Shocking Facts - Debt Consolidation Loans and ScamsTom Bates,CDA
Debt consolidation scams are schemes that trick people into paying for services that are not effective. Scammers often promise to eliminate debt quickly and easily, but the reality is that debt consolidation takes time and effort. Fraudsters will typically ask for upfront payments, promise to sto...
The Federal Trade Commission’s How To Get Out of Debt: This FTC page teaches you how to exercise your rights under the Fair Debt Collection Practices Act and recognize debt-related scams and frauds. Studentaid.gov: You can have your federal student loans forgiven, canceled or discharged. Lea...
Ramsey claims that this method, called snowballing, allows you to beat debt a little at a time, so you will be able to see accomplishments sooner and gain momentum. [Source: DaveRamsey.com] Avoiding Debt Consolidation Scams As painstaking as it is, reading the fine print will help you ...
Whatever you think you know, whether it involvespaying off debt beliefs, the best way to save money, or anything else, you should think carefully about where you heard it and how reliable you consider that source. If you got financial advice from your unemployed uncle at Thanksgiving, that'...
Debt consolidation loans with bad credit generally have high fees and interest rates. However, there are bad credit debt consolidation loans, especially for people whose credit score is on the rebound. Avoid scams, shop around for the best terms, and compare interest rates, origination fees, mont...
The concept ofdebt consolidationis rather simple. You take multiple unsecured debts and roll them into a single new balance (that hopefully charges an interest rate lower than what you were paying before). This makes staying on top of your bills easier and can potentially save you a hefty su...
Debt Consolidation Scams Debt consolidation is yet another debt relief service that people opt for to get out of debt. The dread of bankruptcy and / or foreclosure makes the consumers resort to debt consolidation services, and a fraudulent debt consolidation company makes consumers its target in th...
Many regular banks and credit unions offerthese loans, and consumers who want to consolidate their debts can often manage the process on their own. But there also are debt consolidation specialists who reach out to those with high levels of debt to offer loans or say they can get you one....
Credit counseling and debt consolidation loans are appropriate for consumers with more modest financial stress on the spectrum of financial hardship. At the same time, debt settlement and bankruptcy can help those who have more significant financial stress. It is very dependent on the individual situa...