Here’s what most people don’t realize about debt consolidation programs: When you agree to pay, say, $500 a month, that money isn’t going straight to your creditors. Instead, it sits in an escrow or reserve account while the company tries to negotiate with your lenders. Only after they reach a deal do they start making payments on your behalf. The problem? While they’re negotiating, your accounts stay delinquent, late fees pile up, and your credit can take a serious hit. And if the negotiations
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Here’s what most people don’t realize about debt consolidation programs: When you agree to pay, say, $500 a month, that money isn’t going straight to your creditors.
Alia Khan | BankruptcyLawyer(@thebankruptcyqueen_). original sound - Alia Khan | BankruptcyLawyer. Here’s what most people don’t realize about debt consolidation programs: When you agree to pay, say, $500 a month, that money isn’t going straight to your creditors. Instead, it sits in an escrow or reserve account while the company tries to ...
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