The internet offers an overwhelming number of debt management companies and choosing between them can be frightening. Many people simply do not know what things signal a potentially predatory debt management company. This article is meant to help people recognize what to watch out for when choosing an online debt management company.
Companies That Charge For an Initial Consultation
You should never be charged for an initial consultation with any debt services company. In an init
ial consultation, you simply learn what services the company provides and determine whether or not their services fit your needs. Just as you wouldn't pay to look at a home before buying it, you shouldn't be charged for browsing services before receiving them. What this initial meeting is, most of all, is a chance for the company to prove to you why you should choose to utilize their services. This is a benefit for them, not a service they are providing you.
Companies That Do Not Provide
Credit Counseling
The most important thing to remember when getting help from any debt service company is that it is not an excuse to quit taking responsibility for your own debts. Though a debt management company will help you manage your debts until your credit is cleaned up, they should also teach you how to stay out of debt in the future. Without credit counseling, you are just as likely to end up in the same position again. Debt management companies that do not provide credit counseling
are just hoping for continued business from you, leading to more profit for them.
Companies That Do Not Provide In-Person Consultations
Even if it's just over the phone, any reputable debt management company will allow you access to real people when you have questions or concerns. In fact, credit counseling is just not as effective when it's not performed through conversation. The best situation would allow you to choose a debt management company close to your home so that you coul
d go and meet with someone in person. Additionally, you should work with one individual counselor. The process will be much less effective if you are forced to explain your situation over and over to whatever new customer service representative answers the phone when you call.