Consumer Credit Counseling
The main problem with Consumer Credit Counseling agencies is that they are secretly working for your creditors! In fact these companies do absolutely nothing to reduce the principle balance of what you owe. Mathematically you will end up paying about two to three times the amount of money to pay off your debts in credit counseling that in Liberty Debt Relief's "Debt Reduction Program". Most consumer credit counseling agencies claim to be non-profit and disguise themselves as independent firms. But in fact, these "non-profit" organizations are funded and supported by the very same people you owe money to; the credit card companies. This is why consumer credit counseling companies do not negotiate your debts down. Their primary objective is to keep you sending in your credit card payments each month. Ultimately they want to force consumers to pay as much money as possible to their creditors. In addition to being cleverly disguised collection agencies, your participation in any consumer credit counseling program may show up on your credit report which most lending institutions view as the equivalent of an open Chapter 13 bankruptcy. Sure, they may help lower your interest rate by a couple of points, or eliminate a late payment or two, but the credit card companies are more than happy to be this accommodating when they know you are going to keep sending in payments on debt that Liberty Debt Relief could have negotiated away for pennies on the dollar.
Also, since you will be paying back 100% of your debt plus interest charges (even after they are reduced by consumer credit counseling), you could be enrolled in a consumer credit counseling program for anywhere between 5 and 7 years! Compare that to 2 to 3 years in our program. With Liberty Debt Relief's "Debt Reduction Program" you can be out of debt in less than half the time of consumer credit counseling and for about 30-50% of what you'd be paying toward a Credit Counseling debt management program. Our goal is to get you out of debt in the shortest time possible with the least amount of payments.
Many consumer credit counseling companies have also faced scrutiny for misusing their "non-profit" tax status and not providing the counseling and consumer education, as required. Recently, state Attorney Generals along with the Federal Trade Commission have sued some of the largest consumer credit counseling institutions due to misappropriation of consumer funds and deceptive advertising practices. At Liberty Debt Relief we receive no payment from your creditors and work 100% for you, our client.
|
