Don’t Get Scammed by Amazing Debt Settlement Claims

Ever hear of a deal that sounds too good to be true? That is probably because it is. Many people turn to debt settlement to solve credit and debt problems. They believe this is the answer to all of their questions, but be wary of which solution you choose.

Here are some facts about debt settlement companies:

1. Debt settlement companies often use misleading marketing ploys. They often advertise extreme results that are rarely ever achieved. It is common for these companies to use wording that can be misleading in their advertisements to draw you in. Be sure to get all of the facts straight, and if a company tries to deny you a service that they previously offered, then bring in proof of their offer.

2. Sales representatives typically work on commission. This often leads to promises of more than realistic outcomes. These representatives want to convince you to use their company, so that they will get paid more at the end of the month. They will entice you with verbal promises of being completely debt free within so many months, even though there is no true substance behind their claims.

3. Be sure to monitor the company you choose. Just because you are under a program to help with your debt issues, you may still run into problems. Some companies collect your money but do not immediately use your money to repay your loans. Collection calls will not necessarily stop from your lenders, you may still be sued for your debts, and your credit will still be negatively affected. Also, just because you have a debt settlement representative does not guarantee that your lender will agree to the terms.

Look into the company that you choose to represent you in your debt settlement. Check to see that the promises they make are possible and plausible. Consider talking to a credit counselor or someone who knows more about these issues before you make a final—possibly costly—decision.

Latest posts by Ashley Russell (see all)
(Visited 34 times, 1 visits today)