How do i quit debt consolidation company.

the company promised me that it would take me 30 months to clear my debt but now they said i have four more years after three years.I want to quit.How do i quit without problem.

4 Answers

I woiuld be requesting a detailed accounting to find out where all your money went and why the term is being lengthened.

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I guess it's very important to live upto your repayment terms ever since you join a debt consolidation program. Have you defaulted again? I'm simply wondering about why they've shifted from what they had promised earlier.

If it was mentioned in the contract that they would make you debt free within 30 months, then you can quit the program. You can just send a letter to them to inform that you want to quit the program. But keep in mind that the company is less likely to return the fees paid by you. You'll have to start negotiating with your creditors all over again.

What does your contract with them say? The non-profit company that I use states that you can cancel the service at any time, but you interest rates will go back to what they were before the debt management company was able to negotiate them to a lower level. Again, it will be what the contract says. Good Luck.

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