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The Internet is a resounding success. Very few visionaries predicted just how popular it would be. Millions of people didn’t pay much attention to it at first, but nowadays most of us would be lost without it. We can research any topic; shop to our heart’s content without leaving home, and stay in touch with friends, business contacts, and co-workers all over the world. We can also do any number of financial transactions including those with debt consolidation lenders online.
The debt consolidation category is a huge business sector doing billions of dollars in annual transactions. The reason this industry is so successful is that there is so much debt in the US – using credit to buy things is the American way! We love our credit cards, and as a result many of us find ourselves in deep financial straits. We’re bombarded daily with all sorts of offers for low interest, high limit credit cards.
Debt consolidation lenders love Americans’ desire of wanting everything “right now” because they get to profit from these lapses in judgment. In their advertising they present themselves as knights in shining armor riding to our rescue, and debt-carrying individuals by the thousands believe them. Money worries are some of the most stressful and any possible solution looks good when we’re in a pinch.
Usually credit counseling and debt consolidation firms operate by offering to negotiate with all of your creditors for lower interest rates and payments. The person actually owing the money pays the debt consolidation lenders a fixed monthly fee. They in turn send it on to the credit card company or other creditor. These services can be very helpful as long as their costs aren’t out of hand.
Many companies in the debt consolidation business call themselves “not-for-profit”, which sounds great. Anytime we see this designation we assume that the organization isn’t in business to make money. Sadly, many of these firms are deceptive and try to take advantage of people already in trouble. They charge high fees, often hidden or called a one-time “setup” or “administrative” charge. Debtors that use nefarious debt consolidation firms can end up owing even more instead of less. There have been so many complaints that the Internal Revenue Service (IRS), Federal Trade Commission (FTC), and others are conducting ongoing investigations. Their easy access via the Internet has put even more money in these consolidation services coffers.
To find a debt consolidation specialist who can aid you in developing a personal debt solution, please complete and submit the form found on this page. We can help ease the burden of your debt and help you begin building a healthy financial future.
Which Debt Consolidation Lender Should You Choose
Debt consolidation companies give you some excellent offers to fish you out of your difficult financial situation. But can you rely on every company under the sun?- the answer is a big No! You can’t believe every company’s promises without judging it. There are multitudes of companies whose business is to make persons like you victims. They will ‘rob’ you, your money and leave you in a more difficult position. Before making the final deal with a company, check that:
The reputation of the company:
You get debt counseling from it:
You are asked reasonable fees: