Comments on: Debt Consolidation a SCAM?

By: RomeoTurbo

RomeoTurbo — Sat, 26 Sep 2009 23:54:14 +0000

omg … eye opening …
omg … eye opening!!

By: ucerper

ucerper — Sat, 26 Sep 2009 23:54:14 +0000

Thinkingman is …
Thinkingman is absolutely right. All the research I have done indicates you just have to try your best to pay off your debt. Don’t put a middle man between you and your debt. You alone will make timely payments. Standard scheme by debt consolidation services is to take your money, put it in escrow and not make payments. Then you get default notices and say what is going on and you call company. They say it’s a mistake and say they will fix it. But they don’t. You end up with more debt.

By: ucerper

ucerper — Sat, 26 Sep 2009 23:54:14 +0000

be very careful. …
be very careful. when you goofle CCCS, some known scammers come up. you are in shark-infested waters. you have to swim very carefully through them. Do your research and proceed very carefully. If it sounds too good to be true it is to good to be true.

By: ucerper

ucerper — Sat, 26 Sep 2009 23:54:14 +0000

She is so right. …
She is so right. Don’t trust debt consolidation companies at all, even the ones that say they are nonprofit, even if they have good BBB ratings. I have a good credit rating and have been making all my payments, but had my interest rates significantly raised by one cc company. When I called to ask for a lower interest they said no and suggested I get credit counseling and he gave me a number. Thought I was going to get advice, instead the lady suggested debt consolidation. The two were in cahoots

By: ljshoreslokal

ljshoreslokal — Sat, 26 Sep 2009 23:54:14 +0000

You only need …
You only need credit if you’re to buy a house or a new car? Wrong, bad credit effects your ability to rent apartments, get car insurance and maybe ruin your chances with some jobs. People are running your credit for lots of reasons and can deny you based upon your bad credit. Having good credit is insanely important in lots of aspects in life. The real lesson to learn is being responsible and not living today on tomorrows money.

By: pondman76

pondman76 — Sat, 26 Sep 2009 23:54:14 +0000

Yes please …
Yes please consolididate in illinois, I made 1.3 million in 2008 from you brain washed pathetic consumers, my consol, company buys up your unpaid debt. harasses the out of you, then— I spend 2 month in the islands on your dime! keep it up people, you make me very wealthy.
Credit cards are a GOD send so are lazy consumers, both make my life MUCH better than yours…
Keep charging America !

By: bobba2k

bobba2k — Sat, 26 Sep 2009 23:54:14 +0000

I haven’t had a …
I haven’t had a credit card in 6 years. I cant imagine being 20k in credit card debt, it would take a lifetime to pay off.

By: montyloree

montyloree — Sat, 26 Sep 2009 23:54:14 +0000

This is good advice …
This is good advice… very clearly stated.

By: Thinkingman

Thinkingman — Sat, 26 Sep 2009 23:54:14 +0000

Problems with …
Problems with Suze’s solutions, or lack there of
1. settling Debt on your own is suicide, might work but trust me they will come and collect. and in her example who has 7000 to settle on their own.
2. Most CCCS companies are bankrolled by credit card companies, you will be paying for a long time. Your credit will also be shot.
Remember this is money you owe, so you HAVE to pay it, She really doesn’t offer YOU any solutions.

By: MiCasaMiDinero

MiCasaMiDinero — Sat, 26 Sep 2009 23:54:14 +0000

The terms of the …
The terms of the settlement can be negotiated. If one of those terms is to report the account as paid in full, they’ll have to follow through.
However, it has to be in writing and not just in a plain conversation. This physical proof in writing may be used for the credit bureaus to rectify your credit report in case the creditor does not follow through with the promise of reporting the account as paid in full.
There are creditor that will do it and there are creditor that will not.Negotiate!