Popuar Topics



Main menu:


Weblogs of Interest

Credit Counselors Who Can’t Pay Their Own Credit Card Bills?

With the sad state if the economy these days, I’m seeing my share of ads on TV and online that tout the benefits of credit counseling services. I don’t know a whole lot about that industry, but I presume their stated intent is to assist consumers who want to reduce their debt and learn how to better manage their finances.

It’s easy for many consumers to end up in financial trouble during times like this when some of them are forced to rely on credit cards to pay bills and cover other expenses after losing their jobs.

I suppose I should not be terribly surprised to hear a story like the following in the age of “It all depends on the meaning of what the word is is,” but at the very least, some might find it amusing.

A story from the Orlando Sentinel not long ago described the credit card trouble that a credit counseling company called Breakthrough Credit Counseling Inc. is having with Bank of America.

Bank of America alleged that the company ran up about $18,000 in credit card debt and then failed to make the payments. The bank has filed suit against the company for the alleged non-payment.

Hearing news like this about a credit counseling company could surely give pause to anyone who had been considering contacting them for help with their debt. One might wonder how a company can counsel others regarding financial matters when they cannot pay their own bills.

Apparently, this is not the only trouble the owners of Breakthrough Credit Counseling Inc. are having. The article also states that a mortgage company sued to foreclose on their home during 2008 and that their their homeowners’ association filed a lien against them.

It seems as if the only “breakthrough” that they need to concern themselves with at this point is breaking themselves through to a debt-free life themselves.

Write a comment