We had over $36,000.00 of medical bills, and some very old credit card debts. We did a 48 month program, but paid it off in just over 26 months with no pre payment penalty. Everyone there was nice and they took the time to walk me through every detail. I cannot believe what I did not know. The were not pushy at all with me. Most companies I spoke with tried to sign me up on the phone; right then. I spent the weekend thinking about it and I know that I made a good choice. Best of all the fixed my credit while I was enrolled and they don't show up on my credit report AT ALL!! It is the best thing since sliced bread. ***** five star support all the way!
I wanted to say “Thank you†so much for your helping me clear up and resolve my credit card and other outstanding debt. Your help saved me untold amounts of money in additional interest and late fees, easily adding up to over $16,000. Your staff was friendly and helpful and settled my credit card debt for less than I thought possible. Resolving and paying the settlements, that CAG negotiated on my behalf was easy and fast. My credit score has improved dramatically since the settlements were paid.
Thanks Edward, Michael and Dale. Would love to see you participate more. Your information is positive and helpful. I hope others can contribute as well.
This company is a rip-off.
They will ruin your credit, behave rudely, and rip you off. Do not trust them! See the many complaints about them on the WEB...including BBB.
I have looked around the internet, different websites and the posts praising CAG look as if they were just copied and pasted over and over again (same wording, same speech patterns, same vocabulary). I have a sneaking suspicion that most of the positive CAG feedback is from CAG employees... They may have been voted a good place to work, but not a great place to deal with. I have fantastic credit. My Sister does not. I warned her not to jump into a program with a credit consolidation/ debt management company, and to do her research first. She didn't listen and started working with CAG. Credit Alliance Group is great when everything is going smoothly but is VERY VERY hard to get a hold of when you actually need help with something. My sister is now filing Chapter 13 Bankruptcy... My advise, consult a lawyer before working with CAG.
Hi goodnatured
You are correct. I too think that most of the testimonial the credit repair companies provide in their sites and blogs are misleading only to attract customers towards them. I think that we can repair our own credit by ourself. Only be tracking the credit report, reporting inaccuracies in credit report to the CRAs and by making pay for deletion settlements for validated debts, we can repair our own credit ourselves and save the dollar that would otherwise go to the credit repair companies.
Best thing to do before getting involved with any of these companies is to check them out thoroughly through the bbb and have your state attorney office take a look at them too. Don't give anyone money for something that you can do yourself.
I have been with this company for over 2 years now and I have never had a problem. They are always so helpful on the phone and have settled all my accounts, but one as promised. I don't see how they are a misleading, they have done nothing but good things for me and my husband. But of course everyone is entitled to their own opinion and as with every business, there is always an unhappy customer. You cant please us all, but you all have done a great job for me so far. Thank You
Yes, I agree, we welcome all experiences both good and bad, that way you get a full picture of what is going on with a company. Never hurts, what works for some may not work for others.
You know GN thinking back to other posts...There is a lot of dilemma on these companies. Some actually do things to help people but in another post the same company takes money and does nothing. I notice alot of ads on TV advising against debt solution programs.
There are some credit repair agencies who take steps to repair your credit, but it is very difficult to identify them. So the best way is to repair your own credit by yourself. This will not only save your dollars which would have otherwise gone to the repair agencies but also help you to learn repair your credit. Nobody can remove correct listings from your report even if the repair agencies promises to do so. But the incorrect listings can be removed if you send dispute letters to the bureaus. Even the Federal Trade commission officially suggests to repair credit by yourself.
I thought they recommened it. There is actually things that credit repair co. can not do for you because they are considered a third party. You are absolutely correct when you say that there are so many repair com. that its hard to see which are the good guys. another reason to do it yourself. I think credit repair companies have become a lot like the debt collectors. There are so many people just do not know who to trust. I have heard a few of them work with the collector and against the client.
I am telling you this is true. I see a write up on it. I was talking to my atty about why I needed to get everything settled and didn't even ask about debt collection agencies and she was spewing out warnings that most of these are actually debt collectors. They don't even handle any kind of lawsuit handling sollectors and she said this so I believe it is true.
