For those overburdened with debts, debt consolidation companies offer themselves to be the savior of such people. But, till how far are these companies true to what they offer? Are they really the saviors they suggest themselves to be? Lets find out.
Kristy Welsh, famed author of the book “ Good Credit Is Sexy
The companies may be putting up an ad of non profit services, but the fact is that they collect revenue from the customer’s money, without the client knowing about it. Its only at a later stage that some people see that their debts do not at all decrease. Even worse is credit ratings are destroyed due to the late payments of the companies. The money thus earned from the clients are spent into the salaries of executives which could range up to $300,000 a year.
Now, there is a simple solution to this problem, and that is customers should negotiate, they should work hard to get a better deal rather than to think of the company as a magic pill. As Kristy says, “As in weight loss, people want a magic pill to take instead of having to diet and exercise. Similarly, people just want to hear that they can hire a company to miraculously reduce their debt and make it go away.”
