For the past few years I have found myself in CC debt crisis and I do not qualify for a consolidation loan and wondering about going through a CC debt reduction program with Rescue One Financial. Most of my CC companies have increased my APR to rediculiously high rates even though I have never missed or late on payment and pay above the minimum monthly payment. I have tried to negotiaite a lower rates with no luck. I was wondering if anyone has an opnion on Rescue One Financial or just on CC reduction plans. I was told by the agent that this plan they start negotiations with creditor after first payment. The negotiations are on 50% debt reduction and no interest for 3 or 4 year plan. The monthly payments I make goes to a SDIC Trust Fund where payments are distributed to CC creditors. I was tolds it will not affect my credit score, but improve it and that it is backed the Federal Trades Commision (Credit Card Debt Negotiations/Oct.27, 2010). Also, that their fees are included onthe monthly payment and they dont get paid until all creditors are payed in full. Before I go through with this I want to know if they are legite or even a good or bad idea?
Thanks In advance