Can anyone tell me how debt relief/credit counselors work? What it does to your credit?

Question by : Can anyone tell me how debt relief/credit counselors work? What it does to your credit?
Do they really reduce your monthly payments?


Best answer:
Answer by JessicaSome of the programs work by accepting your normal debt payments and holding on to them for a while and NOT paying your creditors. At some point your debts will be charged off and the company will try to negotiate lump sum payments for less than the amount of the debt which they will pay with the money they have

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