I am not sure to which specific program you are referring, as Bills.com offers referrals to many qualified professionals and programs that can help you with your debt problems. Since I do not know the details of your overall situation, I cannot say which program would be best for you.
First, if you simply want to locate a qualified provider of debt help, Bills.com makes it easy for you to apply for qualified providers of debt help, by following this link:
Also, please explore the Bills.com website; it is a great resource to find out what options may be right for you.
From your question, it sounds like you are looking to negotiate with your creditors to reduce the balance of your accounts. If a compromise with your creditors is what your situation demands, you could not make a better choice than Freedom Debt Relief (Freedomdebtrelief.com).
Since I am not connected with their organization in any way except as an independent professional resource (question answerer), I can give an objective opinion about FDR (Freedom Debt Relief). I have made it my business to review all of the negotiation service providers out there, test them, interview insiders who know the good, bad and ugly and recommend the best provider in several categories (characteristics) essential to client satisfaction. FDR is the unquestioned and by far superior performer in all categories. So, I am always happy to make a referral To FDR if the client's situation requires it.
If FDR's program does not suit your needs, you should also consider a debt consolidation loan, which, although it would not reduce the balance of the debt, could help stop it from growing any further.
As to your rogue creditor, I am faced with this situation more often than I care to say. Some creditors are very aggressive in marketing micro accounts to the most vulnerable people with current financial problems. Their fees and rates are so outside the norms of the legitimate credit markets that they could not compete except in the "sub-prime" market, generally described as folks who have, for whatever reason, already encountered financial problems. These creditors justify their business practices by claiming that were it not for them these debtors with problems would not be able to find credit anywhere. They claim that their rates and various fees (set-up, membership, maintenance, cash, late, over-limit) are so high because of the huge risks they are shouldering in the effort to serve the underserved. My question to that response is, "well, if your fees justify the risk then why do your rates of return and net profits outstrip the performance of the conventional credit markets?" Obviously they are charging way over what the real risk justifies. Plus, the account upper limits are so low, in your case $800, how much risk is there in that, really?
Thanks for using Bills.com. I hope that my discussion has helped your understanding of the credit trap. I believe that you are on the right road and you have chosen a good place to start.
I certainly wish you the best outcome. Don't hesitate to contact me during the course of your program, whichever one you choose, to report and discuss your progress.
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