1. bdancer222
    March 27, 2014 @ 11:48 am

    I’m a little confused. Are you in a debt management plan and failed to make 4 months worth of payments? Or are you behind 4 months with Chase and Discover and trying to get a debt management plan set up?

    Is Aspire Financial an NFCC member? http://www.nfcc.org/ There are a lot of debt repair/settlement companies out there that will only take their fees up front and do very little for you. NFCC members are screened to be legit non-profit companies.

    You should also understand that your creditors do not have to agree to participate in your debt management program. They can simply sue you and use the judgment to garnish your wages, attach your bank account, and lien your property.

    Are you referring the collectors to the debt management comapny? And have you asked the debt management company why you are getting the calls from Chase and Discover?

  2. OC1999
    March 27, 2014 @ 12:15 pm

    Debt Settlement and Debt Management are NOT the same thing.

    In a Debt “Settlement” program you are going to have more problems. What you are doing is paying them a set amount each month. When you have enough on “deposit”, only then will they negotiate with your creditors.

    The problem is that during this time the creditors are still not getting paid. This not only harms your credit report even more. But since you are still in default the creditors may not want to wait to get paid and may file a suit against you. Also, when it gets to the “settlement” point there is no law that says the creditors must deal with them. If they do sue you the defense “I am paying a debt settlement company” is not going to win you any points with the judge.

    Now a Credit Counseling agency that puts you on a Debt Management program is much better. Here they work with the Credit Cards to get your payments lowered. Again the creditor does not have to work with the program, but most of the major ones will. They then make the payments every month, which brings you current. Then when you are off of the program you are in much better shape.

    As bdancer said go with a reputable Credit Counselor that is certified with NFCC.