Helpwithmycredit.org-good or bad idea?

I saw a quick commercial today promoting help with credit card debt. This was not the average commercial about credit counseling, debt consolidation or debt settlement-this was being promoted by the big boys themselves: Bank of America, Capital One, Citi, Discover Card, and the payment giants Mastercard and Visa.

Once I seen their logos flash by, I knew this was something I had to look into. So I run to my computer and search their website. They had a little section where you can answer a few simple questions to determine what would be best for your situation. I thought-why not? So I answered a few simple questions and was told that I should contact an accredited credit counseling agency. They gave a list of names and numbers for these agencies.

I then went back on and answered a few of the questions a little differently and was also pointed in the credit counseling agency direction. My last and final attempt, I filled out the questionnaire with creditors that I owed money to like Citi and Chase and they referred me to a few 800 #’s for them. They said to contact them first and then pointed me in the direction of an accredited credit counselor.

*** Remember-I have already filed bankruptcy and have zero credit card debt-I just wanted to see how this works so I could pass on the information.***

I am no rocket scientist but after spending a little time on their website, I got this feeling of deception. It looked to me like all these creditors wanted to do was get me to sign up with a credit counseling agency. That doesn’t sound bad, right? Well, it all depends on how you look at it. For one, this is a huge advantage for creditors. Having you in a program like this means they can change the terms and conditions on your account and keep it outside the rules and regulations. They also can make a ton of money for the time you are in these types of programs. Also, don’t let the not-for-profit claim these credit counseling companies make fool ya. They make money or else they wouldn’t be doing what they do. Making money is fine. We all need to make money but I believe in making it the honest way. Not to say that all credit counseling agencies are dishonest but there are a lot that are.

The only people I see getting ahead in this situation would be the creditors and the credit counseling agencies that get kickbacks from these creditors. As far as the people that truly need the help-I don’t think they will get it there.

I have heard credit counseling success stories and it can work for some but I found this site a little one-sided. All they talked about is credit counseling. What about the other options that are out there for people who are in debt? Why not talk about other ways of getting out of debt or give mention about lowering rates or the possibility that you may just need to file bankruptcy?

I just can’t stand to see this kind of stuff. There will be a lot of people who will fall for this and sign up for something that gives them false hope. I don’t know, maybe I am not seeing the whole picture there but I am gonna give this site and this program a thumbs down.

If anyone out there is using this program or has any experience with it-I would love to hear how you feel about it. If you want to check out helpwithmycredit.org-please do so and let me know what you think.