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Posted by: tudorjason on 2010-05-06, 20:50:00
It isn't a scam. They do debt management, which is different from debt settlement. I used them in '07. The only promises they made were that they would try to get my card issuers to lower interest rates and stop other fees so that your payments will actually mean something; your payments will help you get out of debt faster. They do charge a fee mixed with your monthly payment to them. I paid down my credit card debt from over $10,000 to just over $5,000. I didn't want to include all of my cards because I didn't want all of them closed. This is something you do need to be aware of. The accounts you include in this plan will be closed and they cannot be reopened. In '07, my credit scores were in the mid 600s. Now, they are in the mid 700s. |
