How to Hire a Debt Consolidation Company

If you are in debt and considering consolidation, the following tips will help you get the best service from your debt consolidation company and avoid being scammed.

Instructions

1

Don't go with the first debt consolidation company you find. As when shopping for anything else, do you research before choosing a debt consolidation company. You have probably seen several companies advertising on television and online. Take down the names and contact information for all of the companies that catch your eye. As a general rule, you should probably contact at least three different debt consolidation companies before making your decision on whom to hire.

2

Talk to the Better Business Bureau (BBB). A good place to begin researching debt consolidation companies is the BBB's website, located at BBB.org. Make sure that the company you work with does not have any serious, unresolved complaints.

3

Talk to others who have used debt consolidation companies. If you have friends or family members who have consolidated debt, talk to them about the companies they've worked with. You may also want to look on Internet message boards to hear about others' experiences with specific debt consolidation companies.

4

Get everything in writing. Before you agree to work with a debt consolidation company, get a written copy of their policies and fees. Take the time to review it carefully and clarify any questions you have in advance before signing anything.

5

Make sure everything is clear. The debt consolidation process can be complex, so be sure that you understand all of the terms from the start. If your debt consolidation company is not helpful and up front in answering your questions, consider working with someone else. Remember that your financial health is at stake!