Debt Help Services

Question: Who is the best option for debt consolidation?

I have a friend with I believe just over $80K in business/personal (his personal cards are used for business) credit card debt and looking for a solution to help lower the monthly strain on the business. What would be the best solution in this case? He’s already looked at some debt consoliation comapnies and feels as though he has no way of knowing for sure if they would work for him. Is this a situation where something other than debt consolidation would be better?

He’s looked into the following debt consoliation companies:

http://www.commercialdebtcounseling.com/

http://www.active-debt.com/

http://www.amerassist.com/

Appreciate any advice that can be offered. Thank you.

Answer: Most if not all of these so called "debt consolidation companies are a scam.

What they do is not pay your creditors for months and then try and settle with them for less. No special skills. They just don't pay.
They also charge a fee everymonth to do this.

Your creditors do not have to talk with these people. It's your debt.
Also, if they don't pay your creditors. You, and you alone are still responsible for the debt. Your creditors will sue you and not the company you hired.

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