Comments on: What is the deal with the debt reduction programs where you do not have to consolidate or take a new loan? http://saving-money-news.com/debt-reduction/what-is-the-deal-with-the-debt-reduction-programs-where-you-do-not-have-to-consolidate-or-take-a-new-loan Daily Money Saving Tips, News and Information. Wed, 09 Jun 2010 00:16:07 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: bdancer222 http://saving-money-news.com/debt-reduction/what-is-the-deal-with-the-debt-reduction-programs-where-you-do-not-have-to-consolidate-or-take-a-new-loan/comment-page-1#comment-189 bdancer222 Thu, 07 Jan 2010 23:47:39 +0000 http://saving-money-news.com/debt-reduction/what-is-the-deal-with-the-debt-reduction-programs-where-you-do-not-have-to-consolidate-or-take-a-new-loan#comment-189 There are a lot of debt relief/counseling companies that are scams. They take their fees up front and trash your credit. Most of the time they cannot do what the promise. It is possible to settle old debt for less than the full amount but you don't need to pay a company to do that for you. Just contact the creditor. Be sure to get any settlement agreement in writing and don't give them access to your bank account. If you have a lot of debt and need help, go to this site: http://www.nfcc.org/ . This is Consumer Credit Counseling Service (CCCS), a legit, non-profit company that offers free counseling. They also have debt management program available, if you qualify, at no fee. They can look at your finances and advise you of the best way to proceed. There are a lot of debt relief/counseling companies that are scams. They take their fees up front and trash your credit. Most of the time they cannot do what the promise.

It is possible to settle old debt for less than the full amount but you don’t need to pay a company to do that for you. Just contact the creditor. Be sure to get any settlement agreement in writing and don’t give them access to your bank account.

If you have a lot of debt and need help, go to this site: http://www.nfcc.org/ . This is Consumer Credit Counseling Service (CCCS), a legit, non-profit company that offers free counseling. They also have debt management program available, if you qualify, at no fee. They can look at your finances and advise you of the best way to proceed.

]]> By: Sun and Sand http://saving-money-news.com/debt-reduction/what-is-the-deal-with-the-debt-reduction-programs-where-you-do-not-have-to-consolidate-or-take-a-new-loan/comment-page-1#comment-188 Sun and Sand Thu, 07 Jan 2010 23:06:11 +0000 http://saving-money-news.com/debt-reduction/what-is-the-deal-with-the-debt-reduction-programs-where-you-do-not-have-to-consolidate-or-take-a-new-loan#comment-188 It can be done, but be very very careful or you will lose your shirt. It can be done, but be very very careful or you will lose your shirt.

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