Posts tagged as:

credit counseling

There are no secret programs to get out of debt

March 23, 2009

Consumer lawyers and collection lawyers agree about as often as Bill O’Reilly and Keith Olbermann. But one thing they do agree on is the dubious value of most for-profit companies that promise to get consumers out of debt.
They go by many different names: credit counseling agencies, debt settlement companies, debt negotiators, etc. They usually charge [...]

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AmeriDebt Returns $13 Million To Debt Management Scam Victims

September 23, 2008

AmeriDebt Returns $13 Million To Debt Management Scam Victims | New York Consumer Litigation

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Sam on credit counseling agencies in Bench & Bar

July 31, 2008

Sam on the dubious value of credit counseling agencies and what to look for when considering referring a client to one.
Bottom line: not really worth it.
For more information about credit counselors and debt settlement agencies, see Debt settlement companies and credit counselors–are they worth the fee?
(Click on the picture for the full article.)

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Debt settlement companies and credit counselors–are they worth the fee?

July 30, 2008

Perhaps some are. But when NetDebt charges “15% of the amount of debt you bring to their program (regardless of results or the number of creditors it must deal with), plus a “small” monthly service fee of $50,” I have to wonder.
So if a consumer had $20,000 in debt, he or she would owe $3,000, [...]

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Credit card payoff through debt management/credit counseling programs: be careful!

January 1, 2008

Our next-door neighbor in our office building, Tara McCarthy, was quoted in a Star Tribune article about a family who paid off $35,000 in credit card debt over four years and eight months. John and Cheryl Martin racked up their debt, but, as John said, “we really didn’t have much to show for all the [...]

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