Choosing the Right Debt Relief Company for Credit Card and Mortgage Debt
I've had an informative conversation already with one of your agents (whose name escapes me at the moment). He was really helpful regarding the real possibility of assisting my husband and me with managing / solving our cc debt. That's great but no matter how manageable we make our cc debt, we want so badly to keep our home and have more manageable monthly mortgage payments. If we get on board with your agency he told us that he will put Paul Wizary (sp) on our case because banking and mortgages are his areas of expertise.
My husband and I got screwed (excuse my language) by Wells Fargo while trying to qualify for the 'Making Home Affordable' Program several years ago, and I am scared to death about getting screwed again! My husband won't even support me in this endeavor with your company so I am alone in this attempt; and very frightened about it.
For the purpose of trying to get relief from my large (and now non affordable) mortgage payments, are you the right company for me?
—Lori
I do not have the benefit of having provided the initial consultation you had with my company. But whether or not CRN can provide the value you need, and the assistance in helping you resolve the issues and concerns you have with your mortgage, credit card debts, and specific concerns with Wells Fargo, I am highly confident in our skill sets.
Getting affordable and honest help with settling mortgage debt.
One of the things that I rarely point out when answering questions, or when giving comment feedback on this site, is that CRN has always had an unconditional membership guarantee. If we cannot help you, or you are not satisfied with the work we do in any way, you do not pay. Yes, you do sign up as a member in order for us to get started, but you risk nothing because we refund any membership costs upon request.
I stay away from pumping the fact that CRN does provide paid consulting and direct services on the site for many reasons. Not the least of which is that when I go to a site that says they are there to help, especially in regard to financial struggles, I do not want to be met with a whole bunch of sales and hype to get me to buy something. I doubt others want to see that either. If we can help people through this site for free – we do. If people want one on one support from a professional while they resolve debts, we do that. If someone wants a professional to work directly with their creditors, we do that too.
The consult you had with one of the CRN specialists referenced Paul. Paul has worked in the finance industry for more than 30 years. Much of that time in senior management positions at banks. He does indeed have the experience you would want to be able to tap into as you move forward with realizing your financial goals.
Finding debt help is not hard.
There are many companies and professionals you can find offering to help you resolve mortgage and other debts. But trusting a debt relief company or professional with your financial success is not easy.
I can completely appreciate your fears and stress in your current situation. You are not alone. There are more shysters and sales and marketing shenanigans in the debt relief industry, whether dealing with credit card debts or mortgage loans, than you would want to pause to think about. I actually applaud your caution and concern. If more people took the time to research their situation, or look into the company they are thinking about working with, far less would lose out on resolving their issues.
It would appear that your husband is more jaded than you are, but you are at least willing to reach out and find someone, or some place, that can help you resolve debt, and also earn your trust. I have taken great care to put CRN in a position of public and consumer trust.
If you do enroll as a CRN member you should know that you have equal access to everyone here, including me. CRN has no sales people, nor even administrative staff. All we have are people like Paul who work hands on with our members to resolve financial pressures and help you to reach your goals. You are assigned a person to work with one on one, and that person will be the most familiar with your situation within 48 hours of you enrolling. But I am available to CRN members at anytime.
I hope that I have answered your questions and addressed your concerns. If there is anything else you wish to learn in more detail prior to enrolling you are welcome to post in the comment section below.
Anyone with an interest in settling mortgage debts (and credit cards), or questions about CRN membership and why we operate the way we do, is welcome post in the comments for feedback. You can also reach me direct for a consult at 800-939-8357, choose option 2.
About Michael BoveeMichael started CRN in 2004 with a mission to provide people in need with detailed debt and credit help and education. Michael has participated as an expert panelist in federal consumer protection rule making, collaborated on state law changes governing debt consolidation, has worked as an expert witness in court matters related to the debt relief industry. He is available to speak with you about your financial struggle and helps people resolve their debt problems daily.
My mortgage was sold to Ocwen about 1 1/2 years ago. My husband looked into a modification to which we never heard back and the loan was sent to Nationwide Credit Inc. instead. They have offered a settlement for less than is owed and said the home will not go into foreclosure if we make an offer. Are you familiar with this? I have researched settlements and know what is required in a letter from them but want to make sure we won’t lose the home if we settle. I can’t find anything online regarding this related to a first mortgage. Thank you!
You can settle a first mortgage. It can be a frustratingly tough process, or simple and direct. Yours sounds to have fallen in your lap.
Can you share the basic details of the letter Nationwide Credit sent in order to settle the mortgage with Ocwen? I will be better able to offer feedback once you do.
Nationwide simply sent me a statement of what is owed. I called them to sort through my options and they informed me that I can offer Ocwen a settlement amount for less than what is owed. They would not offer a suggested amount or common percentage. They stated I would need to write a letter outlining how much my offer is, when I will pay it, where the money is coming from, why I need the settlement, copies of most recent two bank statements and pay stubs, and last two years taxes. Ocwen will review the offer and send me a letter in return either accepting my offer with all of the formal and legal info for payoff or a counter offer.
Do you want help and coaching through the process? If so, call me for a brief consult at 800-939-8357, and select option 2.
If you are going at this yourself be sure that anything you share is consistent with appearing like someone who can do little more than what you are offering (this often means you are getting outside financial help to resolve a large bill from a a family member or friend).
You should try to avoid the appearance of someone who has too much discretionary income. Your bank statements reveal much in this regard.
It can help to have a coach working with you through the process.