These days American consumers are hemorrhaging under mountains of Debt. Where there is blood, there will certainly be sharks. Specifically I am referring to Debt Settlement companies. There is definitely not a shortage of shady characters in other forms of debt help, but due to the largely unregulated nature of Debt Settlement, the sharks can find much easier pickings.
After several years of research, direct involvement in the industry and hearing literally hundreds of horror stories during my consultations with consumers, I am convinced that better than 95% of the Debt Settlement companies in existence are leading clients to financial disaster. Either through Greed, Ignorance or both, they are charging big fees, for big promises and little results. It would be generous of me to say that most of these companies have less than a 25% success rate.
Over the years I have found one very common thread among the majority of these programs. Their salesmen (Pronounced, Telemarketers), do not educate consumers about what debt settlement actually is. This is because most of them don’t even have a clue themselves. Their job is to sell, sell, sell, not worry about whether or not a consumer will be successful. After all, they probably charge all their fees upfront. So why should they care if a consumer ends up in bankruptcy next year?
Debt Settlement companies are blasting Consumers with Television, Radio and Internet ads like never before. All promising the magic pill for what ails them. Let us cut your debt by up to 70%, just call now for a Free Consultation (Pronounced, Sales Pitch), and we will wipe out everything (Including your wallet).
Consumers are drowning and most of these guys are throwing out bricks. Do not call a debt settlement company for a consultation unless you already know if Debt Settlement will make sense for your situation. Just like you would never ask a car salesman if you should buy a new car, you don’t ask a debt settlement salesman if you should settle your debts.
Debt Settlement is an aggressive approach to getting out of debt. It is not right for everyone. I tried to find a video online that gave a straightforward and honest look at what debt settlement was and when it made sense. I couldn’t find one so I created my own.
If you are in Debt and really wanting to research and learn ALL of your options, I recommend you watch this video before calling any Debt Settlement Company. At the very least it will allow you to spot the sharks circling above your head.
Here is a link to the Free video