I work for a debt management company. If anyone has any questions on how any of it works just shoot them at me. I'm not here to name drop or do free advertising, so I wont give you any company names or advise you on who to go with. Just provide you with an unbias approach on the answers to questions ya'll might have. I will say if you going to choose a company, find one on the bbb that has the least amount of complaints as possible. Anyone with 100+ has to have something wrong with their services. But on the other hand I personally dont believe in the BBB because you can pay to be an accredited business and have your complaints removed and there "opinion" on each company is solely based off of people complaining only. If it were a correct discription it would take the complaints with compliments, then make an educated statement. However not many people will go out of there way to compliment someone,but they will go out of there way to complain. Just though I would drop by and give ya'll a chance to have a inside unbias look on the exact breakdown of how it all works
Hi inthebiz, welcome to the forum, glad to have you and thank you for the offer to help people on the forum.
I have a question about getting a break or a settlement offer, how long does one have to accept an offer before they can not offer it again? Is it 30 days, 60 days or is there no time limit on it, can a collection agency offer you a settlement at any time at all?
How long will a collection agency hold on to an account before selling it off to another company?
Sounds like your an honest person and we need those kinds of people around here. We did not ask to be dealt the hand we were dealt. Sure we may have helped it along but we want to learn and grow from our mistakes and would welcome any info you have. One thing I just learned that I did not know is that you can pay the BBB. Wow definately a new one for me.
Wow, welcome, we embrace someone who is working or has worked in the industry, you can really be a helpful assett here, I look forward to interacting with you and reading as you interact with others here.
In response to Credit Alliance Group. DO NOT use this company for services. They are scam artists, and are not listed as a company through the Better Business Bureau. In fact, over 8 complaints have been filed against them through the BBB. I would suggest that you do more research and find a more effective way to settle your debt. Credit Alliance Group should be banned as a business. Speaking from personal experience, it is not the way to go...
Huge Scam company. Over 8 complaints through the Better Business Bureau... I have an investigation out on them right now. I work for the BBB... DO NOT GO THIS ROUTE!!! Thanks...
I have a question about getting a break or a settlement offer, how long does one have to accept an offer before they can not offer it again?
They are going to tell you that you only have to the end of the month to accept the offer because that is how each one of the collector's commissions work. Thats why if and when you do decide to settle if you wait to the end of the month then the settlement will get better and better. Preferably settle on the last couple days of the month and act as if it is all you have at the moment. They bought the debt for probably 20-30 cents on the dollar and I wouldn't settle for anything over 50% preferably 40% if you are stubborn enough you'll do fine! Look up the statute of limitations for unsecured debt in your state. Most of the time it is a minimum of 3 years and a maximum of 5 in all 50 states. The statute of limitations start the month after you missed your first payment. That will give you a better idea of how long you have to settle with the creditor before there time runs out where they can legally collect on the debt. If you haven't been served with a summons from a sherriff or by certified mail then you have not been sued yet. So if they threaten you with legal action before you have been served a summons then go file a complaint with the ftc for bad practices under the FDCPA( Fair Debt Collection Practices Act).
Is it 30 days, 60 days or is there no time limit on it, can a collection agency offer you a settlement at any time at all? Yes they will offer you a settlement from the second it is in there offices. They are being paid to collect on the debt and i would give it a couple months of non payment at there office before I would even try to settle as well. Just tell them that you dont have the funds yet and that you are currently saving and that your almost there. They will lie and tell you all kinds of things to get you to pay towards the end of the month, but then another month will go by and here they go again! Remember to check those statute of limitations though. Because any and all creditors hold the right to sue you for the debt that you owe them, it just cost them less money to go through a collection company.
And the guy that works at the BBB...come on! The BBB is ripoff...RACKETT...You guys hide and take complaints off if the companies pay the "fee" or "monthly charge" to be an "accredited business" if any investigation should be going on it should be on your company! And 8 complaints. check out CreditSolutions, they are the largest debt settlement company in america almost and they have more complaints than I can count!
