Hi there! I am Michael, and I founded Consumer Recovery Network along with 2 friends and dedicated debt coaches, Dean and Dayna, back in 2004. I want to share more about the unique approach to coaching and helping people through debt and credit problems we set out with back then, and that continues today.
Credible debt coaching, where you get expert guidance in order to navigate a tough financial patch, was not commonly available to people when we started CRN and launched this site. There was only one other operation doing the stuff we envisioned at the time (we did not know the other guy then, but he later became, and remains, a good friend and associate).
More than a decade later there is still a terrible lack of experts available to coach people through unfamiliar territory when negotiating with banks and debt collectors (of all variety and size). And there is no other company that offers DIY debt relief education and coaching while also providing expert debt negotiation services to those who want or need it.
Our Intention.
The intentions of CRN, and this website, can be best spelled out like this… we figure that if you knew what we know about resolving debt and credit challenges, you could solve your problems yourself and save a bunch of money in fees (some debt relief companies charge a lot).
This simple concept is the foundation of what we do daily with site visitors; how we handle free telephone consults; and the one on one debt coaching we do with customers.
I have personally helped thousands of people to overcome mountains of debt, and to achieve financial goals. I look forward to exchanging comments with you here on the site, and to speaking with you should you request a consult.
Cheers to your success – Michael
Yes, I am going to be writing much more later this month about our whole situation however, one I haven’t seen on here is what I am wondering about. I have a loan with affirm that was charged off a month ago. They have gone with true accord which appears to be a gentler collection firm. They offered 30% off online. Have you had any luck with getting them to 30 to 50% settlements? Hoping I can negotiate down
I do not typically see True Accord approve deals that low. Sometimes you have to wait to see who gets your account next in order to see if you can get a better settlement deal.
Hi Michael – months ago, I had a telephone conversation with you regarding my mountain of debt, and I wanted to thank you for that. It was very helpful. Since that time, my husband and I have been able to pay down the debt a bit more than anticipated, and have managed to keep his debt on 0 balance cards, etc. I was able to get on a debt management program which, unless the COVID 19 thing continues forever, which of course it won’t, I anticipate making the payments and actually getting the debt handled sooner than five years. I wanted to mention that I am using Cambridge Credit Counseling (I think I saw that on your website, or the Resolve website at some point) and I am very pleased with them so far. I am newly on the DPM, and the reduction in interest rates has been amazing to me. So just a shout-out for them, and a thank you to you and your associates for being there for people like me!
Thank you for posting an update Mary! Glad to hear things have smoothed out for you.
Wow, your web site is really great and helpful! Thanks so much for providing so much useful information. Here is my situation. My brother has dementia and made a mess of things, and I am dealing with his creditors. He has almost no assets and is in a care facility. We are starting the process of applying for Medicaid. He has a $9K debt to Discover, which was charged off two months ago. We haven’t heard anything from them since then – no calls or demand letters. We’ve settled his debts to Chase and Citi at 32 cents and 36 cents on the dollar. His only income is Social Security and a $200 monthly pension. He should get a stimulus check for $1,200. By the time we sell his car and empty his bank account, we can come up with maybe $3K. The posts on your site from some time ago make it sound like Discover holds onto the debt instead of selling it, and they play hardball. They may sue quickly without even trying the usual phone calls and letters. Is that still their policy? How do you suggest we deal with them? I don’t want my brother’s final years bothered with litigation or hassles from bill collectors.
Yes, Discover is still mostly the same with their collection practices.
If your brother has no assets and only income is protected, I am not sure I would be going through with settling Discover. They cannot force the payment even if they did get a judgment.
I am with you on wanting to make things easier for him though. You just want to know that is worth the roughly 50%-ish needed to deal with Discover.
Let me know if you want help with this one.
Are you a Not For Profit or For Profit Organization?
CRN is profit organization, but mainly with a free to the public publishing goal. There is a network of helpful service providers available to people. Some are nonprofit, others for profit, some attorneys, and even a public benefit corporation I helped found.
Hello,
I have a debt with MCM about $6k. They sent paperwork and court documents to an old address from 5 years ago. They then of course had the right address when it was time to try and garnish wages. They sent me a Notice of Court Proceedings to Garnish Wages Notice. After researching and talking to a few friends I went to the court and filed a motion to vacate the judgement due to being served improperly. I have a hearing in about 3 weeks. I called today to try and settle with MCM they said I had to pay in full and wasnt eligible for any discount at this point. I told them I would just go to court to vacate the judgement. Is there anything else I should be doing or aware of at this point?
Until the outcome of that hearing, not really, but I would talk to an experienced debt collection consumer law attorney in your state about this.