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Free Debt Consolidation-True or False?
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Free
debt consolidation services are advertised all over the Internet, but
are these services really free? After doing a little research for
myself, I soon found out that all the one’s I followed up on were
not free, and at minimum had some kind of set-up or monthly account fee
associated with their services. This also goes for the non-profit
organizations. I know, when you see the term non-profit, you
almost automatically think FREE, but that’s not the case.
Most of the organizations I viewed offered a free consultation or
financial analysis. That’s about as free as it got.
And of course, that’s mainly to get your information so they can
follow up with you, and try to sell you on their services.
There’s nothing wrong with that per say, in business it’s
called lead generation, but it’s not free debt consolidation.
So, does free debt consolidation really exist? Well, not in the
sense that you can take out a totally free debt consolidation
loan. I don’t know of any banks or financial institutes
that will make you a loan for free. They usually want their money
back within a certain amount of time with interest. The closest
thing to a free debt consolidation loan might come from someone in your
family or a close friend. That in itself, can become very awkward
if you find it difficult to pay the debt back.
The next closest
thing to free debt consolidation that I came across were the companies
and organizations that were debt consolidation non profit type.
Credit card companies subsidize most of these types of debt
consolidation service providers. They in turn charge a minimal
flat fee, or will charge you on a sliding scale depending on what you
can afford to pay after they determine how much debt you owe.
If
you find yourself in need of consolidating your debt, be sure to shop
around when it comes to finding a legitimate debt consolidation
service. There are plenty of scammers out there that will be glad
to take advantage of you if your not careful - this is especially true
of the Internet. Whenever you see the words FREE associated with
any kind of website, you should proceed with caution.
It’s
rare that anything is entirely free; at the least it will cost you your
email address. When you locate a company or organization that you
think you want to work with, be sure to check them out with the Better
Business Bureau. Find out if they have any complaints registered
against them before you proceed. Make sure you do this before you
sign anything, and especially, before you give them any money.
The good thing is, there are plenty of free informational resources
available on the topic of debt consolidation. If you have the
time, you can find out all you would ever need to know on the
subject. This website is a perfect example of free debt consolidation information.
If you would like specific information on what debt consolidation is, please follow these links: debt consolidation, consolidate consolidation debt, credit card debt consolidation service.
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