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Hey Fools,

Is it just me, or has the marketing of these so-called "non-profit" associations than handle Consumer debt (like Ameridebt, Debtfreedom, etc...) has gone up the roof??? Am I seeing visions? In TV and online, ads for these organizations are everywhere! Not that I mind more help for people who need to get their debt under control. However, I happen to know a good bunch of these "non-profits" are well funded by banks and credit card issuers (sometimes by regulation, like the CCCS on each state, but more often by choice of banks and credit issuers) I guess they want to avoid BKs on their customer base, so they offer these services of "last resort" to people.

Most operate ONLY for unsecured debt, so they are not really alternatives to BK unless all your debt is unsecured. Also, I saw an ad of one of these organizations offering "cash back" to those paying on time. The way it works is that you front the money yourself, they hold it (keeping the interest) and then at the end of some period of time, they give it back to you. The kicker? well, if you enroll and then drop later, they get to keep the $$$...what a helpful freakin' service!!! Has anyone here use them in their way to BK, or perhaps instead of BK? I know CCCS is a truly non-profit, but what about everyone else offering these services?

So am I seeing visions or has the marketing of these organizations increased a lot lately? Defaults are more likely to happen in this shrinking economy.... Is this why banks are giving money to them? why would a non-profit have so much $$$ for advertising?

I smell a rat.


PS: Happy Holidays to all!!!
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