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 WARNING............. Beware of debt liability management companies which commonly lack honesty and integrity and will promise you what cannot and will not be delivered. Beware of remortgaging at a higher than prevailing interest rate, as well as any variable rate interest only  mortgages amortized for 40 year term.

This is a trap which leaves the client vulnerable to variables of the markets. Sub prime lenders are in deep trouble, and this is who these companies are most often using.  DO NOT USE COMPANIES WHICH USE THE ABOVE HIGH RISK STRATEGIES RISKING YOUR HOME ON FALSE PROMISES OF PAYING OFF YOUR DEBTS AND MORTGAGE IN UNDER TEN YEARS.

EXAMPLE: A client is taken out of a 6% 30 year mortgage and put into an 8.25% 40 year variable rate to extract as much equity from home as possible to upposedly pay down unsecured high interest loans. The only problem is, the 100% variable rate 40 year mortgage is what is now well defined in the market as sub prime mortgages, even if the client has an excellent credit score. The reason is obvious, who lends at 100% plus?

This is a scam on the consumer and should be avoided no matter what so called financial consultants tell you or show you on their spread sheets, it is all a house of cards. Imagine the company being closed down for putting all these consumers into sub prime mortgages which as we all now know are mostly going bankrupt. When the full impact of the mortgage and housing meltdown is felt, where will these poor consumers go when their mortgage payment rise and the companies are bankrupt. never mind all these near fraudulent, if not blatant fraudulent mortgages which were not disclosed to borrowers.

I know from personal experience that these companies are going to be crushed once the full impact of rising mortgage interest rates kill the debt liabiliy management business plans. As a former consultant in this debt liability industry, I can back up everything stated here for those considering this type of business model, both as a consumer and as a financial consultant.

I was in the mortgage business for years and thought this would be a perfect segway from mortgage industry, which was in decline with impending subprime banking collapse. Don't make the same mistake I did with a company of no integrity and which failed to pay the agreed to commissions owed. Don't pay these companies a dime for university training for it is nothing more than a rip off of you money, and non refundable. They promoted commission schedule and it changed three times in less than a year I was a consultant. They lost documents three times on the first client I submitted. The suppressed terms of new mortgage terms and interest rates being charged with slight of hand tactics. They do not respond to problems once they get their advance fees from mortgage refinancing, so beware, stay away from these dishonorable businesses. Stay tuned, I was sent a $250.00 check instead of agreed to $1,500.00 plus with bonus offered, and after three months to close, they send a referral fee of $250.00.

What a joke, so if you are a consultant who has also experienced a similar experience, I am interested in hearing from you to start a class action suit against this to be named company. For the poor consumers who have been ripped off, please submit your experience and I will post it on this site which sits on top of Google search engine under debt liability management key word terms. Anyone who has experienced the above, please submit your story.

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