Debt Settlement Dangers

Warnings To Avoid Debt Settlement

…they come in and say they’ll settle your debts and then they charge such a fortune that you wish they hadn’t even helped you. -Senator Charles E Schumer

Credit counseling is NOT debt settlement, if you are  speaking with a debt settlement organization it is HIGHLY ADVISABLE YOU PICK UP THE PHONE RIGHT NOW AND SPEAK WITH A CREDIT COUNSELOR.  Debt settlement can be a high-risk, low reward type of debt solution.

According to the BBB many consumers that participate in such programs may end up in more debt, in court and even face more financial hardship.  Most of the reputable consumer protection authorities have very strong warnings against debt settlement.

The Better Business Bureau, the Federal government and most state Attorney Generals have all issued warnings, law suits and are creating new consumer protection laws, to help protect people just like you.

If you are considering debt settlement CALL A CREDIT COUNSELOR NOW, read this table below, and view the following videos, near the bottom of this page.

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Reasons Why You May Want To Avoid Debt Settlement

 

Important Questions To Ask

Credit Counseling

Debt Settlement

Will It Hurt My Credit? NO YES
Will You Continue To Pay My Creditors? YES NO
Will I Stop Getting Collection Calls At Home & At  Work? YES NO
Can My Wages Be Garnished When In The Program? NO YES
Can I Receive Court Summons When In Program? NO YES
If I Follow The Program Can You Guarantee My Debt To Be Paid? YES NO
Will I Continue To Get Late Fees? NO YES
Will I Continue To Get Over The Limit Fees? NO YES
Will This Bring Me Current With My Creditors? YES NO
Will I Receive Potential Attorney Fees? NO YES
Will My Debt Be Sent To Collections? NO YES
Will I Pay The Program Fees Up Front? NO YES

 

The Debt Settlement Warning Videos

Federal Government Warnings About Debt Settlement

Better Business Bureau Warnings About Debt Settlement

Recent News on Debt Settlement Scams

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