The debt relief industry doesn’t really have the greatest reputation for some reason or another. Perhaps the reason is because we secretly harbor resentment for people who get in way over their heads and look for solutions other than paying off their debt! When you can solve your debt situation yourself by begging, pleading, calling your creditors to come up with a repayment program, why would you let a debt settlement company charge exorbitant fees? If you make your case strong enough, you might even get the credit card company or the bank to forgive a portion of what you owe!
Thanks to the horrendous economy in recent years, consumer debt levels have risen to alarmingly high levels. From buying that new car you shouldn’t have, to big screen TVs that ruin the feng shui in your bedroom, to luxury clothing with 95% margins that never get worn, to nice vacations which you think you deserve, to $100 meals per person, people’s consumer debt has blown up in a bad way. Never fear though! With the government ready to bail you out with incredibly long unemployment benefits, free money for your mortgage, and credits for paying on time (shouldn’t you do that anyway?), some consumers will be alright. But for others, in come the debt relief companies to save the day! Maybe.
The Issues With Debt Relief Companies