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Debt consolidation

By Terry Savage on January 29, 2023 | Credit/Debt

Hello! I am considering going with a debt consolidation company, freedom debt relief, opposed to filing for bankruptcy or taking any other methods that I can’t afford to settle a large amount of debt I have on credit cards. Is this a good company to work with? I want to get out of this huge amount of debt sooner than later, and I can’t currently afford the payments anymore versus consolidating them into something more affordable monthly.

Terry Says

First, please call 800-388-2227 to be connected to the National Foundation for Credit Counseling. That will connect you to the nearest local office, and you can trust their advice.
In general, these for-profit debt relief companies advise you to stop paying anything and “set aside money so they can negotiate on your behalf”. That further ruins your credit, and might result in a wage garnishment.
So, while that route seems tempting, it could lead to worse trouble.



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