Debt settlement company

WARNING!: Debt Companies that Offer Escrow Accounts Will Grow Your Debt

Today, I was talking to a young New Yorker who has large amounts of credit card debt. He was ultra the ultra competitive type. Do you know the type of guy I’m talking about? If you say “I saved the world today” he will have to one-up you and say “I saved the universe twice today”? Well he was that type of guy.

We got to talking about credit card debt and I told him that many of my clients have a lot of unpaid credit card debt. Of course, Mr. Ultra Competitive had to one-up my clients. He replied, “I bet they don’t have as much debt as I do”.

The thing that made my ears perk up was when he stated that he knew about this hot new debt elimination program.

He said “what you do is make a small monthly payment and they put your money into the their ‘escrow account’ then the company your pays your debt out of the escrow account.

I tried to tell him, that debt elimination via “escrow account” is one of the biggest ripp-offs out there.

For one, the debt elimination company usually requires you to pay a fee usually 15% of your overall debt.

Second, the debt elimination company doesn’t pay anything until you have a “reasonable settlement amount” in your escrow account. Meanwhile, you are paying them and they are not paying anyone.

The problem that I have with these escrow elimination companies, is that they lead (or mislead) you to think that once you put your money into the companies escrow account, your bills will be paid out of a pool of funds. These so called escrow debt eliminations companies, lead people to think that they are pooling their money in with the companies money and that their bills will be paid, with the company’s money,

This concept is a big rip-off. Do not fall for it.

By: J. Carlton Ford

One of the major causes of people getting deep into debt is an unexpected medical emergency or accident and having no health insurance to cover it. The costs for uninsured health care is often much higher than if you had insurance. They can get away with you charging you more because you have no one to fight for you.

When the medical bills become out of control, you may be considering bankruptcy. For some this is their only option. For some there is one last hope before they go with bankruptcy and that is debt settlement. In the article, you will learn about settling your medical bills and getting you the debt relief you need.

Debt settlement is the process of talking/negotiating with your creditors and trying to reach a fair settlement that each party can be happy with. Most people only think of settling credit cards when they consider debt settlement, but debt settlement encompasses much more than just credit cards. Examples of other debt you can settle include overdue rent, past due utility bills, department store credit cards, unsecured personal loans, medical bills and of course credit cards.

Debt settlement companies like Credit Solutions offer you a helping hand in your time of need. They have experience dealing with all types of creditors and getting your bills reduced so you can get control of your life again. They are not the only debt settlement company by any means. They do have their fair share of complaints too if you check the BBB. But any company of any reasonable size will always have complaints about its service.

That’s why you should do your research and read reviews of debt settlement solutions before you decide which company to go with. You might even find that doing it yourself is the best option.

By: Adam Tijerina