InSaners Choice

This is because with this sort of program you will still be paying back what you owe plus some of the interest for around 4 to 7 years. Almost half of the debtors that are in debt settlement credit counseling don’t finish the program for missing as much as one payment. Another downfall to credit counseling is that if you have a cash flow problem and are cannot make your monthly payment they will boot you off of the program without delay.

Another downfall to debt settlement is that if you have a cash flow problem and are short on your monthly payment they will boot you out of the program without delay. They will also raise your interest back up and the creditor will not let you back on for at least one year and on some occasions even longer. This will put you right back to where you began, if not in a worse predicament.