Quote:
Originally Posted by payoutless
As I understand it these companies do not make the payments for you but merely setup a payment plan, which if you follow, will result in the payoff of your debt. Do I have that correct?
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Not necessarily. The companies do what their customers require them to so. Each customer is different in what they need.
Some companies will call your creditors and negotiate down on your behalf and require that you close out your CC accounts (so as not to be charging more on the account while you pay the company) and they (the company) divides up the payments among all the accounts you've asked them to handle. You can and do pay a fee for any of the services.... though many "fees" are hidden. Nothing in this world is truly free. You pay for that peace-of-mind that someone else will take care of it for you.
Yes, they do provide a value, but that "value" is not "free." Every user of these services pays more than they need to pay by their customers not learning how to accomplish the lessening of debts on their own. People who don't learn how to resolve spending problems on their own, and just hire someone else to help them plan a way out, may be destined to repeat the same events and recreate the same problems.
Radiance learnt something along the line.... we
all can learn if we choose to.