Debt relief companies are for-profit institutions that help you manage and pay down your debts. Depending on the company and what services are offered, they may work with creditors to help you get out of debt for less than what you originally owed.
Most relief companies charge a hefty fee for their services. However, just like with loan lenders and credit card issuers, each company offers different services, namely debt consolidation, debt settlement and credit counseling and debt management.
How do debt relief companies work?
Debt relief companies exist to help consumers get out of debt faster by making their monthly payments more manageable. These services are provided in exchange for fees that range based on the type of assistance you…
Read the full article at: https://www.bankrate.com/personal-finance/debt/what-are-debt-relief-companies/