Best Debt Consolidation - How to Avoid Being Scammed
When people need the services of debt consolidation companies or nonprofits, they are already stressed about money.
Having to choose among all the debt consolidation companies out there can be confusing.
Some operate as nonprofit companies, and others are for profit companies.
They all charge for their services, but before people sign up with a debt consolidation service, they should call their credit card companies and ask them who they work with.
This gets little air time, but can be critical to choosing the right company to help in a financial bind.
The credit card companies have far more experience with debt consolidation than people who need debt consolidation services, and if they won't work with certain companies, their debtors are going to be in a difficult situation.
Another good way to choose a good consolidation service is to contact the BBB.
They keep records of consumer complaints, and if there are lots of complaints about a certain company, it's best to stay away from them.
Another source of excellent information is the FTC.
This is a governmental organization that monitors these services and will let people know whether a company is legitimate or not.
Some of these companies marginally operate on the right side of the law, so caution is the best piece of advice if one seems too good to be true.
Companies who ask for your private data like social security numbers, credit card numbers, and want money up front may be scams.
It's best to use a lot of caution when signing up with them.
People can also go to their bank and ask to speak with an officer who can let you know what your options might be for the consolidation of your debts, whether it is as a loan or true consolidation.
Having to choose among all the debt consolidation companies out there can be confusing.
Some operate as nonprofit companies, and others are for profit companies.
They all charge for their services, but before people sign up with a debt consolidation service, they should call their credit card companies and ask them who they work with.
This gets little air time, but can be critical to choosing the right company to help in a financial bind.
The credit card companies have far more experience with debt consolidation than people who need debt consolidation services, and if they won't work with certain companies, their debtors are going to be in a difficult situation.
Another good way to choose a good consolidation service is to contact the BBB.
They keep records of consumer complaints, and if there are lots of complaints about a certain company, it's best to stay away from them.
Another source of excellent information is the FTC.
This is a governmental organization that monitors these services and will let people know whether a company is legitimate or not.
Some of these companies marginally operate on the right side of the law, so caution is the best piece of advice if one seems too good to be true.
Companies who ask for your private data like social security numbers, credit card numbers, and want money up front may be scams.
It's best to use a lot of caution when signing up with them.
People can also go to their bank and ask to speak with an officer who can let you know what your options might be for the consolidation of your debts, whether it is as a loan or true consolidation.
