Comments on: How do debt consolidation companies make money? http://bestdebteliminator.com/debtquestions/how-do-debt-consolidation-companies-make-money/ Call 888-653-9681 To Get Debt Help Now! Mon, 06 Feb 2012 15:49:52 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Tomk http://bestdebteliminator.com/debtquestions/how-do-debt-consolidation-companies-make-money/#comment-3720 Tomk Fri, 08 Jan 2010 17:49:32 +0000 http://bestdebteliminator.com/debtquestions/how-do-debt-consolidation-companies-make-money/#comment-3720 They charge you a fee to handle your situation. That's how they make their money. Sometimes they work their fees into your monthly payment and the total still comes out less than if you were trying to pay all the bills separately. Nobody legally reduces their debt from $40K to $10K without filing bankruptcy. Beware of those exaggerated claims. If you are really behind in payments and the creditors think you are a heartbeat from filing bankruptcy, they will negotiate to reduce the amount you owe by about 30-35%. That's how the consolidator gets your debt reduced, but not by 75%! They charge you a fee to handle your situation. That’s how they make their money. Sometimes they work their fees into your monthly payment and the total still comes out less than if you were trying to pay all the bills separately.

Nobody legally reduces their debt from $40K to $10K without filing bankruptcy. Beware of those exaggerated claims.

If you are really behind in payments and the creditors think you are a heartbeat from filing bankruptcy, they will negotiate to reduce the amount you owe by about 30-35%. That’s how the consolidator gets your debt reduced, but not by 75%!

]]> By: A.J. http://bestdebteliminator.com/debtquestions/how-do-debt-consolidation-companies-make-money/#comment-3719 A.J. Wed, 06 Jan 2010 01:29:41 +0000 http://bestdebteliminator.com/debtquestions/how-do-debt-consolidation-companies-make-money/#comment-3719 Its fake.....they pay them to stop the debt and then they make you pay them back like twice as much. Its fake…..they pay them to stop the debt and then they make you pay them back like twice as much.

]]> By: Meow http://bestdebteliminator.com/debtquestions/how-do-debt-consolidation-companies-make-money/#comment-3718 Meow Sun, 03 Jan 2010 08:44:46 +0000 http://bestdebteliminator.com/debtquestions/how-do-debt-consolidation-companies-make-money/#comment-3718 They charge a fee They charge a fee

]]> By: bill t http://bestdebteliminator.com/debtquestions/how-do-debt-consolidation-companies-make-money/#comment-3717 bill t Thu, 31 Dec 2009 17:14:01 +0000 http://bestdebteliminator.com/debtquestions/how-do-debt-consolidation-companies-make-money/#comment-3717 by pretty much bilking people further? by pretty much bilking people further?

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