Q&A: What do debt consolidation companies offer for people who are in debt?
What do debt consolidation companies offer for people who are in debt?
Can anyone tell me about debt consolidation companies and their services?
Best answer:
Answer by scaramonga
a chance to end up worse than you were.
Give your answer to this question below!
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They will charge a fee to get your debts cleared. You have to be £15000 in debt for them to help you. Do not consider an insolvency option. The firm will arrange for say £300 a month to be payed for 5 years. Their fees are payed first trust me.The remainder will go to your creditors. The £300 will rise each year so it will be more like £500 a month.
At the end of the 5 years when you believe you are free of debt your creditors will still be able to chase you for the money you owe.
Bankruptcy is the best option. For a small fee you will be cleared of debt in a very short time. Both options ruin your credit rating however.
They are but yet another business venture. Be advised that the first goal of such a company is to make money for themselves. If people in debt seek their services, be advised that you come to the second. Remember , we are capitalist society-a dog eat dog world.
They offer you even more debt by charging you for services that don’t help one bit.
If you want
* over 50% of your debt negotiated away
* become debt free as soon as possible
* Avoid bankruptcy
* reduce your total debt balanced
* one affordable monthly combined payment
* home ownership not required
* free quote with no obligation
Check this site,
http://Debt-Consolidation-USA.com
Here you can get free quote from all debt specialists that available in your area. It’s free and fast