Dont even waste your time; it will ruin your credit worse and tell you that you can't make any payments to your current creditors so they can negotiate a hardship restructure with your creditors.
They say they will add a credit line to you just so your credit useage will be lower but it is not a loan for you to pay back. This will in fact make your score higher but then you will have negative non-payment reports from the other creditors and you wont be able to get any credit anywhere after that for a reasonable rate.
They are sending mailings that you qualify for a consolidation loan but that is just a scam to get you to call and waste your time for them to settle with your current lenders.
This company approached me in a perfect time with very high credit card balances. After some conversation I decided I will go with them because turms seemed to be favorable.
I had many question about how the program works and how they will charge. Representative told me that this is 3 yrs program and their charge comes down to this, 7-10% anulally and will be incorporated into my by-weekly payments I will make to this savings account they will set up for me, no added charges or hidden fees. So I automatically thought if they settle an account in next 12 months they will charge me somewhere 7-10% of the original balance.
We went through the contract with the same representative but she skipped somehow what later on became the biggest problem.
When 1st settlement got done I was surprised that they charged and automatically took from my saving account 25%. I called and expressed how upset I was. I felt misinformed. If I would've know that I never would've go for this program. What I saved on settlement almost everything went to them in fees. This time I've ever heard about th 25% charge.
So I was very upset but after some brain wash, they told me how much more I will save and what a bad situation I will get myself if I stop the program because now interet accumulated, continued. Till next settlement came and again they withrawed a large amount of money. So basically I didn't really save any because they took it in fees. So I decided to kick them out but surely they took all my money from my savings account saying they earned it even though they DID NOT pay the settled acount just took their fee.
Plus they didn't communicate with my cresitors so I actually got into much worse situation than I was before. Some of creditors were getting ready to take me court because Americor didn't send the fund for next payment. They kept all the money so basically they wiped out my savings account what they've set up. They were total control over my money.
I am currently having legal issues with my crditors because of Americor. Plus i've lost a lot of money. DIDN'T WOTH IT.
Be aware of charges and how they present it to you. Record every conversation, otherwise you gonna fell sorry. Your words against theirs. After signing contract and starting programs no one mentioned the 25% but after that's all they were talking about, it's in the contract, I signed it. The problem is that you go through contract with a person and she forgets to bring this to your attantion. And her explenation about charges is totally different and misleading. They also rush you to sign up. They know what they are doing. For 25% much less people would sign up. If you do the math it wouldn't really worth it. It's amazing how they beat around the bush on charges before I signed up but after it was a definite 25% of original amount. Impression I had at initial conversation that they will pay creditors 1st and than themselves but of course that wasn't the case either. They took it right away after settling so I had to wait for my savings account to fill up again to make and other or except an other settlement.
So many more things didn't add up but it would be too long to name everythin. Just be cautious or better yet not to deal with them to avoid all problems this company can bring into your life.
It's a shame that a company can do this to people and take advantage of.
Americor Funding Reviews
Dont even waste your time; it will ruin your credit worse and tell you that you can't make any payments to your current creditors so they can negotiate a hardship restructure with your creditors.
They say they will add a credit line to you just so your credit useage will be lower but it is not a loan for you to pay back. This will in fact make your score higher but then you will have negative non-payment reports from the other creditors and you wont be able to get any credit anywhere after that for a reasonable rate.
They are sending mailings that you qualify for a consolidation loan but that is just a scam to get you to call and waste your time for them to settle with your current lenders.
This company approached me in a perfect time with very high credit card balances. After some conversation I decided I will go with them because turms seemed to be favorable.
I had many question about how the program works and how they will charge. Representative told me that this is 3 yrs program and their charge comes down to this, 7-10% anulally and will be incorporated into my by-weekly payments I will make to this savings account they will set up for me, no added charges or hidden fees. So I automatically thought if they settle an account in next 12 months they will charge me somewhere 7-10% of the original balance.
We went through the contract with the same representative but she skipped somehow what later on became the biggest problem.
When 1st settlement got done I was surprised that they charged and automatically took from my saving account 25%. I called and expressed how upset I was. I felt misinformed. If I would've know that I never would've go for this program. What I saved on settlement almost everything went to them in fees. This time I've ever heard about th 25% charge.
So I was very upset but after some brain wash, they told me how much more I will save and what a bad situation I will get myself if I stop the program because now interet accumulated, continued. Till next settlement came and again they withrawed a large amount of money. So basically I didn't really save any because they took it in fees. So I decided to kick them out but surely they took all my money from my savings account saying they earned it even though they DID NOT pay the settled acount just took their fee.
Plus they didn't communicate with my cresitors so I actually got into much worse situation than I was before. Some of creditors were getting ready to take me court because Americor didn't send the fund for next payment. They kept all the money so basically they wiped out my savings account what they've set up. They were total control over my money.
I am currently having legal issues with my crditors because of Americor. Plus i've lost a lot of money. DIDN'T WOTH IT.
Be aware of charges and how they present it to you. Record every conversation, otherwise you gonna fell sorry. Your words against theirs. After signing contract and starting programs no one mentioned the 25% but after that's all they were talking about, it's in the contract, I signed it. The problem is that you go through contract with a person and she forgets to bring this to your attantion. And her explenation about charges is totally different and misleading. They also rush you to sign up. They know what they are doing. For 25% much less people would sign up. If you do the math it wouldn't really worth it. It's amazing how they beat around the bush on charges before I signed up but after it was a definite 25% of original amount. Impression I had at initial conversation that they will pay creditors 1st and than themselves but of course that wasn't the case either. They took it right away after settling so I had to wait for my savings account to fill up again to make and other or except an other settlement.
So many more things didn't add up but it would be too long to name everythin. Just be cautious or better yet not to deal with them to avoid all problems this company can bring into your life.
It's a shame that a company can do this to people and take advantage of.