How to Find a Reputable Debt Relief Company

How to Find a Reputable Debt Relief Company

The nagging phone calls, sleepless nights, and constant concerns for your future and the future of your family have taken their toll. You’ve had enough and have decided to do something about it- But what can you do?

If you are one of the millions of people suffering under the crushing burden of debt, you have probably heard the radio ads and seen the billboard advertisements for debt relief services. Perhaps you have felt that the claims made are too good to be true, or that it is probably just another scam that will sink you further into the financial quagmire in which you are already drowning.

Take a deep breath, relax, and know that there is hope. While many of the companies out there offering financial salvation are, indeed, nothing more than scam artists, there are plenty of legitimate, reputable companies who can help you manage your debt. The trick is knowing how to separate the good from the bad and ugly. This article will help you do exactly that!

The first thing you need to know is how to spot a legitimate debt relief company. The most important thing to do is to ask questions, not just of the company you are considering, but also of agencies that monitor the legitimacy of companies offering debt relief services. You should contact your State Attorney General’s office, The Better Business Bureau, and the Consumer Protection Agency to ask if the company you are considering has any complaints filed against them.

Be sure to ask the company that you are considering as many questions as possible. Any hint of evasiveness is a major red flag. Reputable companies have no problem providing you with any information pertinent to your case and your rights as a consumer.

You need to ask them to provide you with a comprehensive list of the services they will provide, a time frame in which they will be provided, and most importantly, how much it will cost you. Any company unwilling to provide these details should be considered suspect.

Now that you know what to look for in a reputable company, you may be wondering how to spot a bad one. Here is a simple list of behaviors that should serve as major red flags when choosing a debt relief company, according to the FTC:

  • They insist upon charging an up-front fee. Reputable debt relief companies will not charge you any fees until they have settled your debts and you have agreed to, and signed, a payment plan.
  • They will provide free information about their services until you have provided sensitive financial information such as bank account or credit card numbers. This is a major red flag.
  • They claim to be able to stop all collection calls and lawsuits or they guarantee that they will make all of your unsecured debt vanish. If it sounds too good to be true, it most likely is.

Debt relief may seem like an impossible dream but, in reality, with careful consideration, self-discipline, and the wisdom to seek help from the proper people, you can start to forge a path forward and put the nightmare behind you. More information can be found at:

https://www.consumer.ftc.gov/

 

 

 

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