what are the disadvantages to using a debt management company?

Fri, Aug 15, 2008

Debt Management Q&A

seeker asked:




I have credit card debt that I am considering using a Debt Management Company. Any thoughts?

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4 Comments For This Post

  1. Viv' Says:

    some of them charge fees to reconcile debts. You should services like Consumer Credit Credit in your area. This is a free, state and federally funded organization that will work with you and make a budget for you, but most importantly it’s FREE.

  2. paradiseagain07 Says:

    consult w a fee based financial advisor first… they are cheaper. otherwise, go to your local book store, and go to the financial/business section and look for books regarding managing debt…

  3. fountain1751 Says:

    ok people need to realize that if you or someone else negotiates a lower sum to pay ona acredit card to pay it off you are taxed on the money you dont pay as income. i know this from expierence 10 yrs ago

  4. Jennifer Says:

    Hi,
    I used “Credit Solution” to settle my debt and improve my credit score.They managed to reduce my debt up to 58%.It’s legitimate.I came across this company on NBC News Special Edition.Check it out here:

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