Dangers of Debt Settlement Companies

Jul 18, 2014 by

Dangers of Debt Settlement Companies

People who are unable to pay their bills timely usually try everything possible to avoid filing bankruptcy. Debt settlement or debt management plans sound like a good idea – alternatives to bankruptcy. Unfortunately, these plans are not as good as they sound and they are very expensive. Often the person is sued and wages are garnished, despite having made the payments required by the debt settlement plan. We have filed Chapter 7 and Chapter 13 cases for many people who have had this disastrous experience. This article summarizes the report released recently by The Center for Responsible Lending, and is well worth reading.

Read more at nytimes.com