Here's how debt relief companiies usually work. They’ll offer you a low interest loan, but here’s the catch: pretty much everyone who calls gets turned down.
Then they’ll say something like, “I talked to my manager, and we’ve got another option for you.” Every single company does this.
Next, they’ll tell you to stop making payments on all your debts for six months. Your credit score will drop by about 130 points.
After six months, they’ll buy out your debt, and you’ll pay them back at the low interest rate they promised.
But here’s the truth: there’s no such thing as a debt relief company. They’re all running the same scam.
