Debt Settlement Good Financial Advise or Scam?
- Article was written by Jeff Morris for US Debt Relief Firm
Question: Dear Financial Adviser,
I have a handful of credit cards that total about $23,000. I wanted to consolidate with a debt consolidation loan, but my mortgage company denied me from a second mortgage because I have no equity. Just recently, I received a letter from a debt settlement company. What is your financial advice for disposing of this debt? Thank you. — Tina
Response: Dear Tina,
Thanks for your letter regarding debt settlement. I want you to understand that there are many options for confronting debt and that the best solution depends on your needs and goals. What appeals to most consumers about debt settlement is that they can eliminate their debt faster and actually pay back less than what is owed. Unfortunately, the there have been some shady of debt settlement companies promise financial solutions that they do not deliver. According to the Federal Trade Commission, these companies either go out of business or run a scam for the consumer’s money. A good debt settlement will help you escape credit card debt quicker and will outline a plan for you to be debt free within a year or two. Finding a debt relief company with a proven track record is essential.
Read the complete article > Debt Settlement Solution or Scam? The debt relief article was written by Jeff Morris from the US Debt Relief Firm.
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