What is the difference between Affordable Debt Solutions and consumer credit counseling, or debt consolidation companies?
Credit counseling services usually work for your creditors, earning a percentage of what you pay to your creditors. In most cases, you will be expected to pay 100% of your debt, plus interest, by making smaller payments over a longer time period. Because credit counseling makes its money by earning a percentage of the amount you pay your creditors, their incentive is to get you to pay 100% of your debt, rather than to try and settle with your creditors. Debt consolidators will loan you money (and charge interest) to “consolidate” your debt, and you will pay off your debt at 100% of the debt amount, sometimes including late fees and additional interest. At Superior, we will negotiate a settlement of your debt, for as little as 50% of what you currently owe. Once a settlement is reached, you never have to make another payment!
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