



I called Persels to let them know that I was getting 101 phone calls from HSBC and again was advised not to talk to them and a Cease and Desist order was sent to everyone on the plan to stop calling me…. Well it seems that worked, but now I have Capital One calling my cell phone many times a day and never leaving a message.


*Bringing you up to an hour ago*
I was stupid enough to answer their call today, and it was Capital One wanting to confirm my address, which was wrong… they wanted more info from me to make sure they have the right person. I asked the reason for the call before I offered any info, and they wanted to let me know that my account was passed due 75 days and wanted to know what I was going to do about it.


This conversation went around and around and around… them telling me over and over I was passed due and that a payment was not made since January 2009 in the amount of $86.00…. And me telling them that I have automatic payment taken out every month for my credit cards in a consolidation plan, this one being one of them, and it seems to me that no one is updating my account and showing that I’m making a payment. So now my credit score is in the toilet.


I got the same response from both HSBC and Capital One, They want to talk with me and harass me about sending them a payment… I refer them to Persels as they are taking the money out of my account to pay off my debts, and of coarse they don’t want to contact Persels. No No, the creditors would rather tack on late fees and over draft fees onto my account that I no longer have a credit card for, and they refuse to close the account and have no intention of stopping the ridiculous fees and interest, making it impossible to ever get out of debt!


When a credit card debt goes into collection or is part of a consolidation plan, that account should not be able to add to the existing debt. The amount owed should never extend passed the credit limit. That’s why the “DECLINE” feature was added, so that you could not go beyond your credit limit. Yeah I know some of you may not agree and think it’s up to you to know how much is on your credit card… But if that were the case the the mere fact that there is a credit limit wouldn’t exist… You could swipe that card as many times as you wanted and just keep digging yourself in further. The decline feature is put into place to help us NOT over spend.


But the way these credit card companies are today, Not declining your purchases after you’ve reached the maximum limit, holding onto your payment a few extra days so they can tack on a “Late Fee”, and charging you fees after your account has gone into collection. How do these people sleep at night?


I know that my credit score has taken a big hit, Even though I’m not entirely to blame (those of you that have gone through a divorce know exactly what I mean), I will pick myself back up and dig myself back out of the hole I’m in. It’s all I can do as there is nobody offering to do it for me :rolleyes:


****************************************


After doing some research on Persels & Associates it seems that this company is NOT working in my favor. The Better Business Bureau has given them a C- rating. After going through my contract (plan of action) I was mistaken in thinking that Persels would “pay off” my creditors and I intern would make the 1 low payment to Persels…


That is not the case at all… Seems what is happening is Persels is taking $111.60 out of my checking account every month and from that, they take $95.00 for them self ( for the first 5 months) (then $65.00 for the next 5 months) and hold the rest in “my account” and once there is enough in “my account” to negotiate with my creditors, then each will see a payment.


I have 4 creditors on my plan and I called all of them the other night just to see how much I owed and when each received the last payment, as they are all calling me and telling me that I’m 75 days passed due… Which doesn’t sit well since Persels is suppose to pay them…. I guess it’s hard split $16.00 four ways and my creditors have NOT seen a payment since January 2009 when I was still on the Care One plan.


I will call Monday and cancel my so called plan with Persels… knowing full well that they will want their $150.00 termination fee which is BS as they have done nothing for me nor have they made any payments to my creditors…. Ofc the creditors are pissed off, under this plan they won’t see any money for 6 months… That just looks terrible on my credit report, I’m sure Persels could care less as they will not be the one the creditors sue.


I should have never left the Care One Credit Plan… at least my creditors were getting paid… Now I doubt they (creditors) will want to work with me at all as it looks like I don’t care (from my credit report). When that isn’t the case at all.
 
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