Suze Orman was wondering if you have you ever wondered why people continue to use credit cards even after letting them bury you in high rate interest? In this video Suze seems to be backing CCC (consumer credit counseling over debt settlement because the debt negotiation firms usually trash their credit. First of all Suze, as an experienced mortgage broker I have seen hundrerds of borrowers with credit that was significatntly impaired from consumer credit counseling, because with their programs the consumer stardts paying the creditors less than agreed. Their credit rport starts reflecting that each month and it lasts a heck of a lot longer than debt setttlement. Second of all, the consumers that incurred the debt should have some responsibilty with regrads to their credit scores being trashed…
To your surprise, you actually need to have a credit card these days. But you do want credit card debt. Suze Orman explains the benefits of credit cards, but warns about carrying adjustable rate debt from these credit cards.
If you really want to work with an company, look for one who can help you reduce your debt. Consider, Debt Settlement, Consumer Credit Counseling or an Unsecured Bill Consolidation Loan or a Secured Home Equity Loan.
