Many people are mired in credit card debt and tempted by ads promising to settle debts for less than half the amount owed. But there are risks associated with debt settlement.
Debt is easy to fall into, but it's hard to get out.
Experts we spoke with say the first you should do is call your credit card company and try to negotiate a settlement - even if you've been turned down before.
But if you do enter into a debt settlement program - you still must pay your bills.
If you don't fees and interest will be added, your credit will be negatively affected and you could be sued.
If you decide to pay a company to settle your debt, do your research first - even an internet search with the company's name and the word "complaints" will help you learn from other people's experiences.
Remember, debt settlement companies cannot collect a fee before a debt is settled.
But when they do, that fee could be a substantial percentage of the amount you supposedly saved by hiring the debt settlement company.
Another option is to contact a credit counselor for help managing money and developing a budget.
A bankruptcy attorney might be another option for you if you're still having problems.
Click here to find an approved credit counseling agency.
Source: http://www.msnbc.msn.com/id/46687407/ns/local_news-fort_myers_fl/
chuck series finale mitch hedberg welcome back kotter 2001 a space odyssey barefoot bandit polar bear plunge lovelace
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.