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Author Topic: Has anyone tried those debt solutions places?  (Read 567 times)

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Offline Burke

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Has anyone tried those debt solutions places?
« on: June 25, 2009, 12:13:00 PM »
If so, How do they work.

I have done the income vs. outgoing bill math and...it's not good :(.

 


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Offline Bob Wessner

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Re: Has anyone tried those debt solutions places?
« Reply #1 on: June 25, 2009, 12:24:47 PM »
From what I can tell, most are little more than scams and just add their fees to your debt. Do LOTS of research before even considering them. There may be some legitimate ones out there, but they are out numbered.
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Offline Caaveman82

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Re: Has anyone tried those debt solutions places?
« Reply #2 on: June 25, 2009, 12:29:21 PM »
Quote from: Burke on June 25, 2009, 12:13:00 PM
If so, How do they work.

I have done the income vs. outgoing bill math and...it's not good :(.

 




All they are are loan companys that give you a consolidation loans with INSANE fees and percentage rates. You'd be better off consolidating everything into a loan from the bank at like 7 - 12 %. If your debt to income ratio is that bad that's probably one of your only shots at making it short of filing for bankruptcy.

I went through the same thing not long ago man, it's overwhelming but you'll make it through.
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