I’m 21 years old and currently have $11k in credit card debt. Let’s just say I was too trusting with some people, which led to this situation. Today, I decided to take control and went to the California Debt Relief Organization. Shortly after, I received a call from Clear One Advantage. Assuming they were connected with the organization, I got on the phone with them. They promised me lower monthly payments and said I could be debt-free in 3 years. They asked for my social security number, bank account and routing numbers, and a copy of my ID. I wasn’t sure if this was standard, but I provided the information.
Everything seemed fine until I looked up the company and found a lot of negative reviews on Reddit. That was a huge red flag, so I decided not to sign the contract. I immediately called my bank to freeze my account and plan to go to a branch to request new account and routing numbers. My bank agreed, so I’m okay there. But I’m still nervous because they now have my social security number and a copy of my ID.
Don’t be too hard on yourself; I think that striving to pay off your debt at your age is prudent. Many corporations are linked to debt, but the more we investigate, the more we see that many of them are businesses that are taking advantage of us. Although 11k isn’t a lot of debt (it might be worse!), you should choose a plan that you can stick to and that has received positive ratings, which it seems like you are doing.
Check out NFCC.org.
extremely charitable that provides you with credit organizations that are legitimate and not fraudsters.
Instead of looking for debt relief, try debt management or counseling. A distinction exists.
My ex left me with a lot of debt. You can manage this on your own! Focus on paying off the cards with the highest interest rates first since that’s where you’re losing the most money. I’ve consolidated my cards before with 0% interest for a year, but there’s usually a fee for the transfer. Do the math and keep track of when the offer ends. For deals like “no payments for 2 years,” remember that once that period is up, you’ll owe all the interest for those two years. Set up alerts on your cards for anything over $1. Small charges can indicate fraudulent activity, which can snowball if unchecked. Twice now, this has saved us!
My husband once had a terrible credit score no bank account, no driver’s license, nothing after his ex ruined his credit. Now, he has an 811 score. It takes time, but it’s worth it. Make sure you pay more than just the minimum payment because that minimum is designed to keep you in debt. Also, try making two payments each month one on the 15th and another on the due date. They don’t need to be full payments, but it helps.
If you’re willing to cut some extras like eating out or buying coffee, you’ll be surprised how quickly you can pay off your debt. Doing so will improve your credit score, opening the door to better credit card offers in the future. You’ve got this! You don’t need a company’s help your debt isn’t as bad as it seems. You’re young, you can work, and you can hustle to save thousands!
If your credit cards are fully paid, I will pay off any remaining balance right away. If you’re strong at freelancing, I can help you get gigs so that your payments are easy.
Like you, I declined Clear One Advantage. Again, I gave them all of my details but changed my mind right before the final minute. Like you said, it seems too good to be true.