Collection agency, its that soo bad?

Question

Do you think a collection agency is soo bad? If so why are too many ?

Answer 1

Are you referring to a Collections Agency, or Debt Consolidation?

Collections Agencies exist to help companies get their money back when they've lent it out to someone who in return did not pay them back.  People don't like collection agencies because they tack on a lot of fees on top of the original debt.  They're also known to be very rude, persistent, and demanding.  It's their job.

Debt Consolidation companies exist because there's a LOT of people looking for ways out of debt.  Sometimes they do work.  My boyfriend's been using "Take Charge America", Bank of America's debt consolidation program for about a year now, and it's helped him a LOT.  For other people, the problem is deeper than surface level and simply consolidating the debts into one does not help them get rid of it.

There's pros and cons to everything out there.  If something were truly useless, it would not exist; this is especially true regarding businesses.  

Answer 2

Theyre scum, dont even go there. I tried to do a debt consolidattion

with 5 ccards and they stole 800 dls from me. What a lawyer told me

is that most of these companies are fly by night companies, they

open and close without any notice. Why there bad, you ask, because

they take advantage of peoples desperation to get out of debt, but

they also charge enormous fees to do something that you can do on

your own, save 150 dls a lmonth, once you have saved up what you

owe, pay your creditor, thats what these collectgion/debt consolidation

companies do, they save the money like in an escrow account then

they settle the account for you peennies on the dollar you are pauing

way more than if you settle lyourself, so try it, you cant do any

worse.  Good lucki!!!