Home > I think they have it all backwards

I think they have it all backwards

August 29th, 2011 at 07:47 pm

Earlier today I seen a commercial for a ďDebt ReliefĒ Company that was advertising to help you lower your monthly minimum payment. I think this company has their thinking completely backwards. They said if you owed $20,000 and were paying more than $200 a month then you are paying way too much each month.

Now Iím confused here. Isnít the point to pay off your debt as soon as possible? Even if you were not paying any interest each month it would still take you a little over 8 years to pay off $20,000 at $200 a month. I think you need get that debt paid off asap and be done with it forever.

Donít sit around making tiny payments each month and barely eat away at your debt. Get yourself focused and hit that debt with all you have.

6 Responses to “I think they have it all backwards”

  1. Nika Says:

    Their client base thinks short-term, so they are dangling something that will appeal to these people.

    If they were financially saavy, they would not be using these companies to begin with. So I think this company knows their customer.

  2. Petunia 100 Says:

    It's not that they have it backwards, it's that they are hoping to make customers of people who do. Wink

  3. baselle Says:

    They are selling debt and "branding" it as relief. Doncha want to buy? Big Grin

  4. Ryan Says:

    I am so glad I stopped falling for those gimmicks years ago.

  5. Jerry Says:

    It's ridiculous. They are selling lower payments and eternal debt, and they claim that it leads to a better result? That is insane, and the only thing that it offers is insurance that these "clients" will be completely screwed financially until the day they keel over.

  6. Ryan Says:

    I completely agree with you on that one Jerry

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