Comments on: How do credit counseling / debt relief services make money? http://counselingdebtreduction.com/how-do-credit-counseling-debt-relief-services-make-money.html Debt Counseling Guide Sun, 01 Jan 2012 20:18:18 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Teri http://counselingdebtreduction.com/how-do-credit-counseling-debt-relief-services-make-money.html/comment-page-1#comment-60 Teri Fri, 18 Sep 2009 12:15:49 +0000 http://counselingdebtreduction.com/how-do-credit-counseling-debt-relief-services-make-money.html#comment-60 Most of them charge a monthly fee. I don't think that they are worth it at all and people could use that monthly fee to send it to their credit card companies themselves. Most of them charge a monthly fee. I don’t think that they are worth it at all and people could use that monthly fee to send it to their credit card companies themselves.

]]> By: PFS rep http://counselingdebtreduction.com/how-do-credit-counseling-debt-relief-services-make-money.html/comment-page-1#comment-59 PFS rep Wed, 16 Sep 2009 01:33:11 +0000 http://counselingdebtreduction.com/how-do-credit-counseling-debt-relief-services-make-money.html#comment-59 Usually they are paid by the creditors and debtors both. The creditors are happy to pay a fee to someone who will get their money for them rather than take a loss. The debtors are happy to reduce payments and get a structured program to repay several debts into one managable payment. Everyone is happy with the arrangement. The relief companies are acting a middle men, getting profit they create themselves. The key with this is that anyone can negotiate with creditors. They can do it themselves and avoid the fees, whether hidden or known. If they do this then they can apply the 'fee' money to the payments and possibly end up ahead of the game. Good luck Usually they are paid by the creditors and debtors both. The creditors are happy to pay a fee to someone who will get their money for them rather than take a loss. The debtors are happy to reduce payments and get a structured program to repay several debts into one managable payment.

Everyone is happy with the arrangement. The relief companies are acting a middle men, getting profit they create themselves.

The key with this is that anyone can negotiate with creditors. They can do it themselves and avoid the fees, whether hidden or known. If they do this then they can apply the ‘fee’ money to the payments and possibly end up ahead of the game.

Good luck

]]> By: Harold S http://counselingdebtreduction.com/how-do-credit-counseling-debt-relief-services-make-money.html/comment-page-1#comment-58 Harold S Sun, 13 Sep 2009 06:06:48 +0000 http://counselingdebtreduction.com/how-do-credit-counseling-debt-relief-services-make-money.html#comment-58 There are two ways for them to make money. One is that they charge you a service fee which is included in your payment. second is a rebate from the credit card companies based on their collections of money from you. There are two ways for them to make money. One is that they charge you a service fee which is included in your payment.
second is a rebate from the credit card companies based on their collections of money from you.

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