Does anybody know the name of the guy doing the Credit Associates commercial? This con artist announced anybody with over $5000 in credit card debt can settle that debt by paying ONLY a very small fraction of the five K.
This is for people who are in over their head due to their financial irresponsibility or cannot afford to continue paying astronomically high monthly payments.
What the wannabe movie star pitch man did not tell credit card abusers is that they would probably have to declare bankruptcy to turn $7000 in debt into low monthly payments. Did you notice that the smarmy, insincere middle aged male did NOT mention the fees charged by CreditAssociates?
Remember, their promise to virtually eliminate your debt comes at a high cost along with the shame and embarrassment of declaring bankruptcy. So it is not just bad for them(credit card companies), it really SUCKS for you! The negative effect of bankruptcy lingers on for years. Don’t trust these kind of to good to be true solutions to your financial misery.