Montana Worried About Debt Settlement
The Montana Attorney General Steve Bullock has put out a warning
to their residents to be careful when dealing with debt
settlement companies. They are investigating quite a few
complaints lately from consumers that have used these debt
settlement companies and have found themselves more in debt than
when they started. They usually ask for an up front fee and then
tell them that they are to send them money each month to pay off
the debt. However, many times these companies are not actually
doing anything with the debt; instead they are taking the money
and running when the client starts getting suspicious.
Bullock says that he has seen numerous cases where instead of
getting a debt settlement instead they are ending up in the
bankruptcy courts, sometimes out thousands and thousands of
dollars in the process. He says that any company that says that
they are charging you a fee for working with your credit card
companies is not necessarily doing you a good turn.
He says that quite often you can do this work yourself and save
yourself the hassle of dealing with the companies and paying
them money. There are also companies out there that do this kind
of thing for free so you shouldn’t be paying any one anything.
He says that quite often these debt settlement companies are
only dealing with the collection agencies that are now holding
the debt and not the actual creditor. This means that you are
still being inundated with calls because nothing is getting
accomplished.
He urges those that are looking to a debt settlement company to
look into debt consolidation first and see if that might help
you with your issue. They say that the amount of money that is
being wasted on these companies is criminal and that they are
investigating those that have tried to get away with it in their
state and when they are able to charges will be filed against
them.
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