First of all, one thing I found unsetlling about the credit exchange was the different telephone numbers that kept coming up on my Caller ID. I have area codes from Maryland, Florida, and Arkansas, but the person that called the most was in the Pacific Time Zone. None of the numbers that were on my phone matched numbers provided by the representatives of the company (I've spoken to 3).
I am told to sign, and begin paying the money that would go to my bills to the credit exchange, and let my bills go unpaid for 3 months while they "negotiate" with my debtors. During this time, my cards go delinquent, and this can be reflected on my credit report, I was assured this would not happen. I read through all the paperwork sent to me via email, and no trace of any physical address exists on the website, or in their documents, which include a BBB report from the state of Florida. I looked at BBB of florida, and found nothing in regards to this company, perhaps the included form is a fabrication? And why do they have a BBB Florida report when some of their contacts are in California? Arkansas? Maryland?
Rather than go out on a really fragile limb and start paying the, I went the old fashioned route with an equity loan that actually turns out to be cheaper. My creditors are notorious for not "arranging things" with debt consolidation companies, combined with no physical address, random numbers, and shady seeming approach to fixing one's finances, I have opted to not go this way. I'm not sure if they are legit, but I'd definitely do my homework before even initating contact with them.
John
Reno, Nevada
United States Minor Outlying Islands
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