Debt Settlement Service
The 1st Catch: Debt Settlements Require a Legitimate Reason
A debt settlement service has to present your case to your creditors and convince them of why they should agree to less than full payment of your debts. Creditors are smart people. So there has to be a legitimate reason.
For Profit Companies – Warnings
The 3rd Catch: Debt Settlement Companies Only Want Profitable Clients
Many for-profit debt settlement companies will offer to do debt settlements for anyone with $10,000 or more in debt (if you owe less than $10,000 you are not profitable enough for them so they may refer you to a non-profit organization like us), but just because they will offer to help you, does this mean that this is a good idea? Only settling a portion of your debt doesn’t improve your overall financial situation.
Related Debt Settlement Blog Articles (a bit of colour commentary)
Why Talk to Creditors?
When you’re in debt, your creditors can help you. But communicating with them effectively is key.
Debt Settlement Dangers
Working with a for-profit debt settlement company can cost you. Here’s what to watch out for.
Are you curious about what credit counselling is or how it works? Here’s what you need to know.