Houston Credit Repair Expert Vanessa Perry Explains the dangers of debt consolidation in the latest Ask Impeccable episode below.
What is Debt Consolidation?
Debt consolidation also known as CCCS. It is when a someone pays a debt consolidation company to settle your outstanding debt. The companies will put you on a payment plan and collect their fee first. Many times when people are enrolled in these programs they stop paying their regular bills. While enrolled the company collects their payments first, and settles after, leaving your current debts unpaid. Your unpaid debt will go into collections. The best thing to do is to stay away from debt consolidation at all costs.
Why Should I Not Use Debt Consolidation?
During Debt Consolidation your credit will more than likely take a major hit. Another issue is settling some debts may re-aged during the process. Overall, Debt Consolidation may sound nice on the surface but can cause more harm than good. Credit repair can fix or assist with a lot of these problems. If you have used a debt consolidation company or are seeking assistance with similar issues contact a credit repair company.
Houston Credit Repair
Impeccable Credit Services has been in business for 18 years. Not only are they credit experts, but they educate their clients on how to build their credit. Our clients are able to physically make appointments in one of our two offices or virtually. We are able to service individuals in all 50 states. Credit is one of the most important aspects of life and we make your credit our priority. Our motto is Repairing Credit, Changing Lives. If you have any questions regarding your credit please feel free to contact us 713-378-1500.