As for the BBB, look at the complaints vs. the size of the company vs. how many years they have been in business. I dont know about you but 8 complaints in what i think the report says this "Credit Alliance Group" has been in business 4 years. I would say that is not bad. But as one of the ladies said in the previous post above...everyone is entitled to there own opion. That is the joy of living in America.
I would love to go visit all these "scam companies" and make an assesment of the company and how they conduct business.....
How long will a collection agency hold on to an account before selling it off to another company?
How long will a collection agency hold on to an account before selling it off to another company?
Ooops I forgot to answer this one. And I'm not one to give out an answer that I'm not 100% for sure on, but if I were to guess it would be like 180 Days... Because that is how long the original creditor holds on to the debt before settling with a collection agency.
It is in fact 180 days. I had one on my credit report and added the date until teh fall off point. They can sell this debt for an eternity if they wanted. Mine has passed through so many hands over the past 5-6 years that I could leave you a complete list. It doesn't seem any company actually holds on to them for very long because I get letters a couple times a year and they are usually from different companies.
You are right fireyone, 20 years down the road you could still be getting some collector trying to collect on a dead debt. You just can not be sued after the statute of limitations
Hi Inthebiz
Normally, they report the debt to the credit bureaus after 180 days from the date of your first missed payment, since after 180 days the account is considered delinquent. Now most of the creditors sell it to the CAs after this period only and the CAs after purchasing the debt reports it to the credit bureaus and so the name of both the OC and CA starts appearing in your report. Now if you pay off the debt to the CA after PFD agreement with them, only the CA listing gets removed from your credit report and not the OC listing. This OC listing stays in your report for seven years.
I agree with Carol on this point. Again a debt also passes on from one CA to another. This happens when the CA to whom the OC has sold off the debt has either failed to collect the debt or could not validate the debt properly and so could not collect the debt. For example, if you ask a CA whose name appears in your report to validate the debt, and he cannot validate the debt within 30 days from the date of receipt of your letter, because of lack of documents, he sells it to another CA who again tries to collect the debt and this process continues so long the debt is collected by a CA. If the CA cannot validate the debt, he cannot even sue you and bring judgment against you and so he sells off the debt account.
The main problem with bad posts about credit management companies is the fact that most people are ignorant about what is trying to be accomplished. You already have bad credit but dont want to be complete dead beats in regards to not paying your creditors back. These companies help you by negotiating your debt down. Chapter 13 is a horrible thing to do. You will not be able to get financing down the road with a Ch. 13. When using credit management companies what happens is that you put money in escrow until you reach 40% of your lowest balance debt. The next step is that the company pays it off for you. Will your credit be harmed.....??? ABSOLUTELY but will you be debt free in 3 years????ABSOLUTELY and your credit will not be any worse off then it already was.. If the consumer was responsible in the first place with their debt then they wouldn't be in this position. Debt management is the way to go. Do your research. If you type any companies name into a search engine like ripoff.com then you will negative results as well. Don't be so narrow minded. It is a dirty job but it ultimately helps the client out in the long run.
Yes, in Chapter 13 bankruptcy, you need to pay off the outstanding debt from your monthly income in a period of three to five years, but you cannot go for Chapter 7 bankruptcy, if you have the income to repay off the debt. Moreover, the bankruptcy law that has come into effect in 2005 requires you to undergo credit counseling service within 180 days of filing bankruptcy where you will be guided about the type of bankruptcy you need to file.
Repaying off the debt do not improve your credit score. It only helps you to avoid judgment for garnishment of wage and bank accounts and will not lower your score any further, because judgments reduce score by about 100 points.
I am trying to deal with them right now and get a refund of my escrow account. I am unfortunately having to file a Chapter 13. I had signed up with CAG back in Nov. After speaking with our attorney in April I emailed CAG to cancel our contract. Silvia the supervisor said they never received the cancellation notice, but if I could show them it they would honor it. I sent her the it, but now she said her CEO would not and they were keeping my extra money which they took from my escrow account. Now tell me a company that is supposely out there telling people how they are here to help you will keep money from someone who definitely needs it all back now. If you just type in Credit Alliance Group in google you will get a number of blogs where others have also been ripped off by this company. I'm with Danielle and believe the positive responses are from someone in the company and not true customers.
