How to Find the Right Debt Consolidation Company

When searching for the right debt consolidation company, it is always best to rely, first, on your gut instant and, second, on the company's reputation and previous operating practices. Finding a reputable debt consolidation company requires legwork. However, if you are thorough in your search, you'll find a legitimate and experienced debt consolidation company that is right for you. Doing research also allows you to ask the hard questions and receive the answer you want before making your first payment.

Instructions

1

Select a debt consolidation company with a business address. It is almost impossible to regulate an Internet based company. Check for a business address along with an employer identification number and articles of organization. If the company is a "non-profit," confirm its 501(c)(3) status.

2

Research the company. Check the company's reliability report at the Better Business Bureau's website. The rating can vary from "A" to "F," with "A" being the most favorable. Contact your state's attorney general's office and inquire about consumer complaints and company responses to those complaints. Avoid debt consolidation companies with a high volume of complaints.

3

Interview the company. Schedule a consultation with a debt consolidation counselor who can answer your questions, review your credit information and provide a quote free of charge. A reputable debt consolidation company will not charge a consultation fee.

4

Compare rates against multiple companies. Look for averages across the industry. Contact several debt consolidation companies and avoid those that quote unusually high or unusually low rates.

5

Ask about the delivery options for customer support. For example, ask if phone support is available and if other delivery options, such as Internet support, are available.