.jpg)
Three things to watch for Debt Consolidation Services Online
Debt Consolidation
Most of us are swamped with bills like credit cards and auto loans, so we turn debt consolidation services to help us regain control of our economy. And it's a good idea, since some debt consolidation services can also help you lower your interest rates and monthly payments. But there are some untrustworthy people out there, and it means that you have to watch out for fraud when you're looking for a debt consolidation service online.
Here are three warning signs
Large and outrageous fees
Some companies charge $ 100 just for reviewing your account, often disguised as a "credit analysis." "Others offer an" educational program "consisting of mostly free forms, letters and information gathered from Internet sources. Chances are they just want money, and once they get it they'll offer very little in terms of services. The cost for this "education"? There may be as high as $ 1,500! Be wary of any company that operates in the up-front payment before you receive any type of service or materials.
Unbelievable promises
" We will cut interest rates to zero percent " You're going to pay less in just two weeks!"These types of exaggerated promises are designed to lure you in, and they are rarely true. No one can work miracles, and they certainly can not work them in just two weeks. Expect it to take at least a month and probably longer before the effects of debt consolidation on your finances.
.jpg)
They make first contactAny company that sends out spam, calls your home, or send you unwanted emails. they are only fishing for a fee. Most reputable companies will wait for you to contact them.
You can always double check a debt counseling service with the Better Business Bureau to see if any complaints have been filed against the company. You may also consider asking family and friends if they have any experience with service.
Debt Consolidation Services Online
