The hunt for real debt relief solutions can sometimes get clouded by the different scams that are out there. Many people searching for debt assistance are reaching out to financial professionals for the first time. The lack of experience in dealing with debt relief organizations can be dangerous.
The best way to avoid debt relief scams is to become familiar with the the tell-tale signs of a disreputable organization. Before you even talk to a debt relief organization, take the time to see if it could be a scam or not.
Too Good To Be True
One of the ways that scams lure in unsuspecting consumers is with promises that seem too good to be true. These can include promises of guaranteed debt consolidation loans or the promise that consumer debt will be reduced by as much as 80 or 90 percent.
If it seems too good to be true, then it probably is. Debt consolidation loans require good credit or a significant amount of collateral for approval, and guaranteeing to reduce debt by anything over 50 percent is suspect.
A reputable organization only gets paid after it has delivered on its promises. If a debt relief organization promises to reduce your debt by up to 50 percent, then you should only pay that organization when it has achieved that goal.
A debt relief company that asks for large upfront payments could be a scam. When you are talking with a debt relief professional, make sure that you know the payment schedule before you sign an agreement. If the financial organization will not share the payment schedule with you unless you sign an agreement, then find another debt relief company.
A professional financial assistance company works hard to stay current on the newest developments in its industry. A reputable financial company also wants to be recognized for having a high code of ethics when it comes to the way it does business.
When you are searching for a debt relief organization to help you, it is important to find one that maintains professional affiliations. These affiliations would include organizations such as the U.S. Chamber of Commerce and the American Fair Credit Council.
Each of these professional organizations has strict rules of conduct that each of its members must follow and certification standards that members must uphold. These are important factors when looking for truly professional organizations.
Some debt relief organizations seem to be perfectly legitimate when you examine their websites and go through their marketing material. That is why having a personal discussion, either in person or over the phone, with a financial firm is important before making a final decision.
If a financial professional asks you for account numbers or personal identification numbers in the first visit, then that is a sign of a potential scam.
Another good indication that you are speaking to someone who does not have your best interests in mind is a financial associate that starts suggestions solutions before hearing your situation. In order to help you get your finances under control, the debt relief expert first has to have a good understanding of your situation.
Navigating the waters of debt relief services can be intimidating and confusing. But when you know how to tell a scam from a reputable organization, then you will be able to make a much more informed decision on which companies to talk to. You can also search out debt consolidation reviews on your favorite search engine and see what other people have to say about a company.
We have been in the business of helping consumers control their credit card and medical bill debt for years. Our affiliations with the top credit counseling and business organizations in the country help us to maintain a high standard of service that we are proud of.
When you want to talk to a reputable debt relief organization that has a long list of satisfied customers, then we are the company you need. Pick up the phone and call one of our financial experts today to get your comprehensive financial profile and analysis started.