Debt Consolidators – Scams or not?

Many clients ask me if they should use debt consolidators to help settle their debts.  Very rarely do I see these situations work.  If they work, it’s usually because the clients could’ve done everything themselves.  Debt consolidators are many times set up by banks or have relationships with banks or creditors.  They make your payments after they’ve taken their cut off the top.  This arrangement doesn’t help with your credit and can simply drain you of those last few precious resources before you finally realize that you didn’t need a debt consolidator to help.  You needed good counsel on whether you should continue to try and pay back your debt or file for bankruptcy.  From my experience, most people who work with debt consolidators get further and further into debt, eventually filing for bankruptcy anyway.

If you are questioning whether or not bankruptcy or debt consolidators are the way to go, please call my office to set up a free initial bankruptcy consultation.  I will be happy to guide you through this decision.

Todd Courser 810-245-0813