Most debt management plans or negotiated debt settlements aren’t designed to help you get out of debt. They are designed to extract as much money out of you as possible until you are no longer able to pay, and if you happen to get out of debt you will have paid out several times the value of your initial principle in fees, installment payments, and interest.
Topics: Get Out Of Debt
Most debt relief solutions are simply ways to extract more money from debtors (in smaller payments over a longer period of time with more interest and fees), and it’s time for a real fix that will work for everyday people, not for corporations. America has a serious debt problem that, for many, has grown beyond the help that loan consolidation, traditional debt settlement programs, and personal finance help can fix.
America has a problem with debt. Whether it be mortgage debt, student loan debt, credit card debt, subprime auto loans, predatory payday loans, or any other number of debt sources, everyday people are falling into a financial hole and are unable to get out. We live in a country that seems built to funnel middle- and working-class Americans into a cycle of never-ending debt payments, and then sell them debt management and/or debt settlement solutions designed to extract as much money from them as possible before they collapse.
How big is the problem? Consider that: