Westlake Village, CA, July 30, 2009 --(PR.com
)-- “Debt settlement is a wise choice for those facing large credit card debt, but choosing the wrong debt settlement company can actually damage the consumer’s credit rating,” said Tom Brainerd, VP of Marketing for Greenlight Debt Relief, a leading debt settlement company.
Brainerd recommends looking out for these warning signs:
· The company promises that the consumer’s unsecured debt can be settled for less than the amount owed. There is no guarantee that any creditor will accept partial payment of a legitimate debt and this should be clearly expressed by the company chosen.
· The company tells the consumer to stop making payments to or communicating with the creditors. What they are not saying is that if the consumer stops making payments on a credit card account, s/he will incur late fees and interest that will be added to the total amount owed, as well as take hits to the consumer’s credit score.
· The company claims that creditors never sue debtors for not paying their debts. What they are not revealing is that creditors can and may sue if the outstanding debt is large.
· The company claims that they can have accurate negative information removed from the consumer’s credit report. It is illegal for any company or person to remove negative information from a credit report that is accurate and timely. It is hard to do in the first place, but if done, it is illegal.
Greenlight Debt Relief is a company dedicated to helping consumers achieve debt relief through debt counseling and debt settlement programs.
To learn more about this topic or to schedule an interview with Tom Brainerd, please call 877-290-9065 or email firstname.lastname@example.org.