The FTC has prosecuted more than a dozen companies that claimed to offer debt relief but lied about the cost or nature of their services. One of its biggest cases involved AmeriDebt, Inc and DebtWorks, Inc., a company that claimed to be a non-profit credit counseling organization. On the eve of the trial, AmeriDebt’s founder agreed to settle the case for $35 million. There were 11 credit counseling agencies serviced by DebtWorks between January 31, 1998 and October 7, 2004. The agencies were AmeriDebt, Inc., Debticated Consumer Counseling, Inc., A Better Way Credit Counseling, Inc., Credicure, Inc., Mason Credit Counseling, Inc., Nexum Credit Counseling, Inc., Neway, Inc., The Credit Network, Inc., Visual Credit Counseling, Inc., Preactive, Inc., and Debtscape, Inc.
I know we all wish for someone to wave a magic wand and get us out of debt but, if you didn’t get into debt overnight, you are not going to get our overnight. Don’t fall for the debt relief scams!
00:19, 22.04.2010
Coming from an unbelieving poor family were we did not have very much, the only time my parents went into debt was to buy luxuaries that we really could have done without. I do not see renting as dead money as it is giving you somewhere to live. We are now debt free other than the love we owe others and of course the debt we owe Jesus Christ. Only the mercy of God has allowed us to do this.
09:54, 24.04.2010
Really useful post, thanks a lot. Nice blog as well! I might start my own blog shortly, do you have any advice? Whats the best host to use, Wordpress or Blog engine? Olin Ventry