I have been with CAG for about 18 months not one of my accounts have been paid on and I just got a lawsuit from one of my creditors that have been notified of my enrollment in CAG. Has anyone else had this problem, if so what did u do?
If the above mentioned company is listed in Dallas, TX, according to the BBB, the company is not a BBB accredited business.
The BBB has the company listed with an "F" rating.
According to the BBB, reason for the rating include the following:
1) BBB concerns with the industry in which this business operates.
2) Length of time business has been operating.
3) 31 complaints filed against the business.
Always be very cautious regarding companies that are not listed with the BBB. You can also go a step further & contact the Attorney General in the state of TX. to see if the above listed company has ever been sued.
If you are in need of free financial counseling, please do not hesitate to contact me.
The Credit Alliance Company did not get a BBB accreditation because it has many complaints against it regarding dissatisfaction with their services by their customers. They have even misinterpreted results about their debt negotiation program. The customers complain that they have an increase in debt after consulting the Credit Alliance Company.
The company offers to resolve their customers’ complaints by offering refunds or referring to Client Services Agreement for explanation.
We were trying to get a debt consolidation company to help us get out of debt and all they have done is dig our accounts deeper. They have not contacted anyone. They make promises whenever they feel like it. None of our accounts have been paid off and we have been doing this for over a year. We are into them for more money then I want to mention and now we are being sued by our creditors because they never contacted them. Don't use them. This company is scam from the beginning and they don't care about customer service either.
I happened to get a call from the alliance group and they verified my information. I had recently taken out a loan and the alliance group helped me pay off some bad checks that happened to be taken out of my closed bank account. Since then, all of the annoying phone calls have stopped from other debt companies. I really like their service and I had no problems.
Credit Alliance Group has an 'A' Rating with the BBB in New York and Illinois. Recently awarded the 2011 Consumers' Choice Award for business excellence. Nominated as a finalist in the 2011 National Stevie Awards for Best Overall Company. Members of the U.S. Chamber of Commerce, International Association of Professional Debt Arbitrators, United States Organization for Bankruptcy Alternatives, TRUSTe privacy certified, VeriSign secured, Voted Best Places to Work in the Dallas-Ft. Worth area 2008-2009, 2010 Consumers' Choice Award, Dunn & Bradstreet registered and have 6 locations nationwide. I find it very hard to believe that any company with an accreditation list that looks like the above would be anything less than a great company. Visit Credit Alliance Group's website and conform your own opinion. I have yet to see a debt consolidation companies website look any better. Yes, I work for Credit Alliance Group and if you have any questions, concerns, or complaints you can contact me directly so I may have the opportunity to address anything you may have questions about. My name is Bryan and you may reach me at 866-454-5044 ext: 130
You can check this one Spice
http://www.dallas.bbb.org/WWWRoot/Report.aspx?site=50&bbb=0875&firm=900…
If this is not the same go ahead and check the Better Business Bureau for the company that you are looking for.
Credit Alliance Group
Link Deleted- Richard
Hi Edward,
Is that link for the address mentioned there?
Credit Alliance Group is the best; thank you!
We had over $36,000.00 of medical bills, and some very old credit card debts. We did a 48 month program, but paid it off in just over 26 months with no pre payment penalty. Everyone there was nice and they took the time to walk me through every detail. I cannot believe what I did not know. The were not pushy at all with me. Most companies I spoke with tried to sign me up on the phone; right then. I spent the weekend thinking about it and I know that I made a good choice. Best of all the fixed my credit while I was enrolled and they don't show up on my credit report AT ALL!! It is the best thing since sliced bread. ***** five star support all the way!
CAG
They are a good group; we saved alot and they handled all the dinner time phone calls.
not sure if you have their web address; if not here it is.
