If you are in debt, it is a wise thing to do to look for a debt management firm to help you get out of it, but you have to be careful not to get hooked to an inexperienced, inefficient, and incapable debt management firm, otherwise, instead of meeting your desire of getting out of debt, they will even be adding to it.
Don't be in a hurry to sign up with any so called debt manager that comes to your attention, you must do a little research first to be sure you are getting the right firm that can actually help you to manage and eliminate your debt. Here are four ways to know the best debt management firm to hire:
1. Disqualify Those Who Send You Spam Mails Or Call You On Phone
This is a very obvious way to know debt management firms that will not be able to help you solve your debt problem. Reputable companies are not so desperate to get clients that they have to resort to spamming prospects or calling them up without any previous contact.
The debt management companies you can trust never use such desperate and unethical marketing tactics to get clients; they usually advertise their services on yellow pages, and on the Internet, but never by spamming.
2. Disqualify Those Who Ask For Your Credit Card Information On Phone
This is another way to quickly trim down your list of debt management firms you are considering. A credible and professional firm will never ask you to disclose to them details of your credit card on the phone. They know how easy it will be for fraudulent people to impersonate them and take their clients to the cleaners if they ask for such sensitive information on the phone.
And, if anyone does ask you for this, please don't give it out - don't ever reveal your credit card information on the phone. For all you know, the caller may just be a fake, hoping to add you to their list of credit card scammed victims.
3. Disqualify Those With Hyped Up Offers
If a debt management firm tells you they can slash your debt by half in a few weeks, they are not truthful. Chances are that they are desperate to get you in. And when a company becomes desperate for clients that they can afford to throw honesty into the wind, it only shows that such firm will not be able to help you get out of debt, but only after your money.
They may not even have the expertise or experience to know what it actually takes managing debt and helping someone to achieve freedom from debt.
The truth is that debt reduction or elimination doesn't happen overnight, as much as people in debt would have wanted, it takes time to achieve - it takes time before you can begin to see the impact of following a debt management plan.
What you should be looking out for, that will tell you whether a debt management company is the best to hire or not, is the interest rate reduction they are able to negotiate for you, and their counseling and plan to help you get out of debt, and not a bogus claim to cancel your debt in a month or t wo.
4. Disqualify Those Unknown In The Industry
Getting out of debt is a big concern to you; therefore, to be sure of getting the needed solution, you must hire the company with proven record of achievement, well known in the industry, and of good rating with industry watchers.
You mustn't take the risk of allowing an unknown firm, which may not even have any reserved fund to ensure that "come rain, come shine" your creditors will be paid.
Another important reason why you should hire experienced companies with good rating in the debt management industry is that they have built their name over the years, and so will do all they could to always satisfy their clients.
They want to remain, and even go higher in the ratings of the watchdogs in the industry; therefore, if you sign up with them, you stand the best chance of getting your debt problem resolved to your satisfaction.
Some watchdogs and associations in the debt management indus try you can contact to find out the ratings of firms you are consider ing hiring are: Better Business Bureau, BBB, Online Business Bureau, TASC, The International Association of Professional Debt Arbitrators, and Top Consumer Reviews.
Dan Edward runs DebtConsolidation-Help.net, where he shares loads of information on how to get out of debt without filing bankruptcy. Read more of his incisive articles, and get more informed about how to end your debt at [http://debtconsolidation-help.net]
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