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debt elimination rip-offs?

Posted By: economica
Date: Tuesday, 7-Oct-2003 11:13:27

In Response To: debt elimination scarying off people (economica)

Re: debt elimination scarying off people So I have a loan on a mobile home around 38.000 I have heard of Rip OFF Tom Schauf who was pretending to help people but in the end was just as much of a scammer as the regular banks were...I need a place to live so what do I do econimca...I guess keep making the payments as long as can afford to...398.00 not bad but i am wondering how much of it is interest...15 year loan and they expect to turn a 39,900.00 in to 97,000 so would you say half is interest? Thanks -- Sherry ================================================================ Greetings Sherry: Although it is worth to watch out, I dont think all those debt elimination programs/firms to be rip-offs. The same about Schauf. Those firms too may expose themselves to lawsuits. This is something the Banking Cartel gladly would use to keep people from using such services and spread more disinformation. From what I have heard there is a very specific tactic/strategy to follow, otherwise it fails. Hence the need for a specialist in the field. People being scared off aside, my second main concern is about the fees of those firms . Asking between 500 and 900 dollars per case (credit cards and mortage) is something that makes me cringe a little bit. It is very expensive. People seeking for help have hit the brick wall or about to do so. Most of the people I talk to had up to 4 credit cards and an average of 50,000 unsecured loans. So I wonder where they are going to find the money, if you already are severly impoverished and additionally must take a scary decision, chances are even huger for these people not to go through the whole process. I never heard again from the people who contacted me and the agent told me that none appeared to be really decided. Either they got frigthened or I have been fooled by the agent and some of people who got in touch with me... I realize this to be possible too. But considering the very small comission per case(more or less 50 dollars) I was supposed to get, I doubt it. I dont see why that firm would want to boot me so quickly if I provide them clients (I was told only 3% of those asking for more details move ahead). On the other hand, if that firm had been dishonest, I am sure the potential clients I recommended would have gotten back to me to share this.

Articles In This Thread

AREN'T" WE GULLIBLE'S" EASY TO SWINDLE ???
Questionnairy -- Monday, 6-Oct-2003 12:33:53

debt elimination scarying off people
economica -- Monday, 6-Oct-2003 12:56:13

debt elimination rip-offs?
economica -- Tuesday, 7-Oct-2003 11:13:27

debt extermination costs: $2000-$3500 on up
economica -- Wednesday, 8-Oct-2003 11:36:08

* PIERCING THE CORPORATE VEILS OF GOVERNMENT *
hobie -- Monday, 6-Oct-2003 19:17:51

HERE WE GO AGAIN.....
SecuredParty -- Monday, 6-Oct-2003 19:29:03