What are the debt relief companies called that give you a loan called?
Question:
Answer:
Debt consolidators. There are a lot out there. All you have to do is search on "debt consolidation". Before you do, know that many are not much more than loan sharks. Some say that they are non-profit, some say they don't charge, there are a lot of advertising. Check with the better business bureau
www.americanfinancialservice.o...
www.debtconsolidationcare.com
www.debt-settlement-america.co...
Felons
They are called Consolidation companies. They will negotiate with your creditors and set up minimum monthly payments. But there will be no reduction in the principal balance and it will also take ages to be debt free. They will also ask for assets as a security in order to join the debt consolidation.
I would suggest you to join a debt settlement company who will negotiate with your creditors and bring down your principal debt by around 30% to 70% depending on your credit companies. They wiil not give any loans but you can make affordable monthly payments and be out of debt within 3-36 months.
There are no hidden costs and upfront fees associated with the monthly payment options. Once you join the program, they will start negotiating with your creditors within 24 to 48 hours.
For more information check this debt settlement company who has helped me with the unsecured debt situation.
http://www.debtfreeafterall.com...
Good Luck
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