Do debt relief programs work?
On One Hand: Debt ConsolidationOne legitimate debt relief program is a debt consolidation loan. Those who take out consolidation loans are able to make regular payments to the consolidation company. This allows those in debt to manage their finances more easily by simply having one debt payment instead of several. Interest payments can also be reduced.On the Other: Debt Relief ScamsMany debt relief programs do not have the ability to relieve consumer debt. They lie about their abilities to lower interest rates and then charge consumers fees for their consultation. Oftentimes, they even lie about the fee they are charging, telling the customer that they will lower interest rates for free.Bottom LineCheck with an attorney to find out whether or not the debt relief program is legitimate.
