Bad Debt Ideas!

Let's talk about some bad debt ideas. I feel like I need to preface my comments here with, "these are just my opinion." I'm sure these companies feel they do a good service, and some of their customers feel the same, so it's only my opinion that these are bad ideas. I'll give justifications for my opinions.

Debt Settlement is vey similar to Debt Negotiation and Debt Forgiveness, there are companies you can call, and they will call all your creditors on your behalf. They will attempt to get the creditor to negotiate what you owe, what percentage rate you pay, when payments are do, penalties and fees, etc.

There are many bad debt ideas. Some more include debt consolidation, consolidation loans, and just plain not paying your bills! Some might call this going broke! If you have other bad debt ideas, drop me a line, I love to hear stories.

Not all debt consolidation is bad. But make sure you look at the plan they propose in detail.

Here is a link to my real life debt consolidation plan.

In this case I would have been far worse off than just waiting out a year. And actually looking around a bit I found a better deal that was a refinance, not really a debt consolidation loan. But in any case, if you look around you'll find loans that will benefit you, and without looking the loans that won't benefit you will find you.

If you want to learn about good ideas, and ways to get out of debt, check out my 7 step plan by visiting My Debt Management Plan Home!

Or some suggested reading can be found in my Amazon.com Finance Store.

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