Comments on: Christian Debt Consolidation

By: Mitch

Mitch — Thu, 21 Oct 2010 14:33:19 +0000

I don’t believe you read the entire post, otherwise you’d see that I only mentioned credit counseling once, and certainly not about this scam.

By: Debt

Debt — Wed, 20 Oct 2010 07:48:47 +0000

sir,
What you are describing is referred to as Debt settlement or Debt negotiation, which is a very different and more aggressive strategy than credit counseling.
Debt recently posted..Debt Restructuring Helping You Gain Control Of Finances

By: Mitch

Mitch — Thu, 29 Oct 2009 23:43:46 +0000

Yup, these guys are certainly the worst, but the ones calling themselves “Christian” to try to take advantage of that group step closer to being even worst than the worst, if that’s possible.

Thanks for sharing the video; I hope a lot of people see it.

By: Damon Day

Damon Day — Thu, 29 Oct 2009 23:32:50 +0000

Hey Mitch,
To avoid confusion, what is typically referred to as debt consolidation is actually consumer credit counseling. That is where the company will go in and negotiate your interest rates up front and you still make your monthly payments to the creditors every month, but hopefully at a lower interest rate.
People refer to this as consolidation because instead of paying all of your creditors, you just make one payment to the Credit Counseling company and they disperse the money to your creditors.

What you are describing is referred to as Debt settlement or Debt negotiation, which is a very different and more aggressive strategy than credit counseling.

You are correct that most of these guys are crooks and certainly give what I call the peaches and cream version of what they are actually doing.

Most of these guys are the worst of the worst. They will charge huge fees, all the while telling the client they are doing something. To help counter the misinformation I created a video a few months back to give consumers a real education and understanding of exactly what debt settlement is.

That way they can make an informed decision, based on their specific circumstances as to whether or not a strategy that aggressive makes sense for them.
.-= Damon Day´s last blog ..New Debt Settlement Video is Eye Opening for Consumers =-.

By: Mitch

Mitch — Tue, 13 Oct 2009 13:42:41 +0000

That’s true, Komal. But for those people who didn’t do it, and are in trouble, they need to be wary with whom they decide to get help from.

By: Komal

Komal — Tue, 13 Oct 2009 07:55:34 +0000

Hi,

Here, i have some suggestions. Planning before spending is the best thing. Debt free life is a best life. It lets you keep moving smoothly.

—————–
Komal
http://www.debtfinancialmanagement.com

By: Mitch

Mitch — Mon, 07 Sep 2009 20:42:41 +0000

Hi DC,

It works as long as people select the right kind of debt consolidation. I hate seeing people taken advantage of.

By: DC

DC — Mon, 07 Sep 2009 05:14:24 +0000

I like the blog, it conveys right solution for the debt troubled. Many other people struggling with debts and need to regain control of their finance. I think Debt consolidation would be the perfect solution for the people who need help for their debts.Debt consolidation is the most economical way to get out of debt, as instead of many payments to various creditors, the debtor will make only one.

By: Sire

Sire — Sun, 16 Aug 2009 01:31:36 +0000

Yep, I’ll put it on the to do list.
.-= Sire´s last blog ..WassupBlog’s Ultimate Blogging Contest =-.

By: Mitch

Mitch — Fri, 14 Aug 2009 06:36:45 +0000

That’s what it should be about, Sire, but over here, it’s not. It’s almost a post you could write for one of your blogs; you know which one lol

By: Sire

Sire — Thu, 13 Aug 2009 22:58:31 +0000

Yeah I was wondering why it was such a short post, certainly not your norm.

As for debt consolidation, that’s not what they are doing at all. To me debt consolidation is when you get one loan at a decent rate with little fees that you then use to pay off ALL your existing loans. That way you only have one loan and set of fees to worry about.
.-= Sire´s last blog ..Updating The Update On Snap Dollars =-.

By: Mitch

Mitch — Thu, 13 Aug 2009 14:02:11 +0000

You didn’t see the whole post, Sire. I just took a look based on your comment and noticed that it had only printed two paragraphs. Stupid coding; take a look at the whole thing now.

By: Sire

Sire — Thu, 13 Aug 2009 13:36:02 +0000

Naturally you want to make sure that it’s the best interest rate you can get and the fees aren’t going to kill you.
.-= Sire´s last blog ..Updating The Update On Snap Dollars =-.