constitution warily: What Do You Know About Family Financial Care? Are They a Scam ...

?Dear Steve,

I have incurred alot of credit card debt that is associated with a small business that I own and I am faced with closing the business. I have been told that I will held personally responsible for the debt since it is credit card debt and not directly owed to vendors. I don?t want to file bankruptcy but am not sure of other options. I have tried to contact the credit card companies to negotiate the interest rates but they are unwilling to assist because I am a payment behind. I get mail all the time regarding debt reduction but I am worried they are all a scam. I am not sure what to do.

I received a flyer from Rescue One Financial and was going to work with them regarding the above but decided not to after reading the information on your website. When I was reading articles that you had posted, I clicked on a link that I thought was part of your site but I think it was an advertisement. It brought me to another company called FAMILY FINANCIAL CARE. I thought it was something that you endorsed as a safe company but am unsure. I looked online and can?t find much about them. I am worried about putting myself in a worse financial situation. Do you know anything about this organization or a resource that can assist with the above situation.

Stacy?

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The Answer

Dear Stacy,

I?m not familiar with Family Financial Care. It sounds like it might have been an advertisement. For the scoop on ads, see this.

I looked at their site and it seems to be focused on selling debt settlement as the primary solution.

I looked around their site a bit and it is perplexing. On one hand they say ?Family Financial Care is attorney owned and operated and as such, must answer to a higher authority; The Bar!? and then they say ?Family Financial Care is not a law firm and does not practice law.? So which is it? ? Source

There page of past settlements is totally meaningless as well. There is no way to know if these are their clients or what percentage of overall accounts they have actually settled. ? Source

Then they make this erroneous statement that appears to scare people away from bankruptcy.

After you have filed for bankruptcy, it can affect your every day life in many ways. Bankruptcy can prevent you from getting a good job, getting a mortgage or buying a car. The stigma of bankruptcy can haunt you for years. Family Financial Care is dedicated to educating you about your rights. ? Source

If they are there to educate you about your rights then why avoid telling the truth about these myths.

See So You Are Going to File Bankruptcy. That?s Great News. Congratulations. for the real answers.

But that?s just my take on the site.

And besides, we don?t even know if debt settlement is even the best solution for your situation. Let?s take a step back.

I?d suggest you first read How to Get Out of Debt. The Honest and Unvarnished Truth and The Truth About The Success Rates, Failure Rates and Completion Rates of Credit Counseling, Debt Settlement, and Bankruptcy. They will give you a great overview of what we need to deal with to get you moving in the right direction.

Then use the free How to Get Out of Debt Calculator to review your options.

Once you?ve identified a company you want to work with, then follow my step-by-step guide on what you should look for and expect from a good debt relief company.

Please post your responses and follow-up messages to me on this in the comments section below.

Big Hug!