Abrah Cadabrah - your Debt is Gone

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Abrah Cadabrah - your Debt is Gone

In these difficult economic times many new debt relief companies have been born offering a magician like solution to your debt problems. Abrah - Cadabrah - your debt is gone is not the answer. While debt management may be the answer, it is important that you the consumer do your homework when choosing a debt management company. Remember the old adage "if it is too good to be true, it is probably too good to be true."
There is no easy way out of uncontrolled debt, before spending more money on a magic solution try meeting with a credit counselor first. Maybe something can be worked out with you contacting your creditors directly. Work out a plan with your credit counselor, develop a budget and get to work controlling that debt.
If you do decide to work with a debt settlement be careful, many charge exorbanent fees to negotiate with your creditors only to find out that your creditors refuse to negotiate with debt settlement companies. Many of these companies will advise you to stop paying your debts, that can be very dangerous and expensive depending on how your particular creditors react. This could cause more trouble in the long run.

Before making any decisions get information regarding debt management here.


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Dagny Eason
Dagny's Real Estate - Wilton, CT
Fairfield County CT, CDPE Homes For Sale and Condo

Good for you, Gerry!  I couldn't agree more - just start by changing your bad habits, and get advice on the best way to get a grip on the debt.

May 05, 2010 02:04 AM #1
Sharon Tara
Sharon Tara Transformations - Portsmouth, NH
New Hampshire Home Stager

I think the important thing to remember is your line "This could cause more trouble in the long run."

May 05, 2010 05:44 AM #2
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Gerry Michaels

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