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How to Boost Your FICO Score
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Getting Food Stamps
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How to Consolidate Financial Statements
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How Does Chapter 13 Bankruptcy Work?
Guidelines for Filing Bankruptcy
How Old Do You Have to Be to Open a Bank Account?
How Many Bank Accounts Can a Person Open?
How Can I Get a Personal Loan?
How Do Debt Settlement Companies Work?
How Does FDIC Insurance Work?
Family Budget Tricks
Food Budget for Families of 4
Debt settlement can be a tricky game, as it can save the borrower money while simultaneously creating tax … More
Debt settlements and bankruptcy plans vary with regard to building credit scores and tax liability. Seek l… More
Debt settlement companies are actually formed by credit card companies in an effort to get some money paid… More
The response you get from a phone representative at a credit card company has a lot to do with why you're … More
Report a complaint on a credit card company to the Better Business Bureau or the Federal Trade Commission.… More
While credit card companies should owe a duty of care to their customers, they really do not at all. Find … More
Credit card companies make much of their money from assessing finance charges on unpaid balances. Even if … More
When you've got a high amount of credit card debt, it's hard to make any headway even if you're making the… More
In order to get out of vehicle debt, the simple answer is to pay whatever is owed on the vehicle so that t… More
There are many different reasons to trade in your current car for a replacement car. The big question: Is … More
A car payment can take a chunk of your monthly income, so many people look for ways to get rid of their ca… More
So you have a 30-year mortgage and you want to pay it off early by making larger payments. You need to kno… More
Selling a home at lower than the payoff is common in times of financial hardship, as the amount owed is gr… More
Using savings to pay off a personal loan is not advisable because savings are intended to use for emergenc… More
Many people have found out the hard way that it's all too easy to rack up huge amounts of credit card debt… More
Summary: Debt settlement companies are actually formed by credit card companies in an effort to get some money paid down on a debt. Understand that many debt settlement companies charge a fee that does not go towards the debt with insight from a registered financial consultant in this free video on debt settlement.
Patrick Munro's affinity for investing and financial matters began more than 20 years ago with business education and service throughout the ranks of the banking, insurance and...read more
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"Our next question today is how do debt settlement companies work? This is financial adviser Patrick Munro. Debt settlement companies in fact are the credit card companies themselves. There are various companies that have company names that are on a contract basis with the credit card companies. Credit card company realizes that if you don't pay a credit card balance, there's no return on that portfolio so therefore they created this debt settlement companies that offer a solution to debt settlement. What it is is just a way for the company to get something out of you going forward. Either way your credit will be in a bad way if you retain these individuals. They pay upfront fees, some of the ones that are untrustworthy will charge you an upfront fee as well which takes care of their company before the credit card company. In a word you want to stay away from debt settlement companies. Anything that sounds too good to be true, is, more often than not. They make wild claims saying that they're going to tell you secrets that the credit card companies do not want you to know. Everything that a credit card company has is in your card holder agreement. If you read it, that's the way it is and ultimately the credit card company can change their mind about the card holder agreement. So that is how debt settlement companies work. This is financial adviser Patrick Munro."
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