NCRC is the debt consolidation company I chose six years ago. I remember when the first payment was deducted from my checking account and my credit cards did not receive payment, I was upset to say the least. It was one emotional phone call where I discovered that my first payment was going to be held as a "deposit" and used towards the last payment in the program. At the time I remember being extremely upset because no where in the paperwork I was faxed, or in the initial conversations with NCRC employees was this mentioned. After that I had very few problems with NCRC.
When I have about 3 months left in the program, I get a letter stating they are going out of business and that they are referring my account to Consolidated Credit. No where in this package of information and forms did it refer to my deposit. I called NCRC and they said that their website would contain infomation on the refunds. Their website was now one page that said nothing about the refunds.
In trying to switch my account to Consolidated Credit, I faxed my forms to NCRC three times before they actually received them and were able to forward my information to Consolidated Credit. Each time I faxed my forms, I called to see if the fax was received. I was told to wait 24 hours. Then I was told to wait 72 hours. Each time I asked about the deposit and they kept telling me about the website.
Their website no longer exists and their phone in no longer in service. This was a debt consolidation company. Their customers were people who were having financial problems. The thought of not getting my deposit back, which was hundreds of dollars, is unbelievable. The company I trusted to get me back on track is now ripping me off.
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