I am considering using a dept reduction company to reduce the principal of my credit cards. They claim that the credit card companies fair out well by negotiating lower low balances and getting those balances paid off right away. I know this hurts ones credit but after a few years and having a better debt to income ratio that my credit will improve.
Has anyone used such companies and what were your results.
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Wed, Nov 4, 2009
November 4th, 2009 at 9:03 pm
a lot of those companies are scams
you can probably do as well yourself, by directly working with the companies yourself
November 4th, 2009 at 9:03 pm
dont
November 4th, 2009 at 9:03 pm
They never work and charge there fee up front, they are scams.