Debt Relief Company. This article will tell you

Similar to typical Consumer Credit Counseling Services, debt relief companies offer advice of your credit card debt and your income, and plan your payment schedule that suite to you. They also negotiate with your credit card company for lower interest rates and minimum payments. Some of them call you the fees which they called ‘Donation’.

As with a Credit Counseling Services payment plan, you make one payment a month to the debt-relief corporation. One method some debt counseling services use to collect “donations’ is to keep the first month’s payment as a fee. So, your first payment is swallowed whole by the company, and you missed your first month’s payment on your new plan. Also, when you make your second payment, the debt-relief agency may not forward your money on to your credit card company for tip to 90 days. What happens in the time? Your creditors are harassing you at an ever-increasing pace and your credit, if it wasn’t in good shape before, is now completely trashed.