![]() Unrealistic promisesīe aware that some debt settlement companies may make unrealistic promises about what they can provide. If you get a call, don't feel pressured to agree to something right away. High-pressure sales practices create a difficult environment to make clear decisions. Some debt settlement companies offer their services through aggressive telemarketing calls. ![]() What to watch out for when considering a debt settlement companyīe aware that some debt settlement companies may do the following. This allows you to confirm that your payments are being received. Before you sign, make sure the debt settlement company agrees to inform you of all payments they make to your creditors. They may ask you to sign a power of attorney to give them this ability. Be aware that a debt settlement company may still charge you fees even if your creditors refuse the offer. They’re usually for-profit businesses that make money from the fees they charge their clients.ĭebt settlement companies don't always provide credit counselling and money management advice.Ī debt settlement company may offer to handle all communications with your creditors. Your creditors may not agree to lower the amount of your debt or work with the debt settlement company. There are many different names for debt settlement, including:Ĭreditors don't have to negotiate with a debt settlement company. Some credit counselling agencies may also offer this service. The debt settlement company will then pay your creditors. If your creditors agree to the offer, you must pay your debt settlement company. This amount is often lower than your total debt. A debt settlement company negotiates with your creditors and offers them an amount of money to eliminate your debt.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |