I have been scouring the web gathering information and such. I came across some information on ‘debt assumption‘ – has anyone ever heard of it or used it for their credit card debt?
From what I read, the company legally assumes your debt. They themselves create a new agreement with the credit card company. part of the agreement is that the credit card company erase all bad marks on your credit history.
They are registered with the BBB and some other organization as well.
From what I read, it works for school loans and signature loans as well.
Anyone ever heard of this or used this process?
I can email the info I found on it – if anyone can help me evaluate this, I would appreciate it.
At times the best option in situation like yours is to get a cash loans from companies like SpotLoan, ErgLoans or NorthCash. All three are very well-known established companies and provide great service.
Regarding your question – ‘debt assumption’ sounds just like the debt reduction companies that will talk to creditors and negotiate down your balances. How much debt do you have? Sometimes it’s not a bad idea depending on your situation.
But alot of times you can do this on your own and you also pay quite a bit of fees to them so they make money. You just have to weigh out how much you save to how much you pay them. Plus they do all the legwork of the debt. Good like with your efforts!