Settlement Percentages Exclude Program Fees

Many of our clients and online business partners have asked on numerous occasions - How does one settle their debt

? Well, loans on secured assets can be repaid gradually, depending on the rate of interest. Loans from official lenders, although declining in relative terms, have actually helped to reduce debt.

Bill consolidation companies do more than consolidating your bills. In addition to that, debtors are enrolled in credit counseling, so that they won't make the same mistakes again. Bill consolidation: Under this type of program, interest rates on credit card bills, medical bills or utility bills are lowered and any late fees or over limit charges may be eliminated to help you pay off debt conveniently. So, you pay less toward your bills and save money each month.

Settlement companies often advertise that they can save you 50 percent or more of what you owe, with repayment typically taking between two and four years. If you do not have the money to repay your debts, where does the money come from for the settlement? Settlement percentages exclude program fees and do not guarantee that your debts will be reduced by a specific amount or percentage or that you will be debt free within a specific period of time.

Credit Counselors then sends a pre-arranged payment and as you pay off your creditors, and work towards being debt free, the remaining creditors get a larger payment, while your monthly payment remains the same.

Credit card counseling and education is the only way to fight this issue. Credit Card debt consolidation is a short term answer to a much broader problem. Credit money, on the other hand, does not have these drawbacks. The money should be issued and be given, given not as a loan, but as a rightful share in the development of the economy, to each and every citizen.

by: Karri Owens

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