Debt Relief
If you have an increasing credit card debt, then a debt relief program could help you greatly. Debt relief programs are designed to do just that, help relieve you of your debts. A debt program will have several types of plans. You need to check each one of their plans out carefully to see which one suits you best.
Debt negotiation is a typical debt relief program that can help you take care of your debts. Debt negotiations will usually get your debt reduced to a smaller amount, saving you from having to pay the original amount due. This negotiation is done by a professional from the debt relief program that you haven choosen. This method of debt relief has proven to help many people pay there debts in about half the time that it would have taken without using the debt relief program.
Debt Relief Scams
Be aware of debt relief scams. Knowing that you are in a tight spot and are vulnerable because of your need to get out of debt, these scammers will take advantage of you. These debt relief scams offer the same programs as a legitimate debt relief company, but in the end they simply take you money and disappear, leaving you with more debt and unfulfilled promises. There are many legitimate programs out there. The key is looking for the signs of a debt relief scam. If you can identify which companies a legit and which look like they aren’t, then you can avoid being scammed.
Here are few signs of a debt relief scam company:
Credit Card Report Fee
Some debt relief programs will offer to fix your credit card report and rid it of any errors or large fees that you were falsely billed. The process can be tedious, so some people prefer to hire a professional to do it. You should be careful when hiring someone to do this for you because you won’t really know what they have done to your report or if they have done anything at all. Fixing your credit card report can actually be done for free, by you. Simply request your credit card report from any one of the 3 credit card bureaus and they will send you a copy for free. When you receive the copy, simply look it over for any charges you may have received that are false or from an error. These charges will generally be very apparent to you as you know how you spend your money.
Bad Credit Loans
Some programs will loan you money to fix your bad credit. This scam is common. They tell you that they will loan the money to pay of your current credit card debts. You never see any cash. They will take care of it. In the mean time, you’re paying them monthly for the loan. After a few months you will find that your debts were not taken care of and the company that you’re sending money to does not even exist. You can try to track them down but there will be nothing. They use fake addresses and phone numbers. In the end, they run off with the money that you could have been using to pay off your original debt.
Making a False Credit Card
If a company suggests that you make a new credit card identity in order to get a new , higher credit card score, then you know they are not legit. This is illegal. No legit debt relief company would ask you to do this. You don’t have to be a genius to know that making a false identity is not right.
So be careful when you use a debt relief company. Check the company out thoroughly. Check the address and the phone numbers. Never do anything illegal. Try not to spend any money or take any loans, this is what got you in debt in the first place. There are legit debt relief companies out there; you just have to find them.
