Given the financial stress that so many Americans are experiencing, there are more and more debt consultants offering so called “free to start the plan” debt settlement. Why not save yourself a ton of dough and be your own debt consultant and settle what you owe on your own?
Really, you will not spend more than a few hours settling your own debt and it is quite easy.
Here is why you should consider being your own debt consultant if you are financially strapped and need to settle your debt:
These companies make a bunch of money unbeknownst to the consumer. They Debt consultants skillfully sell the fact that there “are no upfront fees to start our program”.
Most of them do not share the truth about how their firm makes money, but I will.
Another part of the debt consultant’s sales pitch when offering to help you settle debt is this; “we have a guarantee that we will settle your debt for no more than 50 cents on the dollar”. This sounds good on the surface, but the fact of the matter is this:
They will settle your debt for more like 10 – 30 cents on the dollar. That means that for every ten thousand dollars in credit card debt you owe, they make between $2000 & $4000. You see, their profit is the difference between their guarantee and the end negotiation.
The thing is, being your own debt settlement consultant is quite easy. There is actually a low cost, easy to follow, step-by-step guide that teaches you the ins and outs of the process. Do yourself a favor and do it yourself. You will save a bunch of money.