Full Debt Settlement & Debt Consolidation Company Review
... Going by many web advertisements and corresponding websites, there "seems" to be a better way of saving money on your bills - debt settlement. The idea is that these companies are able to reduce all your debts that aren't tied to property by 50, 60, or 70%. Seems that the big creditors are willing to give these professional companies large reductions.
These sites also claim that they will bring you peace of mind from creditor calls, guarantee results, and do all this based on what you can afford to pay. Sounds too good to be true... doesn't it?
Well, the websites that are using this opportunity to scam are claiming that they can predict the future and promise precise payoffs and results in 1 or 2 years. Absolute non-sense, I assure you. No one can predict the future. How does one know? Every time the interest rates change or two banks merge, the policies change and this means that settlements also change. These scam companies also offer this to their takers:
- No Better Business Bureau (BBB) to prove reliability and good track record. Instead they have things like a Dunn and Bradstreet or Chamber of Commerce that any company can get.
- On the phone, promise future and wonderful results, but send a contract that reflects no guarantee nor promise of any results.
- Charge you a flat commission on your debts instead of a percentage of what you are saved.
- Suggest you sign up for a debt consolidation program and pay back your debts in full with interest.
- Suggest that debt consolidation doesn't appear on your credit report - it does, and costs you much more than debt settlement.
- Get you started and you never hear from them again.
- Actually get you deeper in debt by not doing anything on your accounts.
Being a watchdog of debt settlement, debt consolidation, and consumer credit counseling companies, my job is to thoroughly review and evaluate each company in the industry by talking to many past clients, checking credentials, and speaking with workers. Based on our extensive research and evaluations, I can only recommend 3 debt help companies out of the hundreds I have evaluated, as they have proven themselves as a legitimate means for an individual or small business to get out of debt. All these companies provide an initial free consultation. Their counselors guide you through the entire process, and personally help you resolve your debts.
If you have credit card, personal loans, or any type of business debts, you stand an excellent chance of saving a lot of money and having peace of mind that you have a solution in place.
Your friend,
M
