This morning on the CBS Early Show Vera Gibbons and Harry Smith discussed the dangers of debt settlement companies.
If you're struggling with debt, you may have looked into or even been contacted by one of these companies. CBS concludes what we know about these companies: They don't offer real debt relief.
In fact, these companies rarely provide real debt solutions. And, as CBS reports, with $1 trillion in revolving debt in the United States right now, many people need real debt relief.
So we want you to watch this report, and remind you that the actions and relief that come out of bankruptcy are protected by the U.S. law.
While credit settlement companies aren't regulated, bankruptcy is overseen by courts, judges, lawyer and legislators. This means that when you file bankruptcy, you receive protection that private companies can't offer. In fact, you may be able to file charges against a creditor if they try to collect debts that were resolved by bankruptcy.
But before you make a decision on bankruptcy or any other debt relief option, be sure to get information and answers to all of your questions.
Tags: bankruptcy, debt relief, debt settlement
This entry was posted on Tuesday, May 12th, 2009 at 10:00 am and is filed under The Truth about Bankruptcy. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.
this is a total one side comment… debt settlement is very legit if you use the correct co… check the BBB.ORG i have been help by a co called lifeguard financial who did do everything they say. Check into the debt settlement co with the BBB…… this lady should not be discouraging people from doing this, the right co will get it done.