For those of you interested, here's a good article I found of ABCNEWS.com... beware! http://abcnews.go.com/sections/GMA/GoodMorningAmerica/GMA020326Debt_reduction_pitfalls.html
I've been getting spam from companies like that! Unfortunately, my block sender list is full, so I have to go to the trouble of sorting through this stuff!
When I first started doing credit repair, I contacted an organization like this. They told me exactly as the article says. Quit paying your bills, let them get really late, and then we will negotiate something like .50 cents on the dollar or less. I asked, well what will happen to my credit? They said it will have alot of bad marks, but you will be debt-free at a quicker clip. We can get you started for a deposit of $500. That's when I hung up the phone.
