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Debt Consolidation Companies
Wednesday, Aug 12, 2009
Question: Is it legal to have a company negotiate your debt with credit card companies by collecting money from me and then paying the credit card company? How do I know if it is a legitimate and honest company?
Debt negotiation and settlement is the process of negotiating with your creditors to either establish a new payment schedule at a reduced interest rate, or a lump sum payment that’s significantly lower than the total balance. If your only other option is bankruptcy, your creditors may be willing to negotiate with you to ensure that they get something rather than nothing. Read Bills.com's
article to learn more about debt negotiation and settlement.
Debt consolidation, by contrast, is consolidating your bills to reduce high interest rates and pay off delinquent payments with a loan or low interest credit card. You are not reducing your debt. You’re simply rolling over your debt into a loan or credit card that has a lower interest rate. It will ultimately save you money in the long run but in the beginning, you’re still stuck with the same amount. Read
Debt consolidation, by contrast, is consolidating your bills to reduce high interest rates and pay off delinquent payments with a loan or low interest credit card. You are not reducing your debt. You’re simply rolling over your debt into a loan or credit card that has a lower interest rate. It will ultimately save you money in the long run but in the beginning, you’re still stuck with the same amount. Read
Bills.com's article to learn more about debt consolidation.
The answer to your second question is a little more difficult. It might be easier to learn what to avoid, first. Read Bills.com's article about shady debt consolidation companies and learn what to watch out for.
Bills.com partners with a reputable debt relief companies. To get matched with a pre-qualified partner, see this link: Debt Help
I hope this information helps you Find. Learn. Save.
Bill
www.bills.com/blog
The answer to your second question is a little more difficult. It might be easier to learn what to avoid, first. Read Bills.com's article about shady debt consolidation companies and learn what to watch out for.
Bills.com partners with a reputable debt relief companies. To get matched with a pre-qualified partner, see this link: Debt Help
I hope this information helps you Find. Learn. Save.
Bill
www.bills.com/blog
Also, make sure to get a free financial health check-up with Bills IQ!
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1. Posted by leon vernon walker on Wednesday 12th August 2009 14:23
we are a new non-profit, california corporation. what is the best way to learn all that we can about credit cards and consumer debt. we do not charge for any service. we are starting out, vets. debt counselors.