www.InCharge.org – InCharge Debt Solutions is a nonprofit credit counseling agency that can help you find solutions to your debt problems. Our certified counselors will help you find a solution, putting you back in charge of your life.
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Question by mommytomonkey: What are the cons of using a debt consolidation/credit counseling service?
Do these services negatively effect your credit? If so, for how long?
Are there any major pros to these services?
Best answer:
Answer by Renaissance Man
Yes, they negatively effect your credit. All you’re doing is paying them to poorly manage your debt. What they do is put you into default, on purpose, and then negotiate with your creditors. It ruins your rating even further and makes them rich doing it.
You need to do what is called a “debt snowball”. It’s explained on this site. It’s ultra simple.
First, scroll down and click “Listen to Dave”. JUST LISTEN.
http://www.daveramsey.com/tdrs/index.cfm/2007/9/17/Getting-rich
This one audio clip of his CHANGED MY LIFE when I heard it.
Listen to this man for free, on the radio or online. This is like getting financial wisdom from Bill Gates except this guy has a national radio show. He takes a call like yours atleast once a week.
What do you think? Answer below!
