Debt Relief Companies

My 21 year old son wants to buy a home theater system using a Visa card and it did not intend to repay. He says it's OK because the debt relief companies advertising on shows like Hannity and Rush will fix it for you. It seems to me that someone must pay for it in the end, but I know Rush and Hannity would never advocate anything unethical.

It's very simple ... they take your money and you need more. there is nothing they can do that you can do yourself. It's all a scam.

The consolidator works to a compromise with your creditors whereby you agree to pay an amount less than you really need in exchange for a note in your credit file you're a bad risk and fraud. Your creditors will close your accounts and you probably will not get something on credit for years. What describes your son is called "fraud" by the courts. If he tries this stunt, I hope he is caught and imprisoned. The bills do not pay these scofflaws are passed on to those responsible in the form of higher interest rates and service charges.

depends on who you talk really.

Some of them are scams.

others have two options ....

Contact creditors and get them to lower interest rates and cancel your credit cards. and put you on a payment plan where you pay the consolidator will charge you a commission monthly account maintenance, which is still less than the interest on credit cards today.

The alternative plan is to contact the creditor and get them to settle accounts with less than what is actually owed.

Business debt relief to negotiate a debt, but it will not eliminate it. I think they usually just get rid of all accumulated interest. If it is the mark of the new debt, they would not be able to get much.

I never, ever buy anything that Hannity and Rush made. Hannity and Rush are unethical and wrong.

It is a circle - You spent more than you - contact the companies say the reduction of debt - they convince people to pay them money - they keep the money and do nothing - start at the top

They are aware that fraud.