Debt Consolidation vs. Debt Settlement: A Primer by DebtRelief.us.com
CHICAGO, IL -- (Marketwire) -- 01/04/10 -- The Christmas shopping season has come and
Many consumers find themselves every year getting caught up in the
The amount of money spent on holiday shopping can be a sobering realization
Consumer advocate DebtRelief.us.com would like consumers to know and
Debt is a fairly straight forward process. This debt relief
Debt consolidators in Chicago, are they for real? Which one can I ...
Do not go to "debt consolidators" who spend big bucks advertising their services. Think about it – they need to make a lot of profit to pay for those ads. Who do you think they are making that profit from?
If you belong to a labor union, many labor unions have union benefits that include credit counseling, debt management , etc. Check that out.
Also some (repeat: SOME) churches, synagogues and other religious congregations’ leaders maintain lists of legitimate nonprofit debt assistance resources — but note: some also do NOT, and I have seen it happen that a well meaning religious leader will just "recommend" calling the place with the biggest billboard or the fanciest tv advertising too – so if you contact your religious organization ASK how they arrived the particular recommendations that they offer.
Generally the ones that claim they can "consolidate" your debts and REDUCE your TOTAL DEBT are lying.
The best that (legitimate) debt consolidation can do is (possibly) reduce the INTEREST RATE you are paying and MAYBE reduce the MONTHLY PAYMENTS — BUT … you will then be making those monthly payments for LONGER than you would have if you’d made higher payments for a shorter period of time.
DEBT SETTLEMENT: they all promise to "settle" your debts for pennies on the dollar, and they are virtually all scams.
DEBT MANAGEMENT: Debt management plans arrange for you to make one payment to them, which they distribute among your creditors in accord with arrangements they’ve made with your creditors. BE CAREFUL. Some can be legit, but there are many of these which are also scams.
If it sounds too good to be true, it probably is.
The only way you can truly "get out of paying" the debt you owe is by filing bankruptcy. NONE of these alleged "bankruptcy alternatives" can do the same thing legitimately and MANY are scams.
Debt Consolidation Chicago
debtconsolidation.moneybuiltin .com The following article discusses largely about the manner in which one can locate debt consolidation loans. The ...
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