Anyone use CareOne Services?

[DisMN]

Has anyone here had any experience with CareOne for debt management? I'd love to hear some reviews. Is it too good to be true?

 

[paladin]

I don't know anything about this company, however, when something seems too good to be true, it probably is!

You have to be very, very careful with this type of company - they make lots of promises, but don't always accomplish much (and they often charge a lot too!).

Here is a link with some complaints - take a look and continue to do your due diligence before committing to this or any other company.

http://www.consumeraffairs.com/debt_counsel/careone_credit.html

 

[DisMN]

Interesting, thanks. Seems like most of those complaints were from people hoping for settlements from credit card companies.
We're doing debt management and CreditOne has an A+ rating from them. I think I'm on the road to confused. LOL

 

[bettymae1121]

Can't say anything about this company in particular, but the only credit counseling service that I've ever heard of that gets consistantly good reviews is CCCS through the United Way. Check on United Way's website, you should be able to find a CCCS location near you.

 

[DisMN]

Can't say anything about this company in particular, but the only credit counseling service that I've ever heard of that gets consistantly good reviews is CCCS through the United Way. Check on United Way's website, you should be able to find a CCCS location near you.

Thankyou bettymae, been there done that. I'm looking for anyone who has used specifically CareOne Services/CareOne Debt Management Services.

 

[mackeysmom]

Hi -

I have one good friend who is 4 years into her 5 year CareOne plan. She has had nothing but positive things to say about it. It has forced her to rely on cash only and she has completely changed the way she thinks about and spends her money.

She has done so well on the plan, that her sister is now 1 year into HER 5 year plan.

I do know that both of them pay their American Express bills directly to Amex as they (Amex) don't participate with CareOne.

I hope that helps.

Good luck,
Laura

 

[cwright]

I'm sorry to be the bearer of bad news, but we have used Care One and the only thing that it got us into was a mess. We payed them faithfully, but were still sued by 3 creditors. I would never recommend using them or any other debt management services. They are all pretty much scams. You can do what they promise on your own. If you are wanting to settle debt, work with the companies yourself. You will get better results and won't be out the $3.000-$5,000 in fees that you will end up paying. Sorry again for the bad news.

 

[mackeysmom]

I'm sorry to be the bearer of bad news, but we have used Care One and the only thing that it got us into was a mess. We payed them faithfully, but were still sued by 3 creditors. I would never recommend using them or any other debt management services. They are all pretty much scams. You can do what they promise on your own. If you are wanting to settle debt, work with the companies yourself. You will get better results and won't be out the $3.000-$5,000 in fees that you will end up paying. Sorry again for the bad news.

I asked my friend - she said that she continued to get bills each month from her creditors, so she was able to see exactly where/when her payments went each month.

As her cards were paid off she was given the choice of having that allottment of money redistributed to her other balances, or having a reduced monthly payment. She always chose to have it added to her next highest balance.

Now that she is getting to the end, she is seeing balances being paid off more and more quickly since her monthly payment is now being applied to $12K of debt instead of $50K+.

 

[DisMN]

I'm sorry to be the bearer of bad news, but we have used Care One and the only thing that it got us into was a mess. We payed them faithfully, but were still sued by 3 creditors. I would never recommend using them or any other debt management services. They are all pretty much scams. You can do what they promise on your own. If you are wanting to settle debt, work with the companies yourself. You will get better results and won't be out the $3.000-$5,000 in fees that you will end up paying. Sorry again for the bad news.

Were you doing debt management or settlement? That seems to be the difference between the program working or not working.

Hi -

I have one good friend who is 4 years into her 5 year CareOne plan. She has had nothing but positive things to say about it. It has forced her to rely on cash only and she has completely changed the way she thinks about and spends her money.

She has done so well on the plan, that her sister is now 1 year into HER 5 year plan.

I do know that both of them pay their American Express bills directly to Amex as they (Amex) don't participate with CareOne.

I hope that helps.

Good luck,
Laura

You are wonderful! Thanks for the *live* report from your friend. I'm more hopeful than I've been in quite some time so thankyou again!

p.s. best wishes and congratulations to your friend on hanging in there and getting it paid down!

 

[nike]

A freind of mine uses Care One and speaks very highly of it. She put seven credit card on and all but Walmart lowered her APR. But Walmart does take a few dollar off every month. You do make payment until they start up. She gets letter/ emails from Care one and credits every month. Some lowered the APR to 6% some are 10%. Everything helps out. She told me that the people that answer the phone are very nice and helpful. But you do pay them a fee depending on where you live it can be $30.00- $50.00 a month. You can make extra payments but they have to be though Care One. All these credit card are cancelled. If you have any question she would be happy to answer them.

 

[akayek31]

I was in the program for 8 months of a 5 year plan. I was paying more to care one in monthly fees than were going to the credit cards. My co worker uses credit advisors. org and says they have almost paid off their debt and they don't charge fees I believe. I am looking into that.

 

[mackeysmom]

I was in the program for 8 months of a 5 year plan. I was paying more to care one in monthly fees than were going to the credit cards. My co worker uses credit advisors. org and says they have almost paid off their debt and they don't charge fees I believe. I am looking into that.

I actually had lunch today with my friend (the one I spoke about a few posts up who is 4 years into her 5 year program). She currently pays CareOne a $48 monthly fee on a $1,400 monthly payment. With the exception of Dell and Amex, CareOne was able to get her credit card providers to significantly lower her interest rates. (To include lowering her Bank of America loan from 29% to 6% ).

Four years ago, the credit card companies would not do anything to help her when she tried to speak with them individually on her own.

In her case (and I do understand that everybody has a slightly different experience based on their personal debt/details), she feels that CareOne's monthly payment is miniscule compared to all of the $$$ she has saved over the past 4 years.

 

[Virgderon]

I actually had lunch today with my friend (the one I spoke about a few posts up who is 4 years into her 5 year program). She currently pays CareOne a $48 monthly fee on a $1,400 monthly payment.

Four years ago, the credit card companies would not do anything to help her when she tried to speak with them individually on her own.

In her case (and I do understand that everybody has a slightly different experience based on their personal debt/details), she feels that CareOne's monthly payment is miniscule compared to all of the $$$ she has saved over the past 4 years.

It's cool that it's working for her. I just want to put it out there that things are much different than they were 4 years ago when it comes to negotiating with credit card companies directly. The bad economy has changed the way they approach it.

Most of the major credit card companies are very willing to offer hardship programs and settlements, especially if you are more than 30+ days late.