Quote:
Originally posted by Amputate Your Head
yeah.... they're legit.
Here's the deal though.... they're basically a financial consulting firm. What they do is sit down with you and evaluate and organize your bills, debts, income, etc.... they draw up a plan/budget for you and you stick to it to get your shit paid off. It's heavy duty.... it's not paying $10 bucks a month to Visa, and $15 bucks to Mastercard.... it's the opposite..... you pay them (your creditors) everything humanly possible until the shit is paid off, while you're eating cold beans and spending $50 bucks a month on groceries.... (forget about buying anything else)..... it's basically a budget plan for the very desperate.
What's in it for them? Well, you generally don;t pay them anything..... they get paid by the companies/creditors that you owe money to.
I've never personally gone through one of those.... never had the need... but they do work. It's brutal.... like, 6 months of brutal.... depends how deep into debt you are.... but it does work if you can survive it.
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except for the fact they fuck your credit,,,, its a simple equation, they are BUYING your debt so that creditirs can at least recoup .75 on the dollar.