Finance Question- Helping Relatives

Budget101 Discussion List Archives General Budget & Finance Finance Question- Helping Relatives

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    • #235126
      Liss

      As long as you had it is writing Susan. Companies whom you owe are not
      obligated, nor do they profit by having a debt consolidation company
      renegotiate your debt, yes, they will happily take whatever they can get
      before you completely screw them by filing bankruptcy, but don’t think
      for a minute that they will not report that on your credit record. In
      most cases it is treated *exactly* like you had filed bankruptcy (as you
      did not meet your contractual obligations, and there *was* a financial
      loose to the lender).

      I understand that you have your anecdotal evidence to support your side,
      but the lending industries position is well known on this matter.

      In the end, TANSTASFL (there ain’t no such thing as a free lunch).

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Budget101 Discussion List Archives General Budget & Finance Finance Question- Helping Relatives