Benjamin Franklin was a very interesting person with a sharp mind, especially when it came to money. He was the person who largely believed in the theory of compound interest. He got this theory so nicely understood that he gave the cities of Boston, Massachusetts and Philadelphia, Pennsylvania over 27 million dollars. Amazing!! That’s a lot of $100 bills.
Now, you will be interested to know how it was done. He invested approximately $9,000 into a trust fund. He knew it very well that when it will mature after 200 years, it will grow into a huge amount. You might be interested in using the same theory that he did. So, now you decide, do you actually want to pay interest, or the other way, earn interest? :wink:
By signing up a debt counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
Some creditors and collection agencies refuse to lower the payoff amount, interest rate, and fees owed by the consumer.
Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.