what are the disadvantages to using a debt management company?

I have credit card debt that I am considering using a Debt Management Company. Any thoughts?

3 Responses to “what are the disadvantages to using a debt management company?”

  • Viv':

    some of them charge fees to reconcile debts. You should services like Consumer Credit Credit in your area. This is a free, state and federally funded organization that will work with you and make a budget for you, but most importantly it’s FREE.

  • paradiseagain07:

    consult w a fee based financial advisor first… they are cheaper. otherwise, go to your local book store, and go to the financial/business section and look for books regarding managing debt…

  • fountain1751:

    ok people need to realize that if you or someone else negotiates a lower sum to pay ona acredit card to pay it off you are taxed on the money you dont pay as income. i know this from expierence 10 yrs ago

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