If anyone is even remotely thinking of working with a Debt Settlement Company you need to read this article right away. This post is beautifully written by an ex-employee of one of these companies. He goes in-depth about all the deception that takes place. Best of all, he gets into the contracts and sales pitches they use and rips them apart. I will be sharing this with all my co-workers tomorrow.

Read here: Confessions Of A Debt Settlement Company Worker

One of the comments on the post that struck me the most regarding the credit card companies:

“I assure you the companies charging them 25% Interest, $50 Late Fees, $50 Over Limit Fees, $100 Annual Fees, and calling them 7 days a week 5 times a day are NOT working in their best interest.”

Debt, Debt Reduction, Bankruptcy, Debt Collectors

The TRUTH is the author is right the credit card companies are not looking out for your best interest. I honestly believe there needs to be a lot of reform regarding the credit-giving process in general. However, you should not make a bad situation worse by hiring the services of these companies or signing one of their ridiculous contracts.  It is my honest opinion that the education and experience of getting out of deep debt on your own could possibly make you a lot of money someday. What do you think?  

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