subject: Finding Legitimate Debt Relief Help – 4 Things To Avoid Rip Offs In Debt Relief [print this page] Finding Legitimate Debt Relief Help 4 Things To Avoid Rip Offs In Debt Relief
A legitimate credit counseling service deals with the credit card companies and your other current creditors on your behalf to get you a better rate and more reasonable repayment schedule. Since they work with these companies on a regular basis and are experienced in what to say and how to day it, they can often succeed in working out the most effective payment schedule for your particular situation....better than if you were to call them yourself.
Now, you've done well so far by deciding to take control of your credit card debt, so don't fall down on the job now! You need to beware, as this is where the scams and rip-offs can come in. You must do your research to make certain that you select a good credit card debt settlement agency. There are excellent debt credit counseling services out there which can help with either debt elimination or with debt consolidation, but don't be sucked in by unrealistic promises! No one can work miracles, so do not believe the ads of credit card debt settlement agencies that promise to erase your debt overnight and get you a higher credit rating to boot. It isn't going to happen.
4 SUSPICIOUS SIGNS OF A SCAM OR RIP-OFF
No Accreditation - Look for credit counseling services that are members of the National Foundation for Credit Counseling
Upfront Fees - Many times credit counseling is a free service. If they do charge, it should be a minimal fee. Run the other way if you are asked to pay a large upfront fee.
Ask How They Work - Legitimate agencies will clearly explain their fees (if any), the methods they use to help manage your debt, and what you will be expected to do for the most favorable outcome.
Unrealistic Promises - Only con artists will tell you they can settle your debts for little or no money and that your credit rating will not be affected. You do owe the money and you do have to pay it back.
Whether you use credit counseling services online or in person, their role is to help you reduce your debt and to help you establish good financial habits. They can help you figure out where you went wrong, what you can do to fix things, and steps you can take to keep from getting into the same boat again. A good counselor will help you work out a plan that suits your situation and decreases your debt one step at a time. The services will work with your current creditors to get your interest, and possibly even payments, lowered. Credit card counseling can help you get your credit score back up and keep it there.
