“Enrolled Customer Trust”? Chase Bank?

Has anyone ever used this company to settle debts? I signed up with them about 3 years ago, and all the accounts have been paid off except one. The remaining account was with Chase Bank who sold my debt to a company called “The Bureaus”, and they call me frequently insisting that they will absolutely not work with a settlement company such as “Enrolled Customer Trust”. (Previously called “Preferred Financial” when I signed up.)

Now I get calls from both someone at “The Bureaus” and also someone named “John Gregory” from the law offices of “Zwicker and Associates” , who has left about 50 very stern messages on my answering machine. I spoke with him once and he also insisted that the Chase account will never settle through a debt consolidation company.

The original “deal” when I signed up just over 3 years ago was regarding about $14,000 in credit card debt. The agreement was to have been a down payment (forget the amt-have to look it up) and $290. per month for 3 years to get this all settled in full. While I had made my monthly payments & paid extra into this account after a small inheritance, I have not been able to pay anything since May, 2005. Since May, they have been taking the 39.95 maintenance fee out of the $2200 or so that I had already paid in. There is just over $1931 left.

On this past Friday, after the latest rash of somewhat harassing phone calls, I called ECT and asked if I could have the $1900 I had already left sent back to me as my husband felt we could perhaps make our own settlement arrangements. The CSR at ECT agreed so quickly that I am left wondering if I have made a grave error in doing so. I am considering to call them this morning to see if I can stop the return of my $$ and let them finish the settlement. I fear they may have already cut the check, since they agreed to do so so quickly. Could this be a HUGE error on my part?

I panicked…was I wrong? Originally I owed Chase about $4800. Now they are both saying I owe over $8k due to the interest and penalties. They (The Bureaus) tell me that if I can send in the $2000 now and make payments of $299 to pay off $5850. I don’t know for certain what amount the attornies office will settle at.

A “Tara”, from The Bureaus, called last week and went into detail about this account with my husband (this is solely in my name and he was uninvolved in any negotiations until this woman shared the details-he was aware but not involved). Then she called me on Thursday am. Then on Friday am, a woman named “Gina” called me from the attornies office. When I asked why they were calling since I was also getting calls from The Bureaus, Gina stated that the account had been turned over to them and that Tara should not be calling me.

I wonder if this could mean I am in a position to see which of the two companies offers the best settlement and go with the ‘winner’ or try to get “Enrolled Customer Trust” to complete the original deal?

What to do???????????

Why not a settlement company

Why not a settlement company,and who did you use that you wouldn’t recommend, and who is the debt management company you use that is such a good help?

Can you share that info?

Most of us here are learning as we go, and have made a lot of little and not so little mistakes with our finances. I find that there are very few people who will even talk about budgets and money, let alone try to help you. That is why this group it great.

Anonymity helps…you have the occasional jerk Now I can think of two. If nothing else you know you are not in the boat alone, others are on the same boat. I wish I could offer more help.

I have found that since I have started to write down everything we spend I don’t spend as much, and if I go into the store I write down a list before I go and get only what is on the list for the week, has helped, so much I find extra money a lot, and I couldn’t of told you that 6 months ago. I reuse to let the debt win….take care.

Today I cut my cell phone bill in half

Today I cut my cell phone bill in half and cancelled my newspaper subscription. Saved some $$ by doing that.

My food budget is already low, I am a coupon fanatic.

There are a couple of areas that I still could possibly reduce my expenses on so I will call about those tomorrow.

It’s not a matter of IF I will get my money but when. The lawyer that I am using for this is a specialist and doesn’t handle things like credit issues. I do have another attorney but like everything else, it costs $$ to talk to them. 🙁

Thanks also for the post about the tone of the group. I was surprised but figured that it wasn’t like that every day and I just let it go.

Thanks again for the advice. I look forward to posting positive things about how my finances are going!