Hello.. I am in Wisconsin. After being rejected for about a half dozen Home Refinance Loans to pay off my credit card debt. I decided to contact a Credit Counciling program to fix my situation.
A little bit of a background why I called the Credit Counciling Program. I am paying out $1,100 a month in revolving debt. I am current on the payments, but my wife and I are working overtime trying just to make the minimum payments. We can't get anywhere our debt ratio never changes.
I have enough home equity and make enough income to clear our revolving debt with a home equity loan. All the banks I talked to won't give me a 100% home equity loan. Nor will they work with me to give me a decent interest rate. I have been able to get equity loans up to 70% to 80% of the value, with rates at 9%, 10%, 11% and even 13%.
My credit score is too low because of the high volume of revolving debt. So I am pretty much stuck in a trap. I can't really wipe out all of my debt with my home equity, but I can probably wipe out 60% of it with a high interest refinance.
After being rejected a half dozen times, I decided to contact a Credit Counciling program.
When I contacted them, I was presented with an offer that seemed too good to refused. I decided to sign up.
After I signed up, I did a little research on the company and found a terrible rating with the BBB and awful reviews on consumer websites. I e-mailed, faxed, and left phone messages with this company expressing I am no longer interested in the program. What must I do to make sure I am fully backed out? I gave this credit counciling program my checking account number. I suppose my first line of defense is to put a stop so any ACH withdrawls are rejected with my banks. I would rather not have my credit report flagged with credit counciling or negotiated pay offs either..
Anyway. I did find a place that will finance my home at 90%. I think I will take that and pay off the remaining 10 grand of debt on my own. I think my wife and I will need to work on a strict budget so this incident doesn't happen again.
To refrain my question.. What must I do to make sure I am fully backed out of this credit counciling deal? a registered letter? A recorded phone call? change bank accounts? Contact my creditors? all of the above?
I
A little bit of a background why I called the Credit Counciling Program. I am paying out $1,100 a month in revolving debt. I am current on the payments, but my wife and I are working overtime trying just to make the minimum payments. We can't get anywhere our debt ratio never changes.
I have enough home equity and make enough income to clear our revolving debt with a home equity loan. All the banks I talked to won't give me a 100% home equity loan. Nor will they work with me to give me a decent interest rate. I have been able to get equity loans up to 70% to 80% of the value, with rates at 9%, 10%, 11% and even 13%.
My credit score is too low because of the high volume of revolving debt. So I am pretty much stuck in a trap. I can't really wipe out all of my debt with my home equity, but I can probably wipe out 60% of it with a high interest refinance.
After being rejected a half dozen times, I decided to contact a Credit Counciling program.
When I contacted them, I was presented with an offer that seemed too good to refused. I decided to sign up.
After I signed up, I did a little research on the company and found a terrible rating with the BBB and awful reviews on consumer websites. I e-mailed, faxed, and left phone messages with this company expressing I am no longer interested in the program. What must I do to make sure I am fully backed out? I gave this credit counciling program my checking account number. I suppose my first line of defense is to put a stop so any ACH withdrawls are rejected with my banks. I would rather not have my credit report flagged with credit counciling or negotiated pay offs either..
Anyway. I did find a place that will finance my home at 90%. I think I will take that and pay off the remaining 10 grand of debt on my own. I think my wife and I will need to work on a strict budget so this incident doesn't happen again.
To refrain my question.. What must I do to make sure I am fully backed out of this credit counciling deal? a registered letter? A recorded phone call? change bank accounts? Contact my creditors? all of the above?
I