5 Things Debt Settlement Companies Won't Tell You: Get the Facts on Negotiation!

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A debt settlement company won’t tell you these 5 critical things, and with good reason. You would not need to hire them, or would be better prepared to compare companies and alternatives if you were aware of these important facts about how they generally operate.

READ THE ARTICLE THAT INSPIRED THIS VIDEO: http://consumerrecoverynetwork.com/debt-settlement-companies-5-things-you-will-not-hear

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For a list of of best practices for negotiation companies and additional information about how to settle credit card debt yourself see: http://consumerrecoverynetwork.com/debt-settlement-company-review-best-practices/

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Michael Bovee started CRN in 2004 with a mission to provide people in need with detailed credit and debt help. The DebtBytes Channel is an extension of the CRN blog, and is dedicated to finding the debt relief option or strategy that works best for you.

Comments

Tony says:

I recently contacted and agreed to pay National Debt Relief to help me settle my credit card debt. I signed up because they have very good reviews and a A+ rating in BBB. After continuing to search the company and Global Client Solutions I noticed a lot of things I was concerned about. Like one for example was that the companies don’t do what they promise and hide a lot of hidden fees along with other information regarding how the program actually works. I’m worried now and I’m debating if I should just cancel the program and try and settle my own debt by calling my Collection companies instead. Any help would be gladly appreciated and thank you

Redskinsunit Gaming says:

Debt settlement is a great option for people that are making minimum payments and struggling on a monthly basis. Typically people that dont save or have enough to save within 3 to 5 months. Settlement can be a great way to settle large amounts

Redskinsunit Gaming says:

I work for a debt settlement company, at the end of the day the people we enroll are going through true financial hardships. The type of people you're talking about are typically people who do have money to pay them off within a few months. The people I enroll aren't getting out of the debt within months they are looking at decades of interest. I'm glad to be one of those Companies were we do inform all of our clients of the pros and Cons of debt settlement.

enchainedtreasures says:

I almost worked with GreenPath because my credit union recommended them on their site. It was supposed to be "Free financial advice." Is this a debt settlement company?

kenny s says:

Mine actually talked to me about these things.

Michigan USA/Singapore S.E.Asia says:

Talk to fast to digest

Amber Farley says:

Im being sued by Portfolio Recovery. The debt was originally 700 now Portfolio wants 2400. Im sending them a letter of validation. I believe its an old debt.

Mixxmee xo says:

The resolve website is really confusing everytime I log out and try to log back in it is really difficult.

Abasi Akan says:

Thank you. Your honesty has compelled me to share this and refer you to anyone I know in need of your services…..including me 🙂

Tommy Feehan says:

Hi Michael, I am 67 years old and I saw your video about a company that’s deals with senior citizens with there bad debt. Can you give the company name and info to contact him, I would appreciate. Thx

Ms. Philosophy says:

I 'm an accountant knows this thing, he is right. I work with one of the company before that is why I know what he saying. If you have nothing to lose why settle. no one goes to jail for debt BUT will cost your wage and lien to your property.

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