PostHeaderIcon Are debt management companies worth the risks?

Is is worth my time and effort to used a debt consolidation company? Are there any good companies? What are they? How will it affect my credit score?

3 Responses to “Are debt management companies worth the risks?”

  • Barbara K says:

    No. Stay away from them. They actually lower your credit score.

  • KLR says:

    No. They charge a fee and it still reports negatively on your credit report. If you ask me you come out the same filing bankrupt.

  • bean says:

    your best bet is to either take out a personal loan from your bank to pay off all of your debts or work out plans with each individual company you owe – those consolidation programs destroy your credit because you don’t pay your bills and then your accounts go to collections and thats when the companies step in to settle the debt – I wouldn’t do it

Leave a Reply

Powered by Yahoo! Answers