Debthunch looks like a bait and switch debt consolidation loan scam. Debthunch has been flooding the market with 0% APR debt consolidation and personal loan offers in the mail. The problem is that the terms and conditions are at the very least confusing, and possibly even suspect.
The interest rates are so low that you would have to have near-perfect credit to be approved for one of Debthunch’s debt consolidation offers. “This isn’t anything new,” according to Ed Miles of Crixeo, “Bullshit low APR debt consolidation offers in the mail are about as old as the US Postal Service.”
According to an industry insider that chose to remain anonymous, “Debthunch is just the middle man. The companies that they sell leads to are the true bait and switch artists. But Debthunch knows they are selling most of their leads to debt settlement companies and not actual lenders.”
If you are drowning in the deep sea of student loan payments, medical bills, credit card debts, or car loans, you might be looking for a life preserver to help you out. However, did you know that debt consolidation can make paying bills an organized and easy process by rolling multiple high-interest debts into a single payment? So if you are looking for a way to balance outstanding debts and keep track of your payments, debt consolidation will make it manageable for you. Read on to learn more about debt consolidation, its pros and cons,…