Credit Counseling: What Are They? What Do They Do?-00-6419

By Author: rafalinares
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Very merely in most cases they are collection agencies working for and in effect controlled by the credit card companies. We'll explain this more beneath. What may they do for me? At most, they'll help you lower your interest rates a little. Usually only with esteem to credit cards with companies that are more than willing to participate. Usually what you actually need is to eliminate a good deal of debt Credit Counseling Agencies are of no use whatever. Only bankruptcy may actually throw away debt. Is it any wonder that credit-counseling agencies hate bankruptcy? They work for the credit card companies and the credit card companies acknowledge that the one thing that may "unhook" you from their control is bankruptcy. Usually you can't recompense all your bills and want to look at a credit-counseling plan the second best advice I may give is to first check out how bankruptcy works and what it will do for your family. You will be completely astonished. Bankruptcy is such a lot better than credit counseling. Usually you don't take the time to check out bankruptcy before you sign up for a credit-counseling plan, you will never ...
... acknowledge until it's too late. You may find out FREE when it comes to bankruptcy and any bankruptcy law firm worth its salt offers a FREE INITIAL CONSULTATION. Usually advice I may give you is never put good money into the hands of any of these organizations. Why? Because you probabilities of success with credit counseling are slim to none. Usually of these organizations seem to be lawful "non-profit" businesses, consecrated to helping persons. These are called credit-counseling organizations. Usually lawful organizations and agencies set their customers up on repayment plans that leastways lower interest rates somewhat on sure debts. These are commonly just your credit cards.

The most of the organizations that run ads on TV, and especially on the Internet, are merely scam organizations. Particularly the ones that offer to make persons debt free without payments and without filing bankruptcy. Their goal pure and simple is to sucker innocent persons into sending them money. The sad thing is that persons actually fall for these scams. As an effect, a good deal of good, honest, hard-working, but not street-wise persons end up sending in a good deal of hard-earned money. These persons get perfectly not one thing in return accept the sinking feeling having been "suckered" and the heartache of losing hundreds or thousands of hard-earned dollars that could have been utilized to take care of their families. It just makes us sick and we just hate it for these families. The bottom line: There is no truer saying than "If it sounds too good to be unfeigned it's. " Unfortunately, there's very little whether or not anything in the form of State or Federal regulation to oversee and protect the public against these scams. Particularly no easy way for the public to separate the scams from the possible non-scams. To make things worse a good deal of so-called credit-counseling agencies and debt management organizations pretend to be lawful. These agencies and organizations merely trick persons out of money. Particularly, one or more States' Attorneys General has sued Ameridebt. Why? Particularly Ameridebt held itself out as being a non-earnings organization it wasn't. Allegedly, this organization illegally absconded with its customer's full first payment, money that will have to have been utilized toward the payment of the customer's bills.

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