Quote Originally Posted by Freakie_frog View Post
Most of those places here simply buy your debt off your creditor and while the monthly payment is less the interest is far greater.. for 5K most creditors will work with you to get their money back..

ahhh... see here in Canada they will advocate on your behalf and deal with the creditors, then consolidate everything for you and settle with the creditors for a percentage of the amount you owe to be paid back. They also go through and teach you budgeting skills, help you set up a family budget so you can live within your means and help you establish a savings plan. They do charge a fee for the service but it ends up being way less than the debt amount, most of these places are not-for -profit organizations. I have sent many people to them over the years and they have always benefited and ended up on their feet quicker than people who try to do it on their own.

I guess things are very different down there.