Many consumers get in over their head with debt due to poor money management or unforeseen circumstances. While credit negotiations are a good way to lower debt payments and work toward financial freedom, finding legitimate help isn’t always easy.
Tips For Success
The Better Business Bureau fields numerous complaints from consumers who have gotten into trouble using the wrong type of debt negotiator. Consumers should first know that they have the right to negotiate their debts directly with their lender, but if they feel they do need help in securing a deal they should look for the following:
- A licensed or accredited agency, either with the National Credit Counseling Foundation or BBB.
- A company that offers an array of services from debt negotiation to tools for managing debts outside of a structured plan and money management skills.
- Staffs employees with degrees in law or finance, or a related field.
- No requirement for upfront payments for services, or money back guarantees if unsatisfied.
- An agency that encourages direct contact with the lender and provides written documentation of an negotiated agreements.