In this short, Dave Ramsey Breaks The Debt Relief Trap. ???? Think debt relief companies are your ticket to financial freedom? Think again. Dave shares the shocking truth about how these companies take your payments, force defaults, and destroy your credit. Stop falling for debt relief scams. Get real solutions for your credit card debt. Learn why companies offering “easy” payment plans might be your biggest financial nightmare. #DaveRamsey #DebtFree #CreditCardDebt #DebtRelief #MoneyTips #FinancialFreedom #Debt #PersonalFinance #CreditScore #DebtFreeJourney
I destoyed my credit just cancelling all cards and debt free.
Mah, thank God I cancel my account with them just two days after reaching out .
Ramey = Shill for Banks and NOT for the common Folks ????
So as someone who works for a debt relief company, he failed to mention that the $16,000 is actually just an estimate and the amount she would need to pay in the end could actually be much higher for a longer period than 48 months, and also that the longer accounts are delinquent, you run the risk of the creditors filing a lawsuit. If they file a lawsuit and you don’t have the funds saved up in your escrow account to be able settle the debt before the court hearing, they could end up garnishing your wages or liens on property, things like that. There are actually a lot of cons to consider before enrolling in a debt settlement program. Now all that being said, there are a lot of people the program works out well for and they are super grateful, but it could also go south in many different ways. People need to have more awareness of what they’re getting into before they sign up.
I really wished I would have heard this from Uncle Dave before I got suckered into that debt relief con. They destroyed my credit and really only saved me about $500 ????
Great information
So I have a mortgage already . I have about 25k of debt I want to get off my back . The thing about these services or settling is the interest stops accruing. It sucks to destroy your credit but in the end you are saving a ton of money by not paying insanely high interest rates
The reason he says not to do it because that is his competition. He wants you to buy his books, get his products
He tells you to stop worrying about credit and you dont need credit but then says, that plan will mess up your credit. So which is it, we should care about our credit or not? He knows those company are good at negotiating a lower amount and then use snowball to pay off fast. He doesnt like tgose companies because all his callers are enrolling with these co and not his little apps and buying his books lol
I thought you didnt care about credit.
And yet they tell us that our credit rating is just a sham, and cash is king, so who cares about destroying our credit?
Seniors give Helps nonprofit lawyers a look on YouTube and learn that you retirement income is protected by law. You don’t need to pay debt settlement company or card companies either. I’m a helps client and they saved me a lot of money. ???? I’ve done the research call Helps ????
I made a fatal mistake and got into wcomtract Brightside Solutions and made my $434 month payment for two years!!they never even contacted my creditors or paid them either!! !!
That sucks????
Credit cards are literally a nightmare!
Unless it has already been sold to a debt collector & their credit is already destroyed.
When you settled for less what you save you pay in fees AND you have to pay income tax on it
Coll video,thanks!
You can destroy your credit rating but time and obedience to paying current debt can heal it.
But Dave I thought credit was useless
So wait, Dave’s worried about him destroying his credit yet his FICO score is 0?
IF you are functionally bankrupt- start by talking to a lawyer that does that sort of thing.
I thought this guy didn't care about credit scores? Also, I could have sworn that he didn't pay his debt either, declared bankruptcy, and then became rich while leaving his creditors holding the bag.
This is coming from the guy who always says that a good credit score is a joke so why would he care if yours gets destroyed lol
Why not stop charging anything on your cards. Pay off the one you owe the least amount on. Then pay off the next one. All the while learning to make a budget and living within your means.
But dave credit score doesn’t matter!
I take what Dave says and do my own thing. Credit scores high own 70 percent of my house. Drive older cars. But loans don’t scare me cause I’m not dumb with em I ship interest rates and if it makes sense at the time. But clearly not every one is as smart as this dumb construction worker that stays in the dirt all day.
Destroyed your credit ? says the no credit guy, lol