Jumping to the first debt relief company that they see is a mistake that many people make when they are in debt. Their program might work but it might also not work. It all depends on the company you go to, how reputable they are, and whether they are actually interested in relieving you of your debt.
With that being said, make sure that you watch out for the following red flags when you are signing up with any debt relief service both now and in the future.
Signs of an Unlawful Debt Relief Company
1. The company promises that an unsecured debt can be paid off in part than in full. This is not a legitimate promise as there is no guarantee that your creditors will actually accept a partial payment. If you’re having problems with your payments, you should contact your creditors immediately as they will be able to shed more light on the subject.
2. The firm asks you to stop making your payments and to stop communicating with your creditors. This might be something that you’ve always wanted to hear, but if it is said to you by any company then you should not consider it to be legitimate. If you fail to consult your creditors about this, you will be charged late fees, which is certainly not something that you should be going for at this stage of the game.
3. They claim to be able to remove negative information from your credit report. The negative information is always going to be there. You can rectify the situation and make it right with the company, but the information will always be on your credit report, and it is in fact illegal for anyone to remove it.
4. The debt relief service claims that your creditors will never sue for unsecured debt. This is completely untrue because creditors do have the right to sue you for the money you owe them, and they will often do so. Keep in mind that your creditors are running a business and they will have to be paid somehow!
These are just a few things that you will need to know if you are to be successful in paying off your creditors to any degree. As you probably imagine though, it’s not going to be easy to find reputable debt relief help.
Find a Legitimate Debt Relief Company
Now it would be a great time for you to start searching for a decent debt relief program. You may be surprised to find just how many of them are out there and how many of them can help you immensely with your problems.
Ask the right questions! Shop around and make serious considerations before you actually commit to any particular debt relief company. There are plenty of customer reviews available online, and you might even ask your creditors if they have any ideas. Remember, they are human, and they may be more than willing to help you out of debt in your time of need.