is it just me or is this going way beyond belief!!quite a number of people globally are in debt but these adverts claiming they can help get rid of your debt are outrageously stupid!!
for the following reasons:
if for example you are 35, you can borrow from 25,000 to 150,000 pounds.but the repayments could vary from 5 - 25 years!that means you could only be debt free when you are 60!
and people saying but they are affordable monthly paymens, well how long are you planning to pay this sum of money back!
look at the interest, these people are probably making more money than the financial institutions that you owe the money to in the first place.
basically what i am saying here is why not promote money management and not debt relief???all people really need is to know how to manage their money!
2007-03-21 03:40:10 · 8 answers · asked by Anonymous in Business & Finance ➔ Credit
I aggree, these adverts are simply offering to put people into more debt, but just taking their money back over a longer period over time making it seem easier.
If someone is struggling with paying money back to lenders the best thing anyone can do is contact the lender and inform them they are having trouble. Most of the time the lender will sort out an easy aggreement to help pay the money back.
Don't hide your head in the sand and hope by taking on more debt it will go away, believe it or not but these companies are run by people just like us!
2007-03-21 03:51:28 · answer #1 · answered by kiwiholz 1 · 0⤊ 0⤋
Yes, you have spotted the contradiction too. The only way to get rid of debt is to pay back, and these companies are not going to do that for you. Instead they are going to take money from you to make you pay back the debt. They justify their service by arguing that people in debt are often undisciplined and confused and don't know where to start to pay back. However, the services these companies offer are often overpriced and similar (better) services are often available for free from CAB or banks.
It's another example of Rip-Off-Britain.
2007-03-21 03:52:50 · answer #2 · answered by Anonymous · 0⤊ 0⤋
that is achieved under our modern funds gadget. That deliver sailed a protracted time in the past. All funds is now based entirely on debt. Any time new funds is created new debt is created. The debt of the proper funds and the debt of the interest are created. the project is that the money to pay the interest under no circumstances gets created. Fractional Reserve banking one hundred and one. have been ******* screwed.
2016-10-19 06:12:59 · answer #3 · answered by ? 4 · 0⤊ 0⤋
I bet you these companies are also linked to the companies that gave the original debt. So they are just protecting their own interests and making more money from your misery.
2007-03-21 05:15:15 · answer #4 · answered by Mark J 5 · 0⤊ 0⤋
Who needs help done it myself this last 14 months rid myself of debt
2007-03-21 03:43:54 · answer #5 · answered by colin050659 6 · 0⤊ 0⤋
crazy isn`t it - it`s an invitation to get into yet more debt.
2007-03-21 03:46:03 · answer #6 · answered by Spurs17 4 · 0⤊ 0⤋
I agree with you wholeheartedly.
2007-03-21 03:44:23 · answer #7 · answered by Polo 7 · 0⤊ 0⤋
ya i agree with u my frnd
2007-03-21 03:54:14 · answer #8 · answered by boo v 1 · 0⤊ 0⤋