How does DRES compare to debt consolidation or credit counseling companies?
Consolidation, credit counseling, and the majority of debt settlement companies promise to significantly reduce a consumer’s debt or offer lower monthly payments, however the truth is that they are highly unsuccessful. In fact, we have found that in the vast majority of cases, consumers find out (the hard way) that most of the payments they have made to these companies do not go to the original creditor as they have been told, but instead remain with the company to cover their fees. Also, many do experience lower monthly payments, but this means that often times they will now be paying this amount for 30-40 years! The end result is that thousands of dollars in payments have in effect been wasted or are simply just covering the interest. In addition, we have found that consolidation and credit counseling companies incorrectly tell their customers that once they sign up all of their cards will not be cancelled and their credit scores will not be damaged. When these events happen, consume
