15% Credit Card Debt Settlement Trap

Andrew had it HARD-TIMES financially. As Shift Worker in the Michigan Auto Industry, Andrew was making around $60,000 per year with great benefits. Until Andrew was laid-off told me that he was one of those people who proudly sang, "I owe, I owe, so off it work I go..." He knew he owed his debt and was determined not to be a dead-beat.

One day while driving to a Job interview, Andrew heard a radio Ad, asking if he was "over $10,000 in Credit Card Debt". Man was he ever. So he called the 1-800 Number to speak to a Debt Counselor. At first he was sold. All Andrew he had to do was pay 15% of his total debt and the the company would take care of the rest and settle his debt for him.

15% of $35,000 = $5,250. I was brutally honest with Andrew. I told him he was asleep at the wheel. Since Andrew had over $35,000 in Credit Card Debt, the down payment alone for the program would equal $5,250.

What's worse is that none of his Creditors would be contacted until after he'd paid his down payment. Plus, there were no guarantees, and the contract stated that "the company could not be held liable for any of the negative outcomes or for any negligence, or errors on the companies part".

"It doesn't make any sense to go into Debt, to get out of debt". I tell everyone I speak to the same thing. Why pay someone else thousands of dollars to do something that you can do for yourself? With the proper training you can settle your Debt (for yourself) in a safe, legal and responsible way. That's why DEBT WARRIORS are here. We'll teach you to settle your debt for yourself.

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DEBT WARRIORS™ are not Attorneys. The information on this blog, should not be considered legal advice. If you need to speak with an Attorney click here:
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