Nonprofit Credit Counseling

I think signing with CareOneCredit.com I passed all my debts into one payment. What are the advantages and disadvantages of doing so? I currently can not make all my payments by credit card, do you think is a smart choice?

Be careful! Not all those who have not held this profit they say they are. Many simply stop payments and accounts waiting to go to collections to get them to accept a lower payment, the creditor need not accept. Some of these crooks are making promises they can not keep. Some signs to watch FORL

companies that want to make you pay for credit repair services before providing services.

companies that do not tell you your rights and what you can do for you for free

companies that recommend that you not contact a credit reporting directly.

companies suggest that you try to invent a "new credit identity - and then, a new report - by asking a number identifying the employer to use instead of your Social Security number.

companies that advise you to dispute all information in your credit report or take any action that seems illegal, like creating a new credit identity. If you follow illegal advice and commit fraud, you may be liable to prosecution.

Under the law, credit repair organizations must give you a copy of Rights "Consumer Credit File Under State and Federal Law" before signing a contract. They should also give you a written contract that outlines your rights and obligations. Read these documents before signing anything. The law contains specific protections for you. For example, a credit repair company can not:

making false statements about their services
charge you until they have completed the promised services
perform all services until they have your signature on a written contract and have completed a period of three days of waiting. Meanwhile, you can terminate the contract without paying
Your contract should specify:
payment terms for services, including their total cost
a detailed description of the services to be provided
how long it takes to achieve results
any guarantees they offer
company name and business address

Depending on how much debt you owe, you may find that you can do yourself. If you have a lot of debt then perhaps the credit counseling services that are recognized as legitimate by the FTC is what you should consider. Here is the link to find one in your area
http://www.usdoj.gov/ust/eo/bapcpa/ccde/ ...

I hope this answers your question