when will people realize debt management companies are worse than collection agencies?

it strikes me as odd that people think these companies actually help them…you as a consumer can do anything that debt management companies can do on your own.. As a collector, I understand that bad things happen to good people and they cannot get out from under debt..what a lot of people don’t realize is that turning to a debt management company can hurt you even more…by stop making payments on your accounts and let them handle the account is not the way to go…if you are only 30 days behind and they tell you to stop paying because they want to wait until you’ve saved up enough to settle, this is damaging to your credit because the acct has probably charged off by the time you settle….yeah you may pay less but, you can negotiate with creditors yourself and most of the time prevent the charge off..and not pay a fee…remember, no such thing as not for profit..always someone trying to make a buck!!!

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