First if you haven't learned yet these companies are not really non-for-profit.
Second they are not looking out for your best interest.
These companies are playing both sides and I come from the old school if money
is involved you can't honestly provide the best service for both parties.
You can do anything that these companies promise they can do without the
added expense and dissapointments.
Also more than 95% of their clients end up in bankruptcy. Wow what a track
record.
My advice to you and I'm speaking from personal experience, start your financial
life over and forget about what people may think.
So what are these companies exactly suppose to do for you? They are suppose
to negotiate with your creditors a lower interest rate or payment amount.
Sometimes they promise to lower the amount you owe a creditor. For doing this
you're suppose to send an agreed payment to them to distribute to all of your
creditors.
The benefit you send one check each month they pay all of your bills.
THE REAL DEAL...
These companies usually rip you off. They can't make it off of the small
percentage they charge you to handle everything. I've seen news reports stating
that some companies never sending any payments to the creditors. And some
sending only a few payments to the creditors.
They prey on people with financial problems and they take advantage of the
emotional state of these individuals. They know that these individuals are broke
and they don't have money for a lawyer to represent them and if they do they tend
to settle out of court.
If you have one person out of thousands that can afford to sue you, they'll play
those odd again and again.
My advice to you and I'm speaking from personal experience, start your financial
life over and forget about what people may think. |
