If you’re like many American consumers, you may have found yourself buried in debt and in need of serious debt help. Whether it’s student loan debt, medical bills, or credit card debt, we all seem to have debt in some form or another.
As such, many Americans seeking help with debt and financial planning advice — which essential to getting and staying out of debt — are turning to debt relief companies in an effort to regain control of their finances and achieve their financial goals. However, there are many considerations when looking for a reputable company that is right your specific needs.
So what can a debt relief company do for you? Debt relief programs offer a number of flexible debt solutions to get your finances back on track. These range from debt management plans, credit consolidation services, to debt settlement services. An experienced debt counselor will carefully review your case and work closely with you in order to determine the best option for your individual goals and needs.
Most people will naturally turn to a search engine in order to find a reputable company. It’s important to remember not to throw all your eggs in one basket. A good place to begin your search is at the National Foundation for Credit Counseling or the Association of Independent Consumer Credit Counseling Agencies. Make a list of debt relief companies that you’re interested in, and carefully research each one. Former client testimonials can be extremely helpful in making your decision.
From there, it may be a good idea to filter your list of debt relief companies through your state’s Attorney General’s Office. You’ll be able to find out of any complaints have been filed against the companies you have in mind, as well as the nature of those complaints. Also, the Consumer Protection Agency or the Better Business Bureau (BBB) are both excellent resources.
Reputable debt relief companies should collect most of their money from creditors, not from charging clients fees, according to the BBB. It’s important to ask the companies you have in mind exactly how their counselors are paid. Avoid companies that pay their counselors through commissions on debt relief solutions sold to clients. Also, if the company is not willing to provide terms in writing, do not use their services.
Finding a debt relief company doesn’t have to be tricky. With a little patience and research, you’ll be on the fast track towards debt relief in no time.