special relationships settlement
The debt settlement companies claim to have special relationships with creditors and they can get better deals than you. They also claim they can solve the debt problems in a very short time (6 to 8 months). Finally, they say that if you work with them, creditors will not sue. The reality is that although it may be true that these companies will lower the monthly debt, the other claims are false.
The stark reality is that debt settlement companies do not have special relationships with creditors. Then there are the fees or commissions. Not all the money you deposit in your savings account is directed to pay the debt. Usually between 15 and 20 percent goes to the debt settlement company as payment for their services.
But that’s not all. Your credit history may suffer even more damage. If you stop making payments, the creditor will report this to the agencies …
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Tags: Business, Company, Credit history, Creditor, Debt, Debt consolidation, Debt settlement, Financial services