re: Debt Debt Debt.

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Can someone point out the iron clad negatives of debt consolidation?

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they have been pointed out several times.

By the way what you are describing is debt settlement not debt consolidation.

The debt settler is 100% going to default you with some creditors, create charge offs with others and charge you thousands to do so all the while create long term debt for you which will include their fees.

You might as well just default on your own, it will be much cheaper in the long run.

Is that crystal clear? If not click the link and read below. https://www.consumerfinance.gov/ask-cfpb/what-are-debt-settlementdebt-relief-services-and-should-i-use-them-en-1457/

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Warning: Debt settlement may well leave you deeper in debt than you were when you started. Most debt settlement companies will ask you to stop paying your debts in order to get creditors to negotiate and to collect the funds required for a settlement. This can have a negative effect on your credit score and may result in the creditor or debt collector filing a lawsuit while you are collecting settlement funds. And if you stop making payments on a credit card, late fees and interest will be added to the debt each month. If you exceed your credit limit, additional fees and charges may apply. This can cause your original debt to increase.

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