Why do it yourself? The Federal Trade Commission thinks this might be the best way!
Self-Help May Be Best
Finding a reputable debt consolidator is not an easy task. They all sound great, but make sure you do all your research before going this route.
Debt consolidators and non profit debt relief companies can charge you nearly 30-40% in processing fees when you hire them, as well as many other hidden fees such as a savings fee, stretching fee and a check processing fee. These fees add up and in most cases you probably won’t be able to afford it. Countless people who choose a debt consolidator end up filing bankruptcy.
By doing it yourself with our Self Help Guide, How to Negotiate and Settle Your Own Debt, you will have that 30-40 percent in your pocket, giving you the opportunity to pay down or settle other debts. This will help you get out of debt even faster.
Many people get frightened or threatened into settling a debt by a collection agency, or get trapped into a payment plan they can’t afford.
This is the most common mistake made by the consumer. These types of settlements can do more damage to you then you might be aware of.
How to Negotiate and Settle Your Own Debt will give you the tools you’ll need to obtain a settlement/payout you can afford. In most cases you will get a better settlement/payout by doing it yourself. Many creditors and collection agencies don’t like working with debt consolidators and debt settlement companies because they consume the savings with fees that should really be going to them.
There are many creditors who will not even work with a debt consolidator. Once they find out that you have hired a debt consolidator, they may send your account to an attorney and file suit.