what are the debt relief companies called that give you a loan called?

Answer 1

Debt consolidators. There are a lot out there. All you have to do is search on "debt consolidation". Before you do, know that many are not much more than loan sharks. Some say that they are non-profit, some say they don't charge, there are a lot of advertising. Check with the better business bureau

www.americanfinancialservice.org
www.debtconsolidationcare.com
www.debt-settlement-america.com

Answer 2

They are called Consolidation companies. They will negotiate with your creditors and set up minimum monthly payments. But there will be no reduction in the principal balance and it will also take ages to be debt free. They will also ask for assets as a security in order to join the debt consolidation.

I would suggest you to join a debt settlement company who will negotiate with your creditors and bring down your principal debt by around 30% to 70% depending on your credit companies. They wiil not give any loans but you can make affordable monthly payments and be out of debt within 3-36 months.

There are no hidden costs and upfront fees associated with the monthly payment options. Once you join the program, they will start negotiating with your creditors within 24 to 48 hours.

For more information check this debt settlement company who has helped me with the unsecured debt situation.

http://www.debtfreeafterall.com

Good Luck

Answer 3

What you may desire to recognize approximately debt settlement companies: Your mastercard companies are unlikely to furnish you settlements like 50%, to illustrate, in case you're modern-day (not at the back of) on your money. incredibly, the only way you will get right into a place to barter settlements is to intentionally permit your debts circulate into default. it truly is precisely what debt settlement companies do....They take a month-to-month quantity from you and use that to construct a “settlement” account, which will circulate in direction of paying the “settlement” at a definite date. Your lenders will intentionally not be paid. they won't be chuffed approximately this. in case you're modern-day on your debts, this technique will wreck your credit status as your debts will all circulate into default. Your lenders are decrease than no criminal accountability in anyway to settle for settlements from any debt settlement enterprise you hire. Their reaction could desire to be to serve you papers and take you to courtroom. You don’t could desire to pay any enterprise to purpose settlements. you may attempt this own your own. in basic terms undergo in strategies, in case you presently have solid credit, this technique will wreck your credit and there’s no assure that your lenders will settle for settlements. in case you're presently in default on your credit playing cards, you may make your own settlement gives you. You don’t could desire to pay absolutely everyone to try this for you.

Answer 4

Felons