Legitimate debt relief and credit counseling services do exist. Unfortunately, unscrupulous companies targeting cash-strapped consumers also exist. Protect your finances and credit by comparing services and pricing from several companies before choosing a debt relief plan.
Types
Debt consolidation companies offer lower interest rate loans to pay off multiple high interest rate debts. With debt negotiation, a debt relief company negotiates with your creditors to lower interest rates and reduce debt.
Identification
Check for complaints and company histories with the Better Business Bureau (BBB). Additionally, your state attorney general's office has information on both legitimate and fraudulent debt relief companies.
Considerations
Reputable debt relief companies offer credit counseling and debt relief. The Federal Trade Commission recommends using debt companies that offer budgeting advice as well as debt relief solutions.
Warning
Be wary of debt relief companies that make claims that sound too good to be true. Offering instant credit repair or complete debt elimination may be a sign of a deceptive or fraudulent company. Additionally, legitimate companies explain all fees up front and in writing.
0 comments:
Post a Comment