mom digging out asked:
And not have an effect on you? How can I get my credit card debt reduced? I need help with credit card debt reduction!
How can debt reduction programs get credit card companies to let you pay a portion of your money back and it?
They just haggle with them to get lower interest rates. Or if they are old debts, they convince them that you are broke and are not going to pay anything at all if they don’t take a certain amount. You can do the same thing. Debt reduction programs look bad on your credit. have you looked into. It may give you some insight.
It does affect you.
What they do is not pay your creditors for months and then try and settle for less. No magic. No special skills. They just don’t pay. It’ll trash your credit and you will be treated as if you filed for bankruptcy if you try to get a home loan.
Also, if they don’t pay your creditors. you, and you alone are still responsible for the debt. Your creditors will come after you and not the company you hired.