How Do Debt Consolidation Companies Work?. Part of the series: Credit Card Debt. Companies that work in debt consolidation are usually non-profit organizations, and they work in several ways, including making contact with creditors to try and get a person’s interest rates reduced. Find out how debt consolidation companies place all bills together with help from an experienced businessman in this free video on debt consolidation. Read more: http://www.ehow.com/video_4874450_do-debt-consolidation-companies-work_.html
How Do Debt Consolidation Companies Work?
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They fail to tell you that some of these companies are scams and leave you in more debt than you started with. And, credit companies don't have to settle for the offers that these companies offer them. Therefore, the credit company can still sue you for the debt. They claim they will stand in your defense, but there is no guarantee that they will show up to represent or guarantee that they will win the law suit. Do your research before speaking to these companies. Watch out for the red flags, in the end…you can be worse off than before. Many of them are scams.
I like how the camera zoomed in as you took a sip of hot cocoa