Debt Settlement Companies – Can They Settle Your Debt?
Question: I’ve heard ads on the radio for many debt settlement companies, and I saw your previous question about them and debt consultant companies. What else do you know about them? Can they settle really settle my debt?
Answer: A recent report stated that:
the chances of you becoming “debt free” from using one of these American style debt settlement programs is less than 10%, and 65% leave the program having paid for a service they never received.
Many large credit card companies don’t deal with these debt settlement companies.
So, before you part with your hard earned money, be sure to investigate them thoroughly, to ensure that you are dealing with a company that can actually solve your debt problems. Some of them might be able to, some of them can’t, so do your research first.