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Posted in Paying Your Bills
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17Princess

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what do you think of debt relief companies?

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Top Contributor
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Well...

In my opinion  they're both good and bad. 
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The reputable ones are good because it stops the interest rates piling up.

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They're all bad because they get their money out of those payments, and odds are good that aside from the interest, you will still be paying off the full principal you owe (and then some!) over the next 3-5 years. Let's just say that in most cases, those "we have secrets that the credit card companies don't want you to know!" commercials are basically crap, and you're not really saving anything beyond the interest pile-up.

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The upshot? If you can find a different means of consolidating your debt without overloading yourself? Do that first.

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