How to Avoid Debt Elimination Scams

There are a ton of debt elimination scams that are preying on people who are desperate to get out of debt. The poor economy seems to have brought out several more of these questionable businesses, which should be a concern to those trying to crawl out of debt. While on the surface, many of these programs seem like a legitimate opportunity to get your credit card debt or other finances under control. However, as soon as they ask for a one time fee or any monetary payments from you, a red flag should go up. It is actually possible to get out of debt on your own without the help of others provided you use common sense thinking and create a plan. Here are a few ways that you can avoid exposure from debt elimination scams.

Instructions

1

Make a detailed plan of your current income and expenses, highlighting accounts with a monthly balance carryover. If you can identify your current money coming in and out, it is the first step in being able to avoid debt elimination scams. Creating your own budget prevents the need to hire someone to do this step for you. Since you are completing this step on your own, it avoids any potential confrontation with a questionable debt elimination strategy.

2

Get help from non profit organization that are setup to help people get out of debt. If there is any question on the validity of an organization, do an online search from Google to see what comes back. There are quality organizations out there that are devoted to helping people and are not just another debt elimination scam. The hard part is determining who is legitimate and who is not. Use a general rule of thumb that if someone requires a payment or personal information, they are probably a scam.

3

Look for online blogs and websites that specialize on personal finance topics. You should be able to find some quality free information about debt elimination that is not a scam. Be careful as to not read everything on these sites as absolute truth and do your own research before working your way out of debt. The important thing to keep in mind is that you should take responsibility for your own actions, which should help reduce the risk of getting tied up in a debt elimination scam.

4

Purchase get out of debt books, guides, or self help products to work your way out of debt. While you may be spending some money upfront to help you reduce your debt, you also know what you are spending it on. A book is not going to turn into one of those debt elimination scams that you need to worry about. Check out reviews online for information about recommended publications helping you work your way out of debt.