Q: Are those places that say they help you manage and reduce credit card debt and interest rates credible and if so what type of fees would they charge?
A: The short answer is to be very wary. Some firms, particularly on the internet, are frauds.
These aren’t my words; they’re from the Federal Trade Commission. Just because a credit repair firm claims they’re non-profit doesn’t mean their execs sacrifice high salaries. Also a non-profit subsidiary can be owned by a high profit company, and could act as a feed into the parent’s costly “debt consolidation” loans.
What to do?
Go to this site ->
http://www3.ftc.gov/bcp/conline/pubs/credit/repair.shtm – Then read and heed well. The outstanding step-by-step advice there is free.
If you need further assistance, you might contact your bank or credit union for more detailed explanations.
Beware the credit fixers (The News Journal)
Q: Are those places that say they help you manage and reduce credit card debt and interest rates credible and if so what type of fees would they charge?
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