Debt Relief Program
Debt Relief Program
Debt relief programs can provide help with debt that has grown out of control. These programs can help you adjust or alter debt, combine or consolidate debt, or settle debt for less than what you owe.
A Few Things to Consider about a Debt Relief Program
Not all debt relief programs are created equally and some will do more harm than good to your financial situation. If you believe a debt relief program might be right for you, look for one that is:
- Accredited by the Better Business Bureau (BBB)
- Can provide you with references
- Offers counseling based on your specific situation (no “one size fits all” solutions)
- Explains all of your options, including settlement, consolidation, and more
- Has experience dealing with your specific kind of debt (for instance, consumer credit card debt is different than tax debt)
- Provides information about how participation in the program will affect your credit
As you compare your debt relief program options, consider the solutions you’re being offered. Does a company provide just one remedy or are they giving you information and options about many different choices? How does the debt relief company bill you?
Finally, make sure any debt relief program you work with is a dependable organization with an established reputation. In addition to being accredited by the BBB, look for an agency that has positive online reviews and is well-known and well-respected in the industry.
Debt Relief Programs aren’t Right for Everyone
Even if you find a program that is on the up-and-up and provides solutions for debt relief, it still might not be the best choice for you.
It’s also important to realize that many debt relief programs offer no legal support. You might think you’re making an effort to get a handle on your debt, only to realize the creditor has begun legal action against you. And since most debt relief programs have no ability to represent you legally, you’ll be on your own battling a collections lawsuit. All the work you did and the commitment you made to the debt relief program is for nothing and you might have wasted money on a plan that ultimately did you no good. This is why it’s best to hire a debt relief law firm.
Finding Debt Relief that Works for You
The important thing is you need to understand all of your options before you choose a debt relief program. There are programs out there that can help and there are people experiencing financial problems who are perfectly suited for these credible programs.
Unfortunately, there are also programs trying to take advantage of your financial vulnerability, and even the programs that are on the up-and-up might not be what’s best for you.
Your best bet is to explore your options and speak to someone who is able to provide comprehensive guidance and support. It’s possible for a debt relief program to negotiate a debt settlement for you. It’s even possible for you to do it on your own. The same is true with debt consolidation or debt adjustments that lower your interest rate or monthly payment amounts. But without the help of an experience professional, you’re putting your already tenuous situation at risk.
If you want to be sure you are making the right decision concerning debt and be able to explore all of your options and how your choice will affect you, we can help. We provide debt relief guidance, as well as support with debt settlement, debt consolidation, and when necessary, bankruptcy. Our goal is to make sure you’re making the right long-term choice and not rushing into something that’s going to cause you more problems in the long run.
For more information or to schedule a consultation with Weston Legal, contact 1.800.220.4318.