CreditAllianceGroup.com
Credit Alliance Group
I wanted to say “Thank you†so much for your helping me clear up and resolve my credit card and other outstanding debt. Your help saved me untold amounts of money in additional interest and late fees, easily adding up to over $16,000. Your staff was friendly and helpful and settled my credit card debt for less than I thought possible. Resolving and paying the settlements, that CAG negotiated on my behalf was easy and fast. My credit score has improved dramatically since the settlements were paid.
Thanks again! Dale S, Dallas Texas
Thanks Edward, Michael and Dale. Would love to see you participate more. Your information is positive and helpful. I hope others can contribute as well.
RIP-OFF BEWARE
This company is a rip-off.
They will ruin your credit, behave rudely, and rip you off. Do not trust them! See the many complaints about them on the WEB...including BBB.
Thanks a lot. Your information will save many lives who seek help for credit, from these fraudulent places.
credit
EDDIE, can you please explain your situation with them?
Be Careful
I have looked around the internet, different websites and the posts praising CAG look as if they were just copied and pasted over and over again (same wording, same speech patterns, same vocabulary). I have a sneaking suspicion that most of the positive CAG feedback is from CAG employees... They may have been voted a good place to work, but not a great place to deal with. I have fantastic credit. My Sister does not. I warned her not to jump into a program with a credit consolidation/ debt management company, and to do her research first. She didn't listen and started working with CAG. Credit Alliance Group is great when everything is going smoothly but is VERY VERY hard to get a hold of when you actually need help with something. My sister is now filing Chapter 13 Bankruptcy... My advise, consult a lawyer before working with CAG.
It may very well be, some companies will pull these tactics on you in hopes that you fall for it.
Hi goodnatured
You are correct. I too think that most of the testimonial the credit repair companies provide in their sites and blogs are misleading only to attract customers towards them. I think that we can repair our own credit by ourself. Only be tracking the credit report, reporting inaccuracies in credit report to the CRAs and by making pay for deletion settlements for validated debts, we can repair our own credit ourselves and save the dollar that would otherwise go to the credit repair companies.
Best thing to do before getting involved with any of these companies is to check them out thoroughly through the bbb and have your state attorney office take a look at them too. Don't give anyone money for something that you can do yourself.
That is perfect advice good natured. Your last post says it all.
???
I have been with this company for over 2 years now and I have never had a problem. They are always so helpful on the phone and have settled all my accounts, but one as promised. I don't see how they are a misleading, they have done nothing but good things for me and my husband. But of course everyone is entitled to their own opinion and as with every business, there is always an unhappy customer. You cant please us all, but you all have done a great job for me so far. Thank You
I am glad that you have had a positive experience with this company. Thanks for sharing.
Jennifewr, No one knocks these companies. Some people really do get results. Some of us just prefer to do our own credit repair.
Yes, I agree, we welcome all experiences both good and bad, that way you get a full picture of what is going on with a company. Never hurts, what works for some may not work for others.
You know GN thinking back to other posts...There is a lot of dilemma on these companies. Some actually do things to help people but in another post the same company takes money and does nothing. I notice alot of ads on TV advising against debt solution programs.
There are some credit repair agencies who take steps to repair your credit, but it is very difficult to identify them. So the best way is to repair your own credit by yourself. This will not only save your dollars which would have otherwise gone to the repair agencies but also help you to learn repair your credit. Nobody can remove correct listings from your report even if the repair agencies promises to do so. But the incorrect listings can be removed if you send dispute letters to the bureaus. Even the Federal Trade commission officially suggests to repair credit by yourself.
I thought they recommened it. There is actually things that credit repair co. can not do for you because they are considered a third party. You are absolutely correct when you say that there are so many repair com. that its hard to see which are the good guys. another reason to do it yourself. I think credit repair companies have become a lot like the debt collectors. There are so many people just do not know who to trust. I have heard a few of them work with the collector and against the client.
Sometimes I think that some of these collectors have a seperate or second company, collector and credit repair.
