What Legitimate Debt Relief Services Can Do For You
Legitimate debt relief services can help you recover from financial turmoil. Common forms of debt relief services include debt settlement services, debt consolidation loans, and debt management programs or counseling services. Each one of these services is unique and depends on the financial circumstances of the person. If a debtor finds the right service for their particular circumstance, they can find their way back on track.
Unfortunately, it is a sad reality that there are people that want to benefit from your misfortune. Many people fall victim to fraudulent relief scams and find themselves out hundreds to thousands of dollars on top of their already mounting debt. It is important for you to thoroughly investigate any debt relief service before you financially commit.
How to Spot a Scam
As consumers become increasingly sophisticated, so do those hoping to fool them. We’ve all seen the commercials, whether it is on television, in magazines, or on the Internet. Debt relief services boasting results that seem too good to be true. For some of these companies, they just might be. Here are some telltale signs of programs you want to avoid:
- The Federal Trade Commission (FTC), the agency responsible for monitoring and enforcing fair practices, warns against any program that makes claims such as “Credit problems? No problem!” or “We can erase your bad credit — 100% guaranteed.” The truth is, no result is ever guaranteed.
- The FTC warns consumers to be especially weary of believing in any claim that a company can remove correct information from your credit report, because legally that is just not possible.
- Beware of programs that say they have the one and only solution. The truth is there is NO one-size-fits-all solution to debt. Each person’s debt is unique, and there will be a program that is best suited to your amount of debt, types of debt, and employment situation.
- Look for honesty in their representations to you. In most cases, your credit has already been damaged, and while a debt relief service can help, they each come with some downfalls.
- Pressure to financially commit right away can be a sign of scam. Look out for programs that charge for a consultation. Also, make sure there is more than just a phone number to contact. It may be old-fashioned, but the ability to meet with a representative in person before committing provides reassurance.
- Finally, if a service looks appealing to you, it is time to do a little research. Hop on the Internet and ask around, a good company will have legitimate credentials and testimonials.
Rest assured that the FTC takes violations of consumers’ rights seriously and has recently settled lawsuits against services boasting what they cannot deliver.
See the Difference in a Legitimate Debt Relief Service
At McCarthy Law, we take our clients financial hardships seriously and offer a no pressure environment for debt resolution. We understand that many of our clients have suffered medical emergencies, lost employment, or divorce, and are just searching for a workable solution for their debt. To that end, we offer free consultations and a flat fee for our services. During your initial consultation, one of our experienced attorneys will review your current financial situation and analyze your budget to determine if debt settlement is a viable solution for you. If your individual financial situation is better suited for bankruptcy, we will refer you to a reputable bankruptcy firm, though our goal is for you to avoid bankruptcy whenever possible.
After your free consultation, if you choose to engage our services, you have a designated period of time to cancel your agreement with no obligations. If you decide our services are right for you, we will inform your creditors of our representation and handle any future communications with them. We will set up a payment plan with you and work with your creditors to negotiate a settlement. In the event that a creditor does decide to sue, we have years of credit defense experience and can take immediate action on your behalf.
For your free consultation and a better understanding of your options for getting out of debt, contact McCarthy Law today.