3 Responses to “What is the difference between Debt Management and Debt Consolidation Companies?”
iluvbirds25
Debt consolidation companies are scamming people like crazy.
Fox news report had a 15 minute show on this.
Some debt consolidation are calling themselves negotiation.
and vise versa.
They take your money and dont pay your bills. You end up in court.
You can do this yourself.
Go to a bookstore and get a book like
credit repair for dummies
there is nothing they cant do you cant do yourself.
If you dont have time to read look up in your phone book not online
consumer credit councelling services in your area
They will take over and tell you to do what those books tell you to do.
Google the name of any company followed by the word
scam ripoff or complaints
you will see pages and pages or sites
/
OffGridder
Debt Management This is when a fee is charged to manage your finances and debts because you might not have time or for whatever reason. There are dodgy companies out there and there are good companies as with any industry. You will most likely pay a fee for this service.
Debt consolidation unless you know what you are doing try and stay away from this as you are effectively taking a loan to pay of debts including their interest and then you will be paying interest on top of that. Use as a last resort only or if you get a really good deal in that your interest rate is substantially reduced.
Be careful and do as much homework and as many calculations to truly understand each process and whether the company will help you.
Debt consolidation companies are scamming people like crazy.
Fox news report had a 15 minute show on this.
Some debt consolidation are calling themselves negotiation.
and vise versa.
They take your money and dont pay your bills. You end up in court.
You can do this yourself.
Go to a bookstore and get a book like
credit repair for dummies
there is nothing they cant do you cant do yourself.
If you dont have time to read look up in your phone book not online
consumer credit councelling services in your area
They will take over and tell you to do what those books tell you to do.
Google the name of any company followed by the word
scam ripoff or complaints
you will see pages and pages or sites
/
Debt Management This is when a fee is charged to manage your finances and debts because you might not have time or for whatever reason. There are dodgy companies out there and there are good companies as with any industry. You will most likely pay a fee for this service.
Debt consolidation unless you know what you are doing try and stay away from this as you are effectively taking a loan to pay of debts including their interest and then you will be paying interest on top of that. Use as a last resort only or if you get a really good deal in that your interest rate is substantially reduced.
Be careful and do as much homework and as many calculations to truly understand each process and whether the company will help you.
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