I got a telephone marketing call for credit card interest rate reduction from National Credit Card Monitor LLC, Gino Niccoli CEO. The promise was to lower interest rates on all your credit cards within 90 days with annual savings of $2,500.00 for $599.00. The scam is that the $599.00 is immediately charged to your credit card, raising the debt and hoping you would not object when the bill came with a higher debt but lower payments and interest rates.
The savings were designed to reach $2,500 in one year but your payments were lower for a longer time at lower interest. Want a refund? The variety of post office addresses given for the company and their "debt negotiator affilliates" (Proactaive Planning Solutions, Complete Financial Strategies) guarantee you will not get a "guaranteed" return of your money when you figured this out. Kiss your $599.00 goodby and say hello to higher debt if you fall for this one. Their next move may be to sell your credit card information.
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