Debt elimination programs

Harry — Mon, 23 Nov 2009 03:04:43 +0000

When I was a kid, I used to cringe every time the phone rang. I was worried that it might be my teacher calling with news of what I’d done in school that day. I knew I could expect a beating from my stern father for virtually any infraction and that he would be merciless, believing that a kid needed to be punished in order to grow up with a sense of responsibility. Now, as an adult, I still cringe when the phone rings. Although I’m no longer worried that Mrs. Jones is on the other end wanting to tell my dad that I got an F on the book report I turned in (hey, I thought a Spider Man comic book was a legitimate book, what can I say?). Instead, I know it’s going to be a debt collector calling to remind me that I owe money to this that or the other bank and to tell me for the umpteenth time that I need to pay up or else. That is, I used to cringe until I found the solution: debt elimination programs.

So what is a debt elimination program anyway? My guess is that we’re not sending a Steven Segal or Arnold Schwarzenegger type to eliminate the creditors I owe money to and frankly, while I’d love my credit card debt to disappear, It’s probably not going to happen. Instead, what places like this do is to create a program to eliminate credit card debt. Or they can eliminate car loans, or college loans or whatever you need to get rid of. The way they do is by negotiating with your creditors on your behalf. And just to be clear, we’re not talking about negotiations Bruce Willis style, at the point of a gun. These nice people will call your debtors on your behalf and explain your situation and try to make a deal for you.

Now in all seriousness, that last term is super important. “Try.” If a company claims they can craft a credit card debt elimination program for you and it is 100% guaranteed, walk away, they’re scamming you. Equally, if they ask for money up front, make sure they provide a money back guarantee if they can’t help you. Get it in writing.

The reason I say all this is because you want to deal with a reputable company. Sometimes, in spite of their best efforts, your debt elimination program will simply not pan out because the company can’t get the credit card companies to agree to help out. Sometimes the credit card companies insist they will only talk to you. And sometimes, your only way to eliminate your credit card and other debt is through the bankruptcy courts. All this should be discussed and the company you work with should make it clear they cannot guarantee results and that they will refund your money if they do nothing at all. After-all, if you had money to waste, you wouldn’t be looking for a debt elimination program to begin with, right?

Debt Relief Methods » debt elimination

Debt elimination programs