I am telling you this is true. I see a write up on it. I was talking to my atty about why I needed to get everything settled and didn't even ask about debt collection agencies and she was spewing out warnings that most of these are actually debt collectors. They don't even handle any kind of lawsuit handling sollectors and she said this so I believe it is true.
hello
I work for a debt management company. If anyone has any questions on how any of it works just shoot them at me. I'm not here to name drop or do free advertising, so I wont give you any company names or advise you on who to go with. Just provide you with an unbias approach on the answers to questions ya'll might have. I will say if you going to choose a company, find one on the bbb that has the least amount of complaints as possible. Anyone with 100+ has to have something wrong with their services. But on the other hand I personally dont believe in the BBB because you can pay to be an accredited business and have your complaints removed and there "opinion" on each company is solely based off of people complaining only. If it were a correct discription it would take the complaints with compliments, then make an educated statement. However not many people will go out of there way to compliment someone,but they will go out of there way to complain. Just though I would drop by and give ya'll a chance to have a inside unbias look on the exact breakdown of how it all works
Hi inthebiz, welcome to the forum, glad to have you and thank you for the offer to help people on the forum.
I have a question about getting a break or a settlement offer, how long does one have to accept an offer before they can not offer it again? Is it 30 days, 60 days or is there no time limit on it, can a collection agency offer you a settlement at any time at all?
How long will a collection agency hold on to an account before selling it off to another company?
Sounds like your an honest person and we need those kinds of people around here. We did not ask to be dealt the hand we were dealt. Sure we may have helped it along but we want to learn and grow from our mistakes and would welcome any info you have. One thing I just learned that I did not know is that you can pay the BBB. Wow definately a new one for me.
Wow, welcome, we embrace someone who is working or has worked in the industry, you can really be a helpful assett here, I look forward to interacting with you and reading as you interact with others here.
RE: Credit Alliance Group
Hello Spice,
In response to Credit Alliance Group. DO NOT use this company for services. They are scam artists, and are not listed as a company through the Better Business Bureau. In fact, over 8 complaints have been filed against them through the BBB. I would suggest that you do more research and find a more effective way to settle your debt. Credit Alliance Group should be banned as a business. Speaking from personal experience, it is not the way to go...
Good luck!
RE: Credit Alliance Group
Huge Scam company. Over 8 complaints through the Better Business Bureau... I have an investigation out on them right now. I work for the BBB... DO NOT GO THIS ROUTE!!! Thanks...
Q & A
I have a question about getting a break or a settlement offer, how long does one have to accept an offer before they can not offer it again?
They are going to tell you that you only have to the end of the month to accept the offer because that is how each one of the collector's commissions work. Thats why if and when you do decide to settle if you wait to the end of the month then the settlement will get better and better. Preferably settle on the last couple days of the month and act as if it is all you have at the moment. They bought the debt for probably 20-30 cents on the dollar and I wouldn't settle for anything over 50% preferably 40% if you are stubborn enough you'll do fine! Look up the statute of limitations for unsecured debt in your state. Most of the time it is a minimum of 3 years and a maximum of 5 in all 50 states. The statute of limitations start the month after you missed your first payment. That will give you a better idea of how long you have to settle with the creditor before there time runs out where they can legally collect on the debt. If you haven't been served with a summons from a sherriff or by certified mail then you have not been sued yet. So if they threaten you with legal action before you have been served a summons then go file a complaint with the ftc for bad practices under the FDCPA( Fair Debt Collection Practices Act).
Is it 30 days, 60 days or is there no time limit on it, can a collection agency offer you a settlement at any time at all? Yes they will offer you a settlement from the second it is in there offices. They are being paid to collect on the debt and i would give it a couple months of non payment at there office before I would even try to settle as well. Just tell them that you dont have the funds yet and that you are currently saving and that your almost there. They will lie and tell you all kinds of things to get you to pay towards the end of the month, but then another month will go by and here they go again! Remember to check those statute of limitations though. Because any and all creditors hold the right to sue you for the debt that you owe them, it just cost them less money to go through a collection company.
