Alabama Sees Trouble
According to the recent numbers from the Federal Reserve,
Americans are holding more than $2.6 trillion in consumer
debt. This in itself is a bad idea, but then you couple it
with a failing economy and you have a recipe for disaster,
which is exactly what has been happening. People are unable
to pay their bills and the amount of debt has been
unbearable.
But as with anything, there are then those that are seeking
to take advantage of those that might not know what else to
do. Many people are seeking debt consolidation and
management assistance and are being taken advantage of by
those that are less than reputable. With the economic
problems, debt consolidation companies have been popping up
everywhere and taking advantage of those that don’t know any
better.
Liz Bilich with the Better Business Bureau of North Alabama
is now trying to warn people against these debt
consolidation companies that are up to no good. The biggest
problem is with those debt consolidation companies that have
set up payment plans for their clients, but they have their
clients pay them and they promise to send the money on for
them. This is where the problem comes to a head.
The debt consolidation companies are not sending on the
money and are pocketing it instead. It is now being seen all
around the country where people sign up with a debt
consolidation agency and they promise to get them debt free,
but then they take their money and run. Before you give
anyone your money, first make sure that they are a member of
the BBB, and that they have a favorable rating.
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