Question by Mysti1000: debt consolidation...debt relief or a scam?
I keep seeing these ads where you can consolidate all of your debt into one monthly payment and have your interest rate reduced. But is this the same as a settlement? Does it affect your credit as badly as declaring bankruptcy would?
Best answer:
Answer by WesDebt consolidation is obtaining a new, lower rate loan to pay off all your other debts. This will actually positively effect your credit rating. Debt
Folks think most of the money they owe on their credit cards is principal, but it is really usurious interest compounded by the banksters and added onto the principal. When you negotaiate a credit card debt settlement, all they dois give up the usurious interest, never the principal. COnsumers have to know this because this knowledge gives them the power and the confidence to win their freedom from debt. Why aren't the conservative hypocrites as serious in maintaining a literal scriptural interpretation of laws against usury?
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