You have read all the hype and listened to all the commercials about American credit counseling, haven’t you? Almost every one of them has promised to get you out of debt, eliminate your bad credit report and do it all legally. Right?
In addition you have heard many of them proclaim to be non profit. You begin thinking “Oh boy! There going to do it for free”. Guess what? Don’t you believe it! If you do you’re in for a rude awakening.
Many of these companies that make these claims are just barely within the law. They aren’t quite cheating you and lying to you, but they are pretty darn close. As you get into the fine print of their claims and contracts, you begin to discover the real truth.
First of all these companies can no more expunge your bad credit than the man in the moon. Much less do it legally. The only legal way to get bad credit off your credit report is to pay what you owe.
But the fact is every late payment, defaulted loans and other bad credit reports, including the record of your debt consolidation stays on your record. Currently all this information will be available to lenders, insurance companies,...
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