The overwhelming debt consolidation commercials

**Palooka** · 02-04-2010, 02:03 AM

Has anyone noticed way more? I know the start of the new year you will always hear certain things like diets/gyms, but I hear so many companies on so many radio stations and tv commercials. So many channels. (geez I had no idea how many consolidations companies where out there and each of them can be the most trusted.)

There was a catchy one the other day when I pulled into the garage. It was a bill collector calling this lady and he was acting so nice because she said she couldn't afford to pay them. The bill collector told her nicely under the table about a great consolidation agency that could help her! Yeah right. heh. Like that would be a reality of that persons job.

<< just a late night drive by random post.

**Josephhgoins** · 02-04-2010, 10:56 AM

back when I was young and stupid with more (more so than now) I got into some pretty heft Credit Card debt. I got some help from a Debt Management company which is different than a Debt Consolidation company. Usually the Management companies work with the credit cards to reduce your rates and eliminate late charges and overdraft charges. The consolidation companies just give you a new loan at a high rate and one low monthly payment for the next 100 or so years.

The Management company was really helpful for me. With them I was able to pay off the cards and learn what they should really be used for (nothing).

I actually found the company I used thanks to a recommendation from a credit card that I had.

Against my suggestions Mom tried a debt consilidation company early last year. They charged her $600 for it and she got nothing. Lucky for her it was my $600.

**NikoSan999** · 02-09-2010, 09:43 AM

If you're far enough behind they will most all work with you on your/their own anyway. BUT they still think they should get paid BEFORE the house payment. American Express's collections told me this when I said if it comes down to the house or you THEY win. They said hubby had a commitment. Ask me if I give a rats a$$ at this point. Exactly what I told them to. And they didn't get paid either. Probably not this one either seeing as how the house payment isn't made yet.

**Contrary Housewife** · 02-09-2010, 10:51 AM

Hey, at least it's not all the sleazy home mortgage people on the radio any more!

Actually, it probably is the same people, just a new scam.

**NikoSan999** · 02-09-2010, 11:48 AM

Originally Posted by Contrary Housewife

Hey, at least it's not all the sleazy home mortgage people on the radio any more!

Actually, it probably is the same people, just a new scam.

Exactly, I never paid any attention until you said this but there isn't as many home mortgage commercials on anymore. Hmm..gee wonder why....

**Josephhgoins** · 02-09-2010, 12:09 PM

you know now that you mention it, I haven't seen any of those in a long time either. I would hate to think that Ditech went under.

Sleeze bags!!

BF just got a new mortgage with an awesome interest rate. You should have seen the look on his face when I told him and then showed him that even with the great rate that if he uses the entire 30 years to pay for his house, he will have paid for it twice.

Great Wake up call for me, I was already to give in and get a mortgage this summer. I believe I'll just wait until I can pay cash.