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by Lukester on September 10th, 2008

Lukester

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In todays economy, it is common for those less fortunate to engage the services of a debt management company to work with their credit card companies. Has anyone experienced this and what can you recommend?

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  • by Scrappy on September 10th, 2008

    Scrappy

    I tried to use 1 of them one time and it ended up costing me more in fees then the payments would have been in the first place. Had I paid my bills min. monthly it would have costed me about $400 a month..with debt mang. company, it was to be a payment to them of %525 a month to cover their fees and payment and then the credit cards I used STILL didn't reduce interest rate..plus it still affected my credit. All that does is stop late fees and over limit fees.

    It was better for me to just file bankruptcy (my credit was screwed either way) and not have to pay it and start afresh..and I did and now my credit is good again.

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