Debt Relief Reviews, Complaints & Scams
ARE YOU IN DROWNING IN DEBT? PAY OFF DEBT IN 2019
Do Debt Relief Programs Work?
Debt settlement companies negotiate with creditors to reduce what you owe, mostly on unsecured debt such as credit cards. … Settlement offers work only if it seems you won’t pay at all, so you stop making payments on your debts. Instead, you open a savings account and put a monthly payment there.
When Should You Seek Debt Relief?
- You have no hope of repaying unsecured debt (credit cards, medical bills, personal loans) within five years, even if you take extreme measures to cut spending.
- The total of your unpaid unsecured debt equals half or more of your gross income.
Are Debt Relief Programs A Good Idea?
Is debt settlement a good idea instead of consolidation? Debt consolidation is a way of simplifying your finances and reducing the amount of interest you’re paying on loans and credit cards. It will not adversely affect your credit rating, but it likely won’t help you pay off your debt quickly.