debt consolidation
Tuesday, July 15, 2008
Want to Improve Your Credit? Don't Fall for False Promises
Consumer credit-card debt has more than tripled in the last two decades."Enter the self-described consolidators, who are created by the lenders to deal with die-hard deadbeats. They pull together all the debtors' assets and make up a schedule of repayment. The debtors then pay one pretty big check every month to the consolidator instead of many relatively small checks to the individual creditors. For this, the debtors may pay a fee of 10 percent of their total debt."
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