Following an in-depth investigation, ASIC is warning consumers to steer clear of debt management businesses that promise to clean up your financial life in one fell swoop.
The kicker is that many such operations also called debt consolidation firms charge high upfront fees for services you could do yourself for free, including challenging incorrect information on your credit report or working out payment agreements with utility or telco companies.
It’s no accident that the fee structures with debt consolidation businesses are nothing short of incomprehensible; figuring out how much you’ll owe in the long run is all but impossible.
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The ASIC report, Paying to get o…
Read the full article at: https://www.choice.com.au/money/banking/paying-bills/articles/debt-consolidation