And the guy that works at the BBB...come on! The BBB is ripoff...RACKETT...You guys hide and take complaints off if the companies pay the "fee" or "monthly charge" to be an "accredited business" if any investigation should be going on it should be on your company! And 8 complaints. check out CreditSolutions, they are the largest debt settlement company in america almost and they have more complaints than I can count!
As for the BBB, look at the complaints vs. the size of the company vs. how many years they have been in business. I dont know about you but 8 complaints in what i think the report says this "Credit Alliance Group" has been in business 4 years. I would say that is not bad. But as one of the ladies said in the previous post above...everyone is entitled to there own opion. That is the joy of living in America.
I would love to go visit all these "scam companies" and make an assesment of the company and how they conduct business.....
How long will a collection agency hold on to an account before selling it off to another company?
Q & A
How long will a collection agency hold on to an account before selling it off to another company?
Ooops I forgot to answer this one. And I'm not one to give out an answer that I'm not 100% for sure on, but if I were to guess it would be like 180 Days... Because that is how long the original creditor holds on to the debt before settling with a collection agency.
It is in fact 180 days. I had one on my credit report and added the date until teh fall off point. They can sell this debt for an eternity if they wanted. Mine has passed through so many hands over the past 5-6 years that I could leave you a complete list. It doesn't seem any company actually holds on to them for very long because I get letters a couple times a year and they are usually from different companies.
You are right fireyone, 20 years down the road you could still be getting some collector trying to collect on a dead debt. You just can not be sued after the statute of limitations
Hi Inthebiz
Normally, they report the debt to the credit bureaus after 180 days from the date of your first missed payment, since after 180 days the account is considered delinquent. Now most of the creditors sell it to the CAs after this period only and the CAs after purchasing the debt reports it to the credit bureaus and so the name of both the OC and CA starts appearing in your report. Now if you pay off the debt to the CA after PFD agreement with them, only the CA listing gets removed from your credit report and not the OC listing. This OC listing stays in your report for seven years.
I agree with Carol on this point. Again a debt also passes on from one CA to another. This happens when the CA to whom the OC has sold off the debt has either failed to collect the debt or could not validate the debt properly and so could not collect the debt. For example, if you ask a CA whose name appears in your report to validate the debt, and he cannot validate the debt within 30 days from the date of receipt of your letter, because of lack of documents, he sells it to another CA who again tries to collect the debt and this process continues so long the debt is collected by a CA. If the CA cannot validate the debt, he cannot even sue you and bring judgment against you and so he sells off the debt account.
Credit alliance group
The main problem with bad posts about credit management companies is the fact that most people are ignorant about what is trying to be accomplished. You already have bad credit but dont want to be complete dead beats in regards to not paying your creditors back. These companies help you by negotiating your debt down. Chapter 13 is a horrible thing to do. You will not be able to get financing down the road with a Ch. 13. When using credit management companies what happens is that you put money in escrow until you reach 40% of your lowest balance debt. The next step is that the company pays it off for you. Will your credit be harmed.....??? ABSOLUTELY but will you be debt free in 3 years????ABSOLUTELY and your credit will not be any worse off then it already was.. If the consumer was responsible in the first place with their debt then they wouldn't be in this position. Debt management is the way to go. Do your research. If you type any companies name into a search engine like ripoff.com then you will negative results as well. Don't be so narrow minded. It is a dirty job but it ultimately helps the client out in the long run.
Yes, in Chapter 13 bankruptcy, you need to pay off the outstanding debt from your monthly income in a period of three to five years, but you cannot go for Chapter 7 bankruptcy, if you have the income to repay off the debt. Moreover, the bankruptcy law that has come into effect in 2005 requires you to undergo credit counseling service within 180 days of filing bankruptcy where you will be guided about the type of bankruptcy you need to file.
Repaying off the debt do not improve your credit score. It only helps you to avoid judgment for garnishment of wage and bank accounts and will not lower your score any further, because judgments reduce score by about 100 points.
