Seeking Legitimate Debt Relief
If you are seeking debt relief you are likely to encounter many types of companies and services that will offer to grant you debt relief that is both fast and easy. In many cases, these companies offer debt consolidation loans or debt consolidation services which provide debt relief. When you seek debt relief through such a company, the company will negotiate with your creditors to reduce some of your debt - usually by eliminating late fees and other fees - and will often negotiate more time to pay off the debt. Then, the debt relief company will figure out how much you can afford to pay each month and you will pay this sum to the debt relief company itself. The debt relief company will take out a monthly fee from this amount and will pay your creditors using your money. In some cases, a good debt relief company can halve the amount of time it would take you to pay off your debts. In some cases, though, a bad debt relief company can get you into greater financial trouble by being tardy with payments to creditors and by removing large fees from money supposedly earmarked for creditors. To find debt help, you can check your local phone book for "debt relief", "debt counseling" or "credit counseling" services. You can also check online to compare debt relief companies. When looking at debt relief companies, you may notice that some offer "free debt relief." You should not take this too literally. In many cases, this means that the company does not charge an initial fee but does charge a monthly fee. These monthly fees can be substantial, so get all the details during your first phone call or visit. A better option may be "non-profit debt relief" services, which are often subsidized by credit card companies or other businesses. These are also not free but generally have lower monthly fees. Be sure to compare their fees with other debt relief services available to you to make sure. To find legitimate debt relief help, you should read all contracts a debt relief company gives you. You should also ask your debt relief company for customer referrals and you should check the Better Business Bureau to see what standing your debt relief company has. If you have any doubts or anything seems suspicious, you should seek help elsewhere. With so many options for debt relief out there, there is simply no reason to stay with a company you are unsure about.