Having more debt than you can handle is a bad situation. Navigating through a minefield of predators looking to profit from your misfortune when you’re seeking help can be even worse. You’ve seen the ads: “Settle Your Debts for Pennies on the Dollar” or “This New Government Program Can Erase Your Debt Completely”. Hopeful, you look into them, only to learn they’ll actually increase your debt. So, what can you do?
Here’s how to work your way through the good the bad and the ugly when it comes to debt relief.
If It Seems Too Good To Be True
When the pitch sounds as if your debt will be wiped away today – with no repercussions whatsoever, you can be certain you’re on the receiving end of a con. Just as time is required for debt to accrue, time will be required to shed it. Further, life is all about compromises. For every action, there is an equal and opposite reaction. If your debt goes away, you’re going to have to do something to make it happen. Every reputable debt relief company will be up front about that. When something sounds too good to be true, it usually is.
If They Ask For Money Right Away
“Yes, we can absolutely negotiate your debt away, no problem. To get started, all you have to do is pay our $$$ registration fee and you’ll be on your way to a debt free future.”
In a scenario such as this, you’ll probably be on your way to an even more debt laden future – and you’ll be out the $SS-fee besides. Reputable debt relief companies assess your circumstances, determine whether you’ll truly benefit from working with them and lay out plan of action for correcting your situation. Only after they settle a debt on your behalf – and you accept the terms they negotiate – will you be asked to pay.
If They GUARANTEE
“Our proven success in this area allows me to guarantee your debts will all be cleared up in no time at all!”
No reputable debt relief firm is going to make such a claim. They’re not in a position to do so, even if they’ve settled lots of debts just like yours with the exact same companies you owe. Every situation is different, and lenders evaluate each one on its own merits. Even if they agreed to a previous proposal, there’s no certainty they will agree to the next one they see. Reputable debt relief companies know this and will not make guarantees.
If They Try To Sign You Up Without An Assessment
Scammers are all about closing the deal as quickly as possible; telling you everything you want to hear and nothing to make you think twice about signing with them. However, no agency can determine the viability of its services for your circumstance until they’ve assessed it. You might have mortgage debt and car loans, both of which are resistant to negotiation and settlement efforts.
Have they asked about your income? Do they know if you’ll even be able to meet the terms of a settlement agreement? Anybody trying to sign you up without looking into these areas is not interested in settling your debt. They’re planning to leave you in even more debt.
If They Disparage Other Companies
Scam companies might make false claims that legitimate companies like Freedom Debt Relief lies – but this couldn’t be farther from the truth. In fact, Freedom Debt Relief has resources that educate people on how to avoid scams. If they spend more time telling you why other companies are bad than they do telling you why theirs is good, something’s not right. Reputable companies are aware of their peers and will acknowledge their veracity, even while telling you why you should stick with their offerings.
Wading through the good the bad and the ugly when it comes to debt relief can be a daunting task. However, if you look for the clues listed here, you’ll see nefarious individuals for exactly who they are.