Get Your Debt Written off??

For the past couple of years, I have seen a lot of companies advertising that they can get debts written off!!

These companies charge a fairly hefty upfront fee, some also will charge a backend fee if the case is successful!

I have been in the debt industry for a number of years now, to date I have not seen a single debt that has been written off by these companies!

I have to ask, if these companies can get debts written off, why not just charge a backend fee?

I have often placed posts on other websites, for anyone who has had their debts written off to contact me. So far my mailbox has been empty regarding that subject.

DO NOT part with your money in the hope that your debts will be written off.

Mind you, if it has worked for you then please leave me a comment and tell us all about it.


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Comments

Get Your Debt Written off?? — 2 Comments

  1. Using these firms can be a very expensive option.

    They typically take TWO of your monthly debt reduction payments (calculated by them) as a “start up fee” before they do any work apart from telling your creditors that they will be “acting” on your behalf.

    Then they take a “management fee” of around 10% of your monthly debt reduction payments for the time they are “helping” you.

    Nice work if you can get it!

  2. Stuart, you are commenting about a debt management company, what johnnydebt is talking about is a firm charging someone to ‘write off’ their debts, something completely different.

    Johnnydebt, good short article that gets to the point, well said.

    Best wishes,

    Mike

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