Information about settlement companies

What Debt Settlements Companies Don’t Want You To Know! Like most people you’ve probably heard an advertisement that promises to settle your debt for “Pennies on the dollar”. Although this may sound like a great deal, don’t be fooled. These companies “negotiate” with your creditors by withholding payments in an effort to force the creditor into a settlement. While the “negotiation” is taking place, the damage to your financial future is well underway. Here are just some of the adverse effects to you as a consumer. • Tax liability for the canceled portion of the debt • Credit report damage due to late payments and settlement action • Additional fees due to late payments causing your balance to increase quickly • Collection activity by Lender, Collection Agency or by an Attorney while settlements are being “negotiated” • Potential Judgments and/or wage garnishment Just like the old saying goes… If it sounds too good to be true, it probably is. If financial strain is affecting you or someone you know, seek the advice of an approved Credit Counseling agency like CCCS of Rochester. Our certified credit counselors will provide you with a free no obligation credit counseling session and budget review. Your counselor will help you determine the best course of action for you and your family. Help is just a phone call away.