How Do Debt Consolidation Companies Work?
Here is the low-down on Debt Consolidation Companies and Credit Counseling Agencies: Debt Consolidation Companies assess your debt and monthly payments and remedy your problem by negotiating with your creditors for lower payments. Othen times what people don’t realize is the fact that these companies are often times compensated by the creditors. If this sounded too good to be true…it is Often times there are hefty service fees, penalties for paying the debt off early, and unwanted solicitation by new creditors enticing you to buy more! Believe it… the same company that is ‘helping’ your family will notify creditors of your extra savings in an attempt to sell you more credit cards and loans!! The terms negotiated fail to benefit families for the long-term. A debt consolidation will extend your debt term keeping your in debt longer than necessary. Also consolidating your debt only solves the symptom, not the problem. If you are considering a strategy or plan to payoff debt contact a
