Monster10 presents... Top 10 Reasons Debt Settlements Are A Scam!

 
 

Top 10 Reasons Debt Settlements Are A Scam!

 
 

Top 10 Reasons Debt Settlements Are A Scam!

               

A Monster 10 Special Report!

Are you thinking about getting a debt settlement?  Are you wowed by the commercials stating how much you will save?  Well you may want to think again after reading this report! 

                       

 

 

10- Red Flag To Bank Lenders!

       “People who opt for settlements show lenders that you took the easy road out and if you have enough settlements on your credit report it gives the lender this is a particular pattern and that you will probably default on the loan they give you..…………..!

 

 

 

 9- Rules Are Made For The Bankers!

       “Debt settlements are based on the impression that the creditor aka the bank will accept and as we seen in the 2008 crisis the rules are made for the bankers. ...…………....…..!

 

 

 

8- No Guaranty!

       “Despite the impressive PR campaign Debt Settlement companies advertise there is no guaranty that any lending institution will accept what the Debt Settlement is proposing....………….. ..…..!

 

 

 

 

7- A lot Of Credit Cards Don’t Accept The Proposal!

Debt Settlement companies do not disclose that a majority of the credit card companies don’t accept the proposals since its way less than the balance owed ....... ....……..!

 

 

 

6- Bankruptcy Is A Better Option Than Debt Settlement!

     “ Debt Settlement does not totally absolve debt since many of the proposals are not accepted by the creditors they are then sold and then resold.  Bankruptcy becomes a better option since it at least relinquishes the debt responsibility........…..!

 

 

 

5- Consolidation Is The Best Option Instead Of Debt Settlement !

      “Before considering a debt settlement the better option would be a debt consolidation where you will have one payment and paying back 100% of the debt.  This is more likely to get accepted by creditors and works well for your credit report in the long run.…………. ..…..!

 

 

 

4- Does Not Come Off Your Credit Report!

    “Many individuals are conned in to believing this will drop off your credit report by doing a settlement nothing is farther from the truth.  Debt settlements stay on your credit report like any other debt for 7 years....………….. ..…..!

 

 

 

3- Ruins Your Credit!

     “Debt settlements do not show kindly on your credit report in fact they ruin your score and if you are going to purchase something in the near future it shows as a red flag to a creditor when it comes to loaning you money .” …………..!

 

 

2- They Charge High Fees!

       “The debt settlements game is to try to force the creditors to take less in which there is no guarantee and you pay an exuberant amount of money in fess to do something you could do on your own.  If you are not going to pay and then see if they will settle for a substantial amount less than just don’t pay and negotiate with the creditor on your own......………..!.

 

 

And The Number 1 Reason Why Debt Settlement Companies Are A Scam Is …………..

 

 

Monster Growl Please…………………………….

 

 

1-    1-Tax Consequences!

       “DING DING DING!!! In the offset chance a debt settlement company could actually get a creditor to take less what they fail to tell you is that any amount forgiven will result in a tax penalty.  Essentially any amount forgiven will have to be added as earned income to your tax return that year  …………..!

GRRROOOOOOAAAAAR

   
 



 

   
 
   
 
   
 
   
 
   
 
   
 
   
 
   
 
   
 
   
 
   
 
   
 
   
 
   
 
   
 
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