Debt Problems

What exactly do those "debt relief people" do for you, and what is the cost?

Public Comments

1. Basically it is filing bankruptcy. They act as a clearing house. They take all but 30% of your income to paydebts. They take their fee first. If there is enough left over they pay your creditors. It is nothing you cannot do yourself. Call each creditor. Negotiate on your own. It works. Sears, Exxon would rather get a little each month then have you bankrupt. Of course all of your current cards would be invalidated. It is okay. I lived without credit for 8 years. Just have to adjust your wants.
2. They may offer a loan and budget counseling, at the price of the money you exactly need in your pocket...
3. The cost depends on the one you go to. They in effect give you a loan so you pay them. They conslidate the loans and usually save you some money. You then pay just them. They get the amount owed lowered because they pay the company, usually trying to get a bunch at once, and the company will lower it because they are getting paid.
4. It costs you more money than you already owe.
5. There are some credit counseling agencies that are non-profit and will really help you. They negotiate with your creditors on your behalf, they put together a repayment plan so you can take care of your debts at a lower monthly payment, and they handle the money. You just make one payment to them once a month. They do not charge you a fee. Their fee is paid by the creditors. This is not the same as bankruptcy at all. It is much more positive. You can make a free inquiry with the credit counselor I recommend. There's no cost or obligation. Go to http://necessaryvirtues.com/go/4022/15 Good luck!
6. Debt consolidation and debt relief involves different process and different choices. Two articles in my resource boxes talk about how do debt consolidation agencies work. Hope it helps. Good luck!
7. Debt relief people provide credit counseling. Credit Counseling Programs http://www.complete-debt-info.com/category/Credit-Counseling-Programs.html
8. No cost. If you are asked money by somebody then run. By using services from a debt relief organization you will stop receiving phone calls asking you for money. You will pay a fixed rate amount every month which will never go up. You won't be dealing with your creditors any more. The "debt relief people" will be paying your bills for you, and your credit card company is out. You then pay the debt relief company. lots more here: http://finance.ebookorama.com http://credit.ebookorama.com http://credit-repair.ebookorama.com http://credit-cards.ebookorama.com good luck!