Brett BittnerThink Twice Before Using a Debt Settlement Agency
If you are truly in trouble with your finances beyond what suggestions I have made here, you may be considering using a debt settlement agency. Before you consider that any further, check out this post on the Consumerist from a former employee of a scumbag agency. Outside of Consumer Credit Counseling Services, I don’t know of a legitimate entity that can actually HELP someone who is drowning in debt.
Bankruptcy law firms make a TON of money wiping out debt, but many people would be better off changing their lifestyle and expenses than to mark their credit file with a bankruptcy for seven years. I know some people who rack up bills, don’t pay, rack up more debt, and file bankruptcy, and then they repeat. With a little restraint, they could end up “in the black” and living a more comfortable life, rather than their “feast and famine” that ends with nothing.
Filed under: Credit Cards, Debt, Scams, budget | Tagged: consumerist, Credit Counseling, debt settlement, scumbag
what sort of folks do you know. RE~ (I know some people who rack up bills, don’t pay, rack up more debt, and file bankruptcy, and then they repeat.)
smh - they need alot more than any debt consolidator can help with. watch out they may rob you any second now, thats the next HIGH for them, you need to offer them psych help (on the cheap of course)!