CAG is definitely a rip off
I am trying to deal with them right now and get a refund of my escrow account. I am unfortunately having to file a Chapter 13. I had signed up with CAG back in Nov. After speaking with our attorney in April I emailed CAG to cancel our contract. Silvia the supervisor said they never received the cancellation notice, but if I could show them it they would honor it. I sent her the it, but now she said her CEO would not and they were keeping my extra money which they took from my escrow account. Now tell me a company that is supposely out there telling people how they are here to help you will keep money from someone who definitely needs it all back now. If you just type in Credit Alliance Group in google you will get a number of blogs where others have also been ripped off by this company. I'm with Danielle and believe the positive responses are from someone in the company and not true customers.
Should NOT be cut?
Security departments like the state national guard or highway patrol.
Summons
I have been with CAG for about 18 months not one of my accounts have been paid on and I just got a lawsuit from one of my creditors that have been notified of my enrollment in CAG. Has anyone else had this problem, if so what did u do?
ripoff
iwas singup for cag program for 42 month and patd them 4631 already now they email said i singup for 60 month lie and big lie
complain
Hi Nuyen,
File a complaint with the Better Business Bureau, and Federal Trade Commission.
Thanks,
Aaron
If the above mentioned company is listed in Dallas, TX, according to the BBB, the company is not a BBB accredited business.
The BBB has the company listed with an "F" rating.
According to the BBB, reason for the rating include the following:
1) BBB concerns with the industry in which this business operates.
2) Length of time business has been operating.
3) 31 complaints filed against the business.
Always be very cautious regarding companies that are not listed with the BBB. You can also go a step further & contact the Attorney General in the state of TX. to see if the above listed company has ever been sued.
If you are in need of free financial counseling, please do not hesitate to contact me.
Respectfully Yours,
Heather Gimmy
The BBB report.
Hi nuyen,
The Credit Alliance Company did not get a BBB accreditation because it has many complaints against it regarding dissatisfaction with their services by their customers. They have even misinterpreted results about their debt negotiation program. The customers complain that they have an increase in debt after consulting the Credit Alliance Company.
The company offers to resolve their customers’ complaints by offering refunds or referring to Client Services Agreement for explanation.
Credit Alliance Group
We were trying to get a debt consolidation company to help us get out of debt and all they have done is dig our accounts deeper. They have not contacted anyone. They make promises whenever they feel like it. None of our accounts have been paid off and we have been doing this for over a year. We are into them for more money then I want to mention and now we are being sued by our creditors because they never contacted them. Don't use them. This company is scam from the beginning and they don't care about customer service either.
I happened to get a call from the alliance group and they verified my information. I had recently taken out a loan and the alliance group helped me pay off some bad checks that happened to be taken out of my closed bank account. Since then, all of the annoying phone calls have stopped from other debt companies. I really like their service and I had no problems.
never get a straight answer
I need to speak with someone who can show me who they contacted and how much they are willing to settle for.
Hi krede2256,
Did this group charge you anything upfront?
Is it just that the calls have stopped? Or is it that your account is settled already?
contact us
Credit Alliance Group has an 'A' Rating with the BBB in New York and Illinois. Recently awarded the 2011 Consumers' Choice Award for business excellence. Nominated as a finalist in the 2011 National Stevie Awards for Best Overall Company. Members of the U.S. Chamber of Commerce, International Association of Professional Debt Arbitrators, United States Organization for Bankruptcy Alternatives, TRUSTe privacy certified, VeriSign secured, Voted Best Places to Work in the Dallas-Ft. Worth area 2008-2009, 2010 Consumers' Choice Award, Dunn & Bradstreet registered and have 6 locations nationwide. I find it very hard to believe that any company with an accreditation list that looks like the above would be anything less than a great company. Visit Credit Alliance Group's website and conform your own opinion. I have yet to see a debt consolidation companies website look any better. Yes, I work for Credit Alliance Group and if you have any questions, concerns, or complaints you can contact me directly so I may have the opportunity to address anything you may have questions about. My name is Bryan and you may reach me at 866-454-5044 ext: 130