I enrolled in Budget Right Debt Management in May and was told that not only would they lower my interest rate and monthly payment, but that it would not be reported to my credit bureau that I was working with a "credit counselor" because they were a private firm.
Its now August 27, and although I've paid more than $1436 to the company, they have yet to make a payment on any of the accounts I've included in the plan. Also, until I enrolled in this plan, I had NEVER been late on ANY of my payments. Since my enrollment, all accounts on the plan are now being reported as 90 days past due on my credit report. Not only that, but all of the accounts included on the plan are annotated on my credit report as "Managed by debt counseling service."
I called Budget Right and spoke with "Linda." Linda told me that my accounts would be "re-aged" and that the late payments would be removed from my credit reports. Linda also stated that THEY don't report the fact that I am working with them, but that its up to the individual creditors.
In the mean time, I'm still getting charged over limit fees, late fees, and all but one of the accounts I included in the plan has been "Closed by credit grantor." I was a 760 beacon before this company-now I can't even get approved for a mortgage because of how they've ruined my credit.
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