Fundamentalism Debt Consolidation Group Is a Hit In Poor Areas

A group of free-thinking entrepreneurs who many people say are just plain batty have formed a new group in the greater New York area. The name of this organization, as it stands right now, is The Fundamentalist Debt Consolidation Group,

Seattle, WA (prHWY.com) August 13, 2012 - A group of free-thinking entrepreneurs who many people say are just plain batty have formed a new group in the greater New York area. The name of this organization, as it stands right now, is The Fundamentalist Debt Consolidation Group, and what they do is buy you out of your debts.

Yes, they actually pay people to take on their debts. To acquire a debt of between 10 and 20 thousand dollars, they will give you $500 out the door, and they handle all of the paperwork themselves.

"It's a motivational thing," said group creator Charles Knight. "The 20 or so of us who started the project all feel like motivation is the driving factor in making money. So what we doing is trying to put ourselves in millions of dollar of debt, so that we will have to figure out how to make that money, in order to pay it back."

There is some qualification process that goes into being able to sell your debt to the FDCG.

"We're not looking to purchase someone's debt who got there because they were careless," said Knight. "We're looking for people who gotten into a lousy situation because of the troubled economy or some other factors beyond their immediate control, like sickness or some kind of accident."

So people make their way through the application process, and they find out within a week or so whether the group is going to buy the debts or not.

"A majority of the debts that we've purchased at this point are school debts," mentioned Knight. "Those tend to be the easiest to get into and the hardest to get out of. After we purchase those debts, we never expect anything back from the people we get them from, either, so at that point we have free reign to tackle the financial situation in any way that we can."

So far the group has established a dozen highly successful business and paid off millions of dollars in debts, simply by creatively finding out ways to produce money in order to stave of creditors and banks. After the debts have been paid off, the company will then donate the business proceeds beyond that to various charities around the world.

Knight and his employees found that working within the typical system, they were bored and lazy, so this is the route they have chosen to add excitement into the otherwise dull world of financial ruination.

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Tag Words: debt consolidation

Categories: Finance

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