Cons of consolidating debt whos dating olivia wilde
Debt settlement is a scam, and any debt relief company that charges you before they actually settle or reduce your debt is in violation of the Federal Trade Commission. When you consolidate your debts or work with a debt settlement company, you’ll only treat the symptoms of your money problems and never get to the core of why you have issues in the first place.
You don’t need to consolidate your bills—you need to pay them off.
Once their fee is accounted for, they promise to negotiate with your creditors and settle your debts. Well, the debt settlement companies usually don’t deliver on helping you with your debt after they take your money.
They’ll leave you on the hook for late fees and additional interest payments on debt they promised to help you pay!
You’re in deep with credit cards, student loan payments and car loans.
Minimum monthly payments aren’t doing the trick to help nix your debt, and you’re flippin’ scared.
The solution requires you to roll up your sleeves, make a plan for your money, and take action!
For college students and graduates with multiple student loans, it can be confusing and annoying to try and keep track of all of those loans and payments, especially if they’re due at different times each month.
If that’s not bad enough, fraudulent debt settlement companies often tell customers to stop making payments on their debts and instead pay the company.
Debt settlement companies also charge a fee for their "service." Often, the fee is anywhere from 15–20% of your debt.
Think about it this way: If you owe ,000, your settlement fees would range from ,500–10,000.
Their behavior hasn’t changed, so it’s extremely likely they will go right back into debt.
Let’s say you have ,000 in unsecured debt—think credit cards, car loans and medical bills.