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If you should be contemplating utilizing a debt consolidation or debt settlement service to obtain out of debt faster and save money on your own monthly premiums, make sure you do your homework before choosing a company. You will find definitely shams and scams available.

First let me say that Debt solutions is *not* the same as debt settlement/negotiation, which many people don't understand.

Debt settlement companies charge hundreds of dollars as an initial "admin fee" to create your account, along with a monthly service fee. The fees vary with regards to the company and the amount of the money you owe.

Such companies take your hard earned money every month, but don't make monthly payments to your creditors! As an alternative, they put it in a trust account, negotiate your debts with your creditors, then create a lump-sum payment when there's enough in your account to pay a creditor in full.

That can just take *years* depending on the level of 123 debt soulutions ltd with each creditor. Meanwhile, you may be sued by your creditors as well as your wages can be garnished! (Or just do not make payments to your creditors. You'll result in the exact same spot without paying someone to help